The Jamaica Stock Exchange and Nasdaq Inc. have signed a new agreement for a term of seven years for Nasdaq to provide their market surveillance technology (SMARTS) and the matching engine to the Jamaica Stock Exchange (JSE). “The Jamaica Stock Exchange has been at the forefront of modernizing the Caribbean region’s financial markets,” said Carlos Patino, Head of Latin America and the Caribbean of Market Technology at Nasdaq Inc.
“This agreement will allow the JSE to continue to explore the use of technology which Nasdaq provides to ensure our shareholders’ value are maximized and the confidence of the market remains high” said Marlene Street Forrest, Managing Director at JSE. The agreement also solidifies JSE’s strategy to bolster their product and service delivery. From the Nasdaq Matching Engine, JSE will be able to offer new products, improve the latency time of order execution, and enhance the trading capabilities of the current exchange’s volume.
Jamaica’s stock exchange will once again be joining the more than 250 world market infrastructure organizations and market participants that use Nasdaq Inc’s market technology as the source of their technology drive. Additionally, in over 50 countries, Nasdaq provides “end-to-end, mission-critical technology solutions” for major market movers such as regulators, central securities depositories and exchanges. Nasdaq is the creator of the world’s first electronic stock market, that has also been an ardent advocate of use-case blockchain technology solutions, and its technology powers more than 100 marketplaces in 50 countries. 1 in 10 of the world’s securities are transacted by its technology. The exchange itself is home to market value of approximately $15 trillion.