After the Jamaica Stock Exchange (JSE) finished the first step for its digital currency trading pilot, it is now looking to start listing security tokens on its platform. The initiative is the result of its collaboration with Blockstation, a provider of end-to-end digital asset trading platforms for stock exchanges.
Digital Currency Pilot
Following the recent completion of the pilot is a massive demonstration of the complete lifecycle of the digital asset ecosystem. The first stage of the pilot went on for 60 days with market makers, broker-dealers and the Jamaica Central Securities Depository being some of the selected regulated market participants who took part in the pilot stage.
In a recent report documenting the pilot trading program, it noted that the JSE make sure that the management of its broker members and market makers is done directly on the platform. As reported by Coindoo, these same broker members are continuously conducting trading on a daily basis as well as overseeing their client accounts. The securities depository did its part too through the management of the clearing, settlement and custody of cash and digital currencies and managing compliance reporting and reconciliation across all organisations.
Managing Director of the JSE, Marlene Street Forrest said that “the pilot has been very smooth so far and we are quite happy with the results. We are looking forward to moving to the next stage of the pilot which would eventually include the listing of security tokens.”
Blockstation was selected as the official trading platform partner last year for the Jamaica Stock Exchange and is a provider for end-to-end digital asset trading platforms for stock exchanges founded in 2014. The firm also offers compliant listing, trading, settlement, clearing and custody of digital assets and security tokens used by the exchanges ecosystem of investors, regulators, depository and broker-dealers.
The co-founder and Chief Enterprise Architect at Blockstation, Jai Waterman also commented on the recent development saying that they are very “excited to have successfully implemented the first real end-to-end digital asset trading ecosystem with the JSE within their regulated environment.” Continuing on, Waterman says that they 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.”
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