Jamaica Stock Exchange to List Security Tokens

Jamaica Stock Exchange to List Security Tokens

After completing a 60-day pilot with Blockstation, the Jamaica Stock Exchange (JSE) will soon be listing security token as tradable assets.

Many stock exchanges globally have been growing more interested in the prospects of tokenized securities and trading them on their platform. In fact, just this week the Stock Exchange of Thailand announced they are also in the process of obtaining a “digital assets operating license” to trade security tokens. Many stock exchanges are looking at adding digital assets more generally, but the recent trend indicates that tokenized securities specifically are here to stay.

The Jamaican Stock Exchange (JSA) is, therefore, the latest national stock exchange to announce the adding of tokenized securities to their trading platform. Marlene Street Forrest, managing director of the JSA, was quoted in the Jamaica Observer saying that the initial pilot was a success. There were also discussions with market-makers and the Jamaica Central Securities Depository which greenlit the proposal.

“The Pilot Has Gone Smoothly.”

JSA held their 60-day pilot with the help of Blockstation, and blockchain-based technology and consultancy firm. The trial period included quotes, trading, and settlement services. Blockstation, a Toronto-based blockchain startup, has been working with the JSA since early 2018.

According to Forrest, the pilot successfully demonstrated “the complete lifecycle of the digital asset ecosystem” which included the “the JSE setting up and managing broker members and market makers on the platform.”

Are stock exchanges around the world coming around to security token trading? Let us know your thoughts in the comments.

Image courtesy of Jamaica Stock Exchange.