Since its establishment in 1982, the securities industry in Jamaica has made an indelible mark on the quality of life of many Jamaicans. During its 23 years of existence, the industry has consistently lived up to its mandate of providing multiple ways for investors to attain their financial goals in the shortest possible time.
Over the 23 years of its existence, the securities industry’s accomplishments have resulted in the sector being one of the country’s most vibrant and successful financial operations. This is as a result of the industry’s perseverance and foresight. At a point, when the tried-and-true methods of traditional savings dominated the financial portfolios of many, securities dealers began an aggressive drive to encourage persons to go against the norm, take some amount of risk, and
participate in various investment opportunities that would prove to pay off tremendously in the short, medium and long-term. Savvy Jamaican investors recognised the value of the products and services on offer and have responded tremendously, by participating in the various financial options made available to them.
Today, securities dealers manage approximately J$344 billion for 180,000 persons, with island wide access to their products and services through the 15 primary dealers and 8 stock brokers operating in Jamaica. The industry is guided by an expert team of approximately 100 executives and senior managers and together, employ just fewer than 1,500 persons.
Though their clients reside largely in Jamaica, securities dealers continue to gain ground by attracting a notable number of investors outside of the island. Local securities dealers have built a name for themselves by continuing to be among the most dynamic and innovative in the Caribbean region, offering superior returns on investments that surpass some of those offered by their first world counterparts.
The Jamaican securities industry has become a ‘hot-bed’ of activity in recent years, as dealers seek to be both more competitive with their product offerings, and to educate the current and potential investing populace on the ‘how-tos’ and benefits of investing.
Noteworthy among the industry’s many successes, is the provision of viable money management alternatives for Jamaicans who want more ‘bang for their buck’. The result of these endeavours has been nothing short of remarkable. Securities dealers’ offices have seen a significant increase in activity over the past few years, as persons scramble to take advantage of their attractively priced products and services.
This movement of funds has had an impact on the more traditional savings institutions, as investors who are now more informed, move a moderate amount of their money into higher yielding instruments. Some traditional financial agencies like commercial banks, building societies and credit unions have been virtually forced to respond to this shift in demand, by establishing their own securities dealing arms.
In the final analysis, investors are the ultimate winners, as players seek to keep up with the increased demand for securities. The industry can feel justly proud of its achievements, as in a relatively short period of time, it has risen to become one of the most vibrant in the region.