Upon completing the initial stage of its digital currency trading pilot, the Jamaica Stock Exchange (JSE) is planning to start listing security tokens on its platform. This initiative is as a result of its collaboration with Blockstation, a provider of end-to-end digital asset trading platforms for stock exchanges.
The JSE Just Concluded a Digital Currency Trading Pilot Program
The pilot which was recently completed is a major demonstration of the complete lifecycle of the digital asset ecosystem. The initial stage of the pilot ran for 60 days. Broker-dealers, market makers and the Jamaica Central Securities Depository (JCSD) are some of the selected regulated market participants who took part in the pilot stage.
According to a recent report documenting the pilot trading program, it was made known that, the JSE ensured that the management of its broker members and market makers is done directly on its platform, and this same broker members are actively conducting daily trading and managing their client accounts. The JCSD also did its part through the management, of the clearing, settlement and custody of cash and digital currencies, and overseeing compliance reporting and reconciliation across all organizations.
Marlene Street Forrest, Managing Director of the JSE said that:
“The pilot has been very smooth so far and we are quite happy with the results. We are looking forward to moving to the next stage of the pilot which would eventually include the listing of security tokens.”
Blockstation which was selected as
JSE’s official trading platform partner last year is a provider of end-to-end digital asset trading platforms for stock exchanges founded in 2014. The company also offers compliant listing, settlement, trading, clearing and custody of digital assets and security tokens, used by the exchange’s ecosystem of broker-dealers, investors, depository and regulators.
Jai Waterman, Blockstation’s Co-Founder and Chief Enterprise Architect also commented on the recent development. Jai said that:
“We are excited to have successfully implemented the first real end-to-end digital asset trading ecosystem with the JSE within their regulated environment. We are looking forward to onboarding, through the pilot exercise, the next wave of brokers and international investors who can enjoy the benefits of safe digital currency access through trusted financial institutions.”