Nasdaq Inc. (Nasdaq:NDAQ) and the Jamaica Stock Exchange (JSE) have signed a new seven-year agreement for Nasdaq to deliver matching engine and market surveillance technology (SMARTS) to the Jamaica Stock Exchange.
By tapping Nasdaq’s technology, the JSE, as part of its strategy will be able to bolster their product and service delivery regionally and globally. Further, via the Nasdaq Matching Engine, JSE will have the ability to offer new products, enhance current trading capabilities and improve the latency of order execution. The market surveillance technology will provide the exchange the ability to closely monitor trade activities while strengthening market integrity.
”There are no boundaries that are beyond the JSE, as the organization continues to explore the use of technology that Nasdaq provides to ensure that our shareholders value are maximized and the confidence of the market remains high,” said Marlene Street Forrest, Managing Director, JSE. “This partnership with Nasdaq is another step to keep apace with the world’s financial markets. We expect that this relationship will enable the JSE and its member dealers to design and create new products and services facilitated by the cutting-edge technology that Nasdaq will provide.”
“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, Market Technology, Nasdaq. “By leveraging our trading and surveillance solutions, JSE will be operating on the world’s most widely-used trading technology for exchanges in the world. This is a key indicator of their dedication to build Jamaica’s capital market ecosystem into an important hub for finance and commerce. We look forward to a productive, long-term partnership with the JSE.”