Jamaica Stock Exchange Plans to List Security Tokens

The Jamaica Stock Exchange (JSE) is planning to list security tokens as tradeable assets for clients.

The JSE’s Canadian technology partner Blockstation announced last week that the two firms have completed the first stage of a 60-day live cryptocurrency trading pilot.

Marlene Street Forrest, the JSE’s managing director said the trial has been “very smooth” so far and that the exchange is “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.”

The first stage of the pilot saw participation from regulated broker-dealers, market makers and the Jamaica Central Securities Depository (JCSD).

The ultimate objective of the pilot is to “demonstrate the complete lifecycle of the digital asset ecosystem,” according to the announcement. That included setting up the platform, managing participants and conducting trading. The JCSD managed the clearing, settlement and custody of cash and cryptocurrencies, and oversaw compliance reporting and reconciliation across participants.

The JSE partnered with Blockstation back in August 2018 to create the new digital assets trading platform.