Trinidad and Tobago Looking to Establish Junior Stock Exchange
KINGSTON, Jamaica, November 24, 2022 - The Government of Trinidad and Tobago is looking to establish a Junior Stock Exchange that is similar in model to Jamaica’s. This is the word from the twin-island republic’s Minister of Trade and Industry Paula Gopee-Scoon.
Minister Gopee-Scoon said that despite attempts to establish the platform, “we really haven’t gotten it quite right as you [in Jamaica] have.,” Hence the government’s decision to “come directly to you and strengthen our relationship and our partnership” in facilitating the undertaking Ms. Gopee-Scoon noted.
The local Junior Market, which is managed by the Jamaica Stock Exchange (JSE), allows investors to channel capital into listed small and medium-sized enterprises (SMEs).
Ms. Gopee-Scoon was speaking during a Bell Ringing Ceremony at the JSE in Kingston on Wednesday (November 23).
The event marked the formal launch of a partnership that now allows Jamaican investors to acquire shares in entities listed on the Dutch Caribbean Securities Exchange (DCSX).
Ms. Gopee-Scoon said the Trinidadian Government is looking to attract SMEs, focused on receiving capital investments, for listing on the proposed junior stock exchange.
“What better place [to receive it than] on the market? We’re going to borrow some of your Exchange programmes [and]… the business development side of things… we spoke a little bit about,” she added.
Minister Gopee-Scoon, in lauding the JSE on its strides in the capital markets industry, said the entity remains “attractive to, not only the Caribbean, but the global financial community”.