Canadian Securities Exchange Announces Partnership with Jamaica Stock Exchange
Signed MOU to foster co-operation between exchanges
Toronto, Ontario--(Newsfile Corp. - November 12, 2019) - The Canadian Securities Exchange ("CSE" or "the Exchange") today announced that it has signed a Memorandum of Understanding ("MOU") with the Jamaica Stock Exchange ("JSE"). The MOU facilitates co-operation and sharing of information between the two exchanges in order to enhance the respective markets for the benefit of all participants.
Under the partnership, the CSE and the JSE will evaluate numerous opportunities to strengthen ties. For instance, the exchanges will seek to facilitate market access for issuers looking to cross-list their shares and reach a larger investor base, and for investors seeking to trade securities on the respective exchanges.
The JSE is celebrating its 50th anniversary in 2019. It has been the top-performing stock market in the world over the last 12 months, according to Bloomberg, with a gain of 35%. Its issuers have a cumulative market capitalization of approximately J$1.5 trillion (~C$14 billion). The JSE is recognized for its strong regulation and governance standards and for providing a fair, efficient and transparent market for all participants.
"We are delighted to form this working relationship with the JSE, an outstanding stock exchange with a long and distinguished history," said Richard Carleton, Chief Executive Officer of the CSE. "Like the CSE, it is characterized by strong growth, excellent oversight and a track record of fostering successful companies. The Jamaican economy is also strong, and we believe our market participants will benefit from increased access to the country."
"The CSE has established itself as a leading stock market for entrepreneurial companies, and we expect this partnership to bring tremendous benefits," said Ian McNaughton, chairman of the JSE. "In particular, we are excited about opportunities in the cannabis industry, in which the CSE is a global leader. Jamaica has no public cannabis companies yet, but our country has a licensed medical cannabis regime and our citizens are knowledgeable about the industry. CSE companies could receive a tremendous benefit from being cross-listed on the JSE, and we believe Jamaican investors will be eager to seek cannabis opportunities on the CSE."
On November 14, 2019, the CSE, JSE and other market participants are hosting a seminar in Kingston, Jamaica for local investment dealers and companies focused on the cannabis sector. They will be provided with information about listing shares on the CSE and raising capital in Canada. The CSE and JSE expect to hold more joint events in the future as ties between the two exchanges are strengthened through the MOU.
About the Canadian Securities Exchange:
The Canadian Securities Exchange is a rapidly-growing stock exchange focused on working with entrepreneurs to access the public capital markets in Canada and internationally. The exchange's efficient operating model, advanced technology and low fee structure help companies of all sizes minimize their cost of capital and maximize access to liquidity.
The CSE fosters positive working relationships with issuers, providing superior responsiveness to their specific needs. It offers investors in Canada and abroad access to a multi-sector stable of growth companies through a liquid, reliable and highly regulated trading platform. The exchange strongly supports entrepreneurship and has established itself as a leading hub for discourse in the entrepreneurial community.
The CSE has more than 500 listings and offers trading services for Canadian-listed securities. Its issuers, which are active in diverse industries such as cannabis, technology and mining, have raised more than $4.3 billion in the last 12 months. The exchange was founded in 2004 and has corporate offices in Toronto, Ontario and Vancouver, British Columbia.
Richard Carleton, CEO
Delegates from the Jamaica Stock Exchange opened the market at the Canadian Securities Exchange on October 24th, 2019
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