Trading crawls in JSE’s morning session on Thursday morning. Activity in themarket after 2 hours of trading, resulted in only 554,478 units have traded as 14 securities traded with 6 stocks rising and 4 declining.
The all Jamaican Composite index gained 6.08 points to 107,896.92 points, JSE Combined Index eased 49.28 points to 99,667.85, JSE Index trades at 97,481.38 points after rising 5.44 points and Junior Market Index lost 6 points to 856.45.
There are only a few trades of interest to the time of reporting, with Cable and Wireless trading 112,226 shares at 45 cents to gain 3 cents but a sell order still hangs over the market at 45 cents. Lasco Financial Services had 94,700 shares changing hands at $1.32, National Commercial Bank traded 101,590 shares at $29.20 ahead of the expected release of the June quarter results after trading closes today and Supreme Ventures with 131,000 shares traded at $3.28.

Trading crawls in JSE’s morning session on Thursday morning. Activity in themarket after 2 hours of trading, resulted in only 554,478 units have traded as 14 securities traded with 6 stocks rising and 4 declining.
The all Jamaican Composite index gained 6.08 points to 107,896.92 points, JSE Combined Index eased 49.28 points to 99,667.85, JSE Index trades at 97,481.38 points after rising 5.44 points and Junior Market Index lost 6 points to 856.45.
There are only a few trades of interest to the time of reporting, with Cable and Wireless trading 112,226 shares at 45 cents to gain 3 cents but a sell order still hangs over the market at 45 cents. Lasco Financial Services had 94,700 shares changing hands at $1.32, National Commercial Bank traded 101,590 shares at $29.20 ahead of the expected release of the June quarter results after trading closes today and Supreme Ventures with 131,000 shares traded at $3.28.

The repo market in Jamaica is undergoing major changes and is set to take another leap forward that is meant to better protect investors. The changes mean that smaller players can no longer participate in this market unless they pool their resources.
Financial Services Commissionstated that “effective October 2014, a minimum amount for a retail repo was set, currently the level is J$500,000 and US$5,000 and is scheduled to be increased on a phased basis to $1 million and US$10,000 by the end of December, this year.” The big change is that the securities supporting retail repurchase agreements, must migrate to the Jamaica Central Securities Depository Trustees Services (JCSD) effective the end of August, the entity approved for such services.
According to Robin Levy, Manager of the JCSD they will be trustees for the assets that back the repos, as such the dealers will no longer hold them directly in their names thus legally separating the ownership from the repo issuer during the duration of the repo agreement. Each repo transaction will be evidenced by an account held in the purchasers name at the JCSD. Owners will be able to view these accounts over the internet, in the same manner as is currently done for investments in stocks listed on the Jamaica Stock Exchange. There will be no charges levied directly on the investors. Fees will be charged to and payable by the dealers.
The total book of repurchase agreements amounts to approximately $500 billion as of March this year, the amount to be transferred may be lower has the FSC new regulations chips in to eliminate smaller amounts. The Jamaica Stock Exchange will generate significant income from this line of business.
The change in the size of the amounts that can go into repo means that some financial entities will lose some of the funds they now control, others will encourage their clients to shift the funds to unit trust where they have such vehicles. Moving funds to unit trust will generate fee income but the unit trust investors will benefit from any underlying gains from the appreciation from the assets where this may occur or suffer losses from such investments if the assets were to fall in value. Of course the management company may sell the unit trust repos as well hence shifting the potential gains or losses in their favour.

The repo market in Jamaica is undergoing major changes and is set to take another leap forward that is meant to better protect investors. The changes mean that smaller players can no longer participate in this market unless they pool their resources.
Financial Services Commissionstated that “effective October 2014, a minimum amount for a retail repo was set, currently the level is J$500,000 and US$5,000 and is scheduled to be increased on a phased basis to $1 million and US$10,000 by the end of December, this year.” The big change is that the securities supporting retail repurchase agreements, must migrate to the Jamaica Central Securities Depository Trustees Services (JCSD) effective the end of August, the entity approved for such services.
According to Robin Levy, Manager of the JCSD they will be trustees for the assets that back the repos, as such the dealers will no longer hold them directly in their names thus legally separating the ownership from the repo issuer during the duration of the repo agreement. Each repo transaction will be evidenced by an account held in the purchasers name at the JCSD. Owners will be able to view these accounts over the internet, in the same manner as is currently done for investments in stocks listed on the Jamaica Stock Exchange. There will be no charges levied directly on the investors. Fees will be charged to and payable by the dealers.
The total book of repurchase agreements amounts to approximately $500 billion as of March this year, the amount to be transferred may be lower has the FSC new regulations chips in to eliminate smaller amounts. The Jamaica Stock Exchange will generate significant income from this line of business.
The change in the size of the amounts that can go into repo means that some financial entities will lose some of the funds they now control, others will encourage their clients to shift the funds to unit trust where they have such vehicles. Moving funds to unit trust will generate fee income but the unit trust investors will benefit from any underlying gains from the appreciation from the assets where this may occur or suffer losses from such investments if the assets were to fall in value. Of course the management company may sell the unit trust repos as well hence shifting the potential gains or losses in their favour.

In foreign currencies trading in Jamaica on Wednesday, funds purchased were more than the amount sold. The local currency remained stable against the US dollar but slip against the Pound and the Canadian. The market closed with dealers buying the equivalent of US$53,053,921 in contrast to US$45,060,353 on Tuesday, while they sold the equivalent of US$50,773,942 compared to US$52,126,199 on the prior trading day.
In US dollar trading , dealers bought US$50,382,620 compared to US$42,068,702 on Tuesday. The buying rate for the US dollar remained at $117.02 and US$48,939,846 was sold versus US$47,898,141 on Tuesday, the selling rate remained at $117.42. The Canadian dollar buying rate declined 99 cents to $88.50 with dealers buying C$879,564 and selling C$1,093,634, at an average rate that rose 39 cents to $91.27. The rate for buying the British Pound rose 89 cents to $180.80 for the purchase of £1,204,124, while £498,148 was sold, at an average rate that climbed $1.22 to $182.70. At the end of trading, it took J$128.38 to purchase the Euro, with a gain of 82 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.03 for $1.06 more than on Tuesday. Other currencies bought, amounted to the equivalent of US$145,663, while the equivalent of US$208,896 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 20 cents to $117.50, the lowest buying rate lost $1.28 to $95, the highest selling rate declined 16 cents to $123.21 but the lowest selling rate dropped $19.04 to $96.11. The highest buying rate for the Canadian dollar eased 90 cents to $90.60. The lowest buying rate dipped 58 cents to $71.71, the highest selling rate fell $3.95 to $92.55 and lowest selling rate rose 60 cents $87.80. The highest buying rate for the British Pound, climbed 95 cents to $183.40, the lowest buying rate fell 29 cents to $146.79, with the highest selling rate rising $1.30 to $187.28 and the lowest selling rate gained $1.90 to $179.30.

In foreign currencies trading in Jamaica on Wednesday, funds purchased were more than the amount sold. The local currency remained stable against the US dollar but slip against the Pound and the Canadian. The market closed with dealers buying the equivalent of US$53,053,921 in contrast to US$45,060,353 on Tuesday, while they sold the equivalent of US$50,773,942 compared to US$52,126,199 on the prior trading day.
In US dollar trading , dealers bought US$50,382,620 compared to US$42,068,702 on Tuesday. The buying rate for the US dollar remained at $117.02 and US$48,939,846 was sold versus US$47,898,141 on Tuesday, the selling rate remained at $117.42. The Canadian dollar buying rate declined 99 cents to $88.50 with dealers buying C$879,564 and selling C$1,093,634, at an average rate that rose 39 cents to $91.27. The rate for buying the British Pound rose 89 cents to $180.80 for the purchase of £1,204,124, while £498,148 was sold, at an average rate that climbed $1.22 to $182.70. At the end of trading, it took J$128.38 to purchase the Euro, with a gain of 82 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.03 for $1.06 more than on Tuesday. Other currencies bought, amounted to the equivalent of US$145,663, while the equivalent of US$208,896 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 20 cents to $117.50, the lowest buying rate lost $1.28 to $95, the highest selling rate declined 16 cents to $123.21 but the lowest selling rate dropped $19.04 to $96.11. The highest buying rate for the Canadian dollar eased 90 cents to $90.60. The lowest buying rate dipped 58 cents to $71.71, the highest selling rate fell $3.95 to $92.55 and lowest selling rate rose 60 cents $87.80. The highest buying rate for the British Pound, climbed 95 cents to $183.40, the lowest buying rate fell 29 cents to $146.79, with the highest selling rate rising $1.30 to $187.28 and the lowest selling rate gained $1.90 to $179.30.

In foreign currencies trading in Jamaica on Tuesday funds purchased were short of the amount sold, but the local currency mostly held its value. The market closed with dealers buying the equivalent of US$45,060,353 in contrast to US$43,789,731 on Monday, while they sold the equivalent of US$52,126,199 compared to US$41,636,358 on the prior trading day.
In US dollar trading , dealers bought US$42,068,702 compared to US$39,295,594 on Monday. The buying rate for the US dollar advanced 24 cents to $117.02 and US$47,898,141 was sold versus US$39,279,399 on Monday, the selling rate remained at $117.42. The Canadian dollar buying rate increased 66 cents to $89.49 with dealers buying C$1,353,953 and selling C$4,080,613, at an average rate that rose 65 cents to $90.87. The rate for buying the British Pound fell 14 cents to $179.92 for the purchase of £1,212,520, while £422,952 was sold, at an average rate that declined 71 cents to $181.48. At the end of trading, it took J$127.56 to purchase the Euro, with a gain of 10 cents on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.96 for 35 cents less than on Monday. Other currencies bought, amounted to the equivalent of US$92,059, while the equivalent of US$416,342 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 15 cents to $117.70, the lowest buying rate gained 17 cents to $96.28, the highest selling rate was unchanged at $123.37 but the lowest selling rate rose $19.13 to $115.15. The highest buying rate for the Canadian dollar climbed $1 to $91.50. The lowest buying rate was unchanged at $72.29, the highest selling rate fell 50 cents to $96.50 and lowest selling rate rose 10 cents $87.20. The highest buying rate for the British Pound, declined 55 cents to $182.45, the lowest buying rate was unchanged at $147.08, with the highest selling rate falling $3.62 to $185.98 and the lowest selling rate gained 20 cents to $177.40.

In foreign currencies trading in Jamaica on Tuesday funds purchased were short of the amount sold, but the local currency mostly held its value. The market closed with dealers buying the equivalent of US$45,060,353 in contrast to US$43,789,731 on Monday, while they sold the equivalent of US$52,126,199 compared to US$41,636,358 on the prior trading day.
In US dollar trading , dealers bought US$42,068,702 compared to US$39,295,594 on Monday. The buying rate for the US dollar advanced 24 cents to $117.02 and US$47,898,141 was sold versus US$39,279,399 on Monday, the selling rate remained at $117.42. The Canadian dollar buying rate increased 66 cents to $89.49 with dealers buying C$1,353,953 and selling C$4,080,613, at an average rate that rose 65 cents to $90.87. The rate for buying the British Pound fell 14 cents to $179.92 for the purchase of £1,212,520, while £422,952 was sold, at an average rate that declined 71 cents to $181.48. At the end of trading, it took J$127.56 to purchase the Euro, with a gain of 10 cents on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.96 for 35 cents less than on Monday. Other currencies bought, amounted to the equivalent of US$92,059, while the equivalent of US$416,342 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 15 cents to $117.70, the lowest buying rate gained 17 cents to $96.28, the highest selling rate was unchanged at $123.37 but the lowest selling rate rose $19.13 to $115.15. The highest buying rate for the Canadian dollar climbed $1 to $91.50. The lowest buying rate was unchanged at $72.29, the highest selling rate fell 50 cents to $96.50 and lowest selling rate rose 10 cents $87.20. The highest buying rate for the British Pound, declined 55 cents to $182.45, the lowest buying rate was unchanged at $147.08, with the highest selling rate falling $3.62 to $185.98 and the lowest selling rate gained 20 cents to $177.40.