what is the purpose of the Jamaica stock exchange?

Photo Source: Jamaica Stock Exchange | https://www.jamstockex.com/

Photo Source: Jamaica Stock Exchange | https://www.jamstockex.com/

Answered by Isreal, Associate Writer

Did you know that Jamaica has a stock exchange market? Yes, we do, and proudly too! It officially opened in 1969 but formulation started from the year before, in 1968. But...

  • Who started the Jamaica Stock Exchange Market?
  • What is the purpose of the Jamaica Stock Exchange Market?
  • Does the Jamaica Stock Exchange Market really function?

Let me attempt to help you...

Who Started the Jamaica Stock Exchange (JSE)?

The Jamaica Stock Exchange was not started by one person but by a group. The founding members for the JSE were: Mr. William Samms (Arnett and Company Limited), Mr. Raglan Golding (Jamaica Capital Services Marketing Ltd.), Mr. Edward Gayle (Edward Gayle and Company Limited) and Mr. Anthony Lloyd (Pitfield Mckay Ross and Company Limited).

Currently, the JSE's leader is Mrs. Margaret Street-Forrest (Managing Director). Her merit does not come from the MBA degree but rather, her experience in both the public and private sector. In 2016 she was conferred the Order of Distinction in the Rank of Commander (CD) in recognition for her excellent leadership of the JSE.

The Purpose of JSE

The core purpose of the Jamaica Stock Exchange is to offer an alternative for private savings. It exists to help the development of the Jamaican economy through the flow, exchange and growth of capital while providing interest on shares that is acceptable to shareholders. Isn’t that great!

A stock exchange market is also a place where investment is protected from inflation.

Since 2015, the JSE continues to expand the Jamaican economy. I have a video you can watch below on YouTube.

Video: The Impact Of The Jamaica Stock Exchange (JSE) on the Jamaican Economy

What’s the linkage between private investments and the JSE?

Ok, for starters, to clarify a share or equity is buying ownership into a company.

So for example, if a company offers 10,000 shares and you buy 2000 this would mean that you own 20% of the company. In the case of ItelBPO since it is growing, if you own 20% of the company let me know and we be friends- just joking.

But seriously, this is how a stock market functions, investors earn from the profits made on purchasing shares, also known as stocks.

Share Types

Now there are two main types of stock or shares.

  1. There is the ordinary stock which pays interests based on profits and company cash available. In this case, the holder (the person who owns the stock) has no voting rights in the company’s decision-making. Not so much my style… I would want a vote in my money’s direction :-)

    Some ordinary shareholders have voting rights but that is dependent on the company and special conditions.

  2. Then there is preferential stocks with a fixed interest rate on investments. The owners of these stocks vote on business direction.

    Unfortunately, if the business is in a state of emergency they also do not have a vote. Preferential stockholders can demand their interests whether the business makes a profit or not, unlike the ordinary shareholders.

And both are available in Jamaica!
So, are you ready to invest? Here is how you do it!

How to Buy Shares?

  1. First, research the company you would like to purchase the shares using their financial statements.

  2. Contact one of the stock brokerage companies authorized by the Financial Services Commission and the JSE.

  3. Open an account with the company of choice.

    Please note you will need a Taxpayer Registration Number (TRN) nationality, name, date of birth, employment information and number of dependents information.

  4. Develop a risk profile which is needed for investment planning.

    This will also need valid identification and a recommendation. A risk profile is dependent on the company the stocks are being purchased from.

  5. Purchase the stocks through the broker.

    Please be mindful that you may be asked to make a deposit on the order of the shares.

    By the way, here are a few more details about stock purchasing, I think you'll appreciate this...

    You can go with a market order which means that the broker buys shares at the prevailing market price.

    There is also another order of purchase, a limit order, and that means the broker must not exceed a certain amount of money for the stocks set by you.

    Also, there is a stock order where an approximate price and not a definite price for the shares is used.

  6. Once the stocks are purchased, then a contract is sent with details such as: name of company, quantity of stocks, price of stocks, general consumption tax (GCT), exchange cess and commission.

    Again another important note: transactions are done either by cash or cheque and must be settled within three days of initial purchase as Jamaica functions under the T+3 system.

For enquirers or further information on the Jamaica Stock Market, here is their contact information below.

CONTACT For the Jamaica Stock Exchange

Jamaica Stock Exchange
"To provide fair, efficient and transparent stock market"
Address: 40 Harbour Street, P.O. Box 1084,
Tel: 876-967-3271
Fax: 876-927-9090
Website: jamstockex.com

By the way, if you want to invest in Jamaica via the stock market, here are some of the top companies that you might want to consider - with their contact information.

And by the way, I have absolutely no affiliation to them, these are just the ones that always appears to be doing well.

Top Companies Listed On The Jamaica Stock Market

Barita Investment Limited
Address: 15 St. Lucia Way, Kingston 5.
Tel: 1-888-429-5333
Tel: 876-926-2681/876-926-6673
Fax: 876-929-8432
Email: barita@cwjamaica.com
Website: www.barita.com

Berger Paints Jamaica Limited
Address: 256 Spanish Road, Kingston 11
Tel: 876-923-6229
Fax: 876-923-5129
Email: bergerja_marketing@bergeronline.com
Website: www.facebook.com/bergerCaribbean

Cable Bahamas Limited
Address: Between Old Trail and Old Robinson Drive,
Old Trail Road, Nassau, Bahamas
Tel: + 1 242- 601-2200

Caribbean Cement Company
Address: PO Box 488, Rockfort, Kingston.
Tel: 876-928-6232-5/876-928-7381
Email: info@caribcement.com
Website: www.caribcement.com

Carreras Limited
Address: 13 Ripon Limited, Kingston 5.
Tel: 876-749-9800
Website: www.carrerasltd.com

Ciboney Group Limited
Address: 41 Caracas Avenue,
Kingston, Freezone,

Jamaica Broilers Limited
Address: Content, McCook’s Pen,
St. Catherine.
Tel: 876-943-4376
Tel: 876-943-4322
Website: www.jamaicabroilersgroup.com

Jamaica Producers Group
Address: Fourth Avenue, Newport West,
Kingston 13.
Tel: 876-926-3503
Tel: 876-618-1134-7
Fax: 876-929-3636
Website: http://www.jpjamaica.com

Grace Kennedy Limited
Address: 73 Harbour Street, Kingston.
Tel: 876-922-3440-9
Email: gracekennedy@gkco.com
Website: https://www.gracekennedy.com

Jamaica Public Service Company Limited
Address: 6 Knutsford Boulevard, Kingston 5.
Tel: 1-888=935-5577/1-888-225-5577
Tel: 876-926-3190-9 ext. 78600
Email: Calljps@jpsco.com
Website: https://www.jpsco.com

Jamaica Money Market Brokers Group
Address: 6 Haughton Terrace, Kingston 10.
Tel: 876-998-5662
Fax: 876-960-9546
Email: info@jmmb.com
Website: https://jm.jmmb.com

Kingston Wharves Limited
Address: Kingport Building, Newport West
Third Street, Kingston.
Tel: 876-618-1068/876-923-9211
Fax: 876-923-5361
Website: http://kingstonwharves.com.jm

Mayberry Investments Limited
Address: 1 ½ Oxford Road, Kingston 5.
Tel: 876-929-1908-9
Website: https://www.mayberryinv.com

That's more than enough for starters :-)

If you prefer to see more though, click here to get the full list of companies on the Jamaica stock exchange.

I hope this helps!


  1. Cayman Islands Stock Exchange. Background taken from https://www.csx.ky/aboutus/overview.asp

  2. CNBC. 2018. Will Stock Investors Ever Profit from a More Open Cuba? Taken from https://www.cnbc.com/2015/05/01/investors-ever-profit-from-a-more-open-cuba.html

  3. Graham, Neville. 2018. ItelBPO Exploring Listing on the Jamaica Stock Exchange. The Jamaica Sunday Gleaner taken from http://jamaica-gleaner.com/article/business/20181125/itelbpo-exploring-listing-jamaica-stock-exchange

  4. Hall, Oran. 2017. Financial Adviser: How to Buy Stocks on the Jamaican Market The Jamaican Sunday Gleaner taken from www.jamaica-gleaner.com/article/business/20170219/financial-adviser-how-buy-stocks-jamaican-market

  5. Investopia. 2018. List of the Major Stock Exchanges in the Caribbean taken from www.investopedia.com/articles/investing/071415/list-major-stock-exchanges-caribbean.asp

  6. Jamstockex. 2016. Jamaica Stock Exchange Opens Toronto Stock market, May 24, 2016 taken from https://www.jamstockex.com/845589-2/

  7. Jamstockex. 2018. Frequently Asked Questions taken from www.jamstockex.com/about/frequently-asked-questions-jse/

  8. Jamaica Information Service. 2018. Jamaica Stock Exchange-Fueling Economic Growth taken from https://jis.gov.jm/videos/jamaica-stock-exchange-fueling-economic-growth/

  9. Northern Ireland Business Information.2018. Company Shares and Shareholders taken from www.nibusinessinfo.co.uk/content/types-shares

  10. Trinidad and Tobago Stock Exchange. 2018. History of the Trinidad and Tobago Stock Exchange taken from https://www.stockex.co.tt//controller.php?action=content&id=11

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