JAMAICA MONEY Market Brokers (JMMB) started trading on the Barbados Stock Exchange on Tuesday.
In December 2002 JMMB became a public company with stock trading on both the Jamaica Stock Exchange (JSE) and Trinidad and Tobago Stock Exchange (TTSE). The company further revealed plans to be listed on the Barbados Stock Exchange, as part of the christened 'JMMB 2025 strategic vision'.
Dr. Noel Lyons, chairman of the JMMB Group stated, "JMMB has always had a global vision in terms of playing a key role in developing the investment markets in the region, and keeping in line with this global vision, JMMB's ultimate objective is to be listed on all stock exchanges in the Caribbean and even beyond."
A GRAND MILESTONE
According to Mr. Keith Duncan, chief executive officer of the JMMB Group, the move signifies a grand milestone for the JMMB Group and its approximately 75,000 local and overseas clients. He stated, "We are a fully integrated Caribbean entity; by establishing a prior presence in Barbados through Caribbean Money Market Brokers (June 2004) we pre-empted our trading on the Barbadian Stock Exchange. This achievement will translate into a stronger regional brand presence and recognition, an increase in liquidity of our shares, stimulate more trading of the stock while ultimately, positively influencing price of our stock."
Currently CMMB, an associated company of JMMB, is the largest securities dealer in Trinidad. Mr. Duncan said investors of the Caribbean Diaspora especially in Toronto, New York, the U.K. and Florida have deep-rooted commitments to 'home' and are, therefore, keenly involved in investing in such a haven and CMMB provides a vehicle for such investing.
