The Jamaica Stock Exchange (JSE) and Blockstation today announced completion of the first 60 days of an ongoing live digital currency trading pilot with selected regulated market participants including broker-dealers, market makers and the Jamaica Central Securities Depository (JCSD).
The objective of the pilot is to demonstrate the complete lifecycle of the digital asset ecosystem. This includes the JSE setting up and managing their broker members and market makers on the platform, and the broker members conducting daily trading and managing their client accounts. It also includes JCSD managing the clearing, settlement and custody of cash and digital currencies, and overseeing compliance reporting and reconciliation across all organizations.
The pilot has been very smooth so far and we are quite happy with the results, said Marlene Street Forrest, Managing Director of the JSE. We are looking forward to moving to the next stage of the pilot which would eventually include the listing of security tokens.
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.
We are excited to have successfully implemented the first real end-to-end digital asset trading ecosystem with the JSE within their regulated environment. said Jai Waterman, Blockstations Co-Founder and Chief Enterprise Architect. We are looking forward to onboarding, through the pilot exercise, the next wave of brokers and international investors who can enjoy the benefits of safe digital currency access through trusted financial institutions.
The JSE selected Blockstation as its trading platform partner in 2018 after a comprehensive, global search for the most suitable online trading system to meet rising demand for digital asset investing and the growth of security tokens.
About Jamaica Stock Exchange
The Jamaican Stock Exchange (JSE) is an affiliate member of the World Federation of Exchanges (WFE). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, and settlement of transactions. More information about the JSE and its subsidiary, the Jamaica Central Securities Depository (JCSD) can be obtained from the JSE website; www.jamstockex.com.