JSE pockets $110m from D&G trade

D&G adds $110m to JSE coffers

D&G adds $110m to JSE coffers

When 630,339,249 units of Desnoes and Geddes traded on the Jamaica Stock Exchange on Wednesday, carrying a value of $19,439,662,439, it resulted in the stock exchange boosting their already rich earnings in 2015, by added income of $110 million for 2016, from fees earned on this block of shares.
The JSE had their best year ever, in terms of earnings last year, as they picked up close to $120 million in fees, when Scotiabank switched their direct share ownership from Canada, to a company set up in the Caribbean, to hold all the shares of the Caribbean based entities.
Trading levels increased in each of the last three quarters last year, ending with the December quarter reaching $11.35 billion or 31 percent higher than the levels in the September quarter. For the year to date, regular trading levels are at $2.689 billion, up 79.6 percent from $1.497 billion for the similar period in 2015. The stock exchange has also increased some of its fees to investors and the brokers for 2016. In addition to the increased trading activity, the exchange in August last year started handling repo transactions, which is expected to enhance income for the full 2016 year as opposed to a few months last year.
The JSE stock has been trading in relatively high volumes, around the $20 range and closing on Thursday at $20 with just over 57,000 units.

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