JSE moving towards listing digital currencies

• January 23 2019
• http://www.jamaicaobserver.com/business-observer/jse-moving-towards-listing-digital-currencies-completes-pilot-with-blockstation_155303

Managing Director of the Jamaica Stock Exchange (JSE), Marlene Street Forrest, has disclosed that the stock market is moving towards listing digital currencies, having completed a 60-day live trading pilot with Toronto-based private company, Blockstation recently.

The pilot was carried out with select regulated market participants including broker-dealers, market makers and the Jamaica Central Securities Depository (JCSD).

“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,” Street Forrest said.

The objective of the pilot was to demonstrate the complete lifecycle of the digital asset ecosystem, including the JSE setting up and managing broker members and market makers on the platform.

It also saw broker members conducting daily trading and managing their client accounts, JCSD managing the clearing, settlement, and custody of cash and digital currencies, and overseeing compliance reporting and reconciliation across all organisations.

Marko Hafez, president and CEO of Blockstation, will present at a panel discussion on block chain technology at the JSE Capital Markets Conference at the Jamaica Pegasus tomorrow. The conference launched last night and kicked off earlier today.

Blockstation believes the successful rollout with the JSE is a pivotal step in bringing digital assets to the mainstream and see it as symbiotic with other projects undertaken by companies such as Bakkt aiming to push digital asset adoption forward.