JSE modernises with longer trading hours, swift settlements Loop Jamaica

The content originally appeared on: Jamaica News Loop News

Starting next week, investors won’t have to rush lunch to make that last trade, and they can get funds into their brokerage account in a day or half the time.

It comes from regulatory changes being implemented on May 27. 

Trading hours will extend from 9 am to 2 pm, “providing an extra 1.5 hours for trading”, the Jamaica Stock Exchange (JSE) stated.

Also, the JSE will change its effective settlement time cycle from T+2 (two business days after trade) to T+1 (one business day after trade).  

The key benefits are faster transactions, the enhancing of market efficiency, and the alignment with global standards of T+1. In fact, many smaller exchanges across the developed world will also be implementing T+1. This standard is coming from T+5 in the 1990s.

JSE head Marlene Street Forrest

“We are attentive to the needs of our investors, listed companies, brokers, and other stakeholders, and we respond to enhance our market’s advantages. We strive to align with global best practices and provide opportunities for growth,” said Dr Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange.

Street Forrest also noted that the move to T+1 and the extended market hours required changes to the JSE’s rules, impacting how listed companies and member/dealers provide information to the JSE. She assured the financial community that these changes are in the best interest of all stakeholders.

“Investors should not be impacted, as the requirement to fund their accounts with Member/Dealers remains unchanged,” said Althea Daley, manager at the Jamaica Central Securities Depository (JCSD).