Several local stakeholders hosted the new Caribbean Business Exchange (CBX) cable television channel in Jamaica.
The CBX, which is a division of the Jamaica Stock Exchange (JSE), will provide round-the-clock news and information on local, regional and global developments in the trading, financial and capital markets to more than 30 Caribbean countries.
The channel, which was officially launched on Wednesday by JSE Chief Executive Dr Marlene Street Forrest, will broadcast on channel 143 on the Flow network and channel 28 on Digicel.
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Outgoing Jamaica Chamber of Commerce (JCC) President Lloyd Distant Jr., who spoke at the launch, said CBX content will serve to expand investors’ access to information and provide more in-depth information that will allow them to make more informed decisions about potential investments and investments.
“What I see this platform being able to do is provide clearer insights into current operations and the future direction of our industries and businesses as well. This increased access to information…is basically about the provision and improvement of transparency, which, it should be noted, is one of the core values of the JSE and one of the first of its listed objectives.
Distant Jr. said that given the platform’s opportunity to improve financial literacy, the JCC “expects it to go far in bringing a new set of investors into the fold.” .
“We consider this platform much needed, and we praise the JSE; we see this as… a monumental initiative. The JCC hopes that as more information becomes available, more companies will consider using the exchange as an approach to raising capital as well as streamlining and growing their businesses,” he added.
Chief Operating Officer (COO) of NCB Capital Markets Limited, Tracey-Ann Spence, described CBX as a “game changer”.
She noted that information remains an essential and necessary tool for day-to-day decision-making at all levels of the investment space.
“By launching the CBX, the JSE aims to strengthen the expansion of access to vital information that will benefit all stakeholders in the financial ecosystem. It is this type of cross-sharing of information that will bridge the regional connectivity gap,” she added. Spence said the evolution of technology over the years has created a level of access to information “never seen before”.
This, she pointed out, has significantly increased the investor base as well as the number of companies seeking funding, through the JSE.
The COO noted, however, that while the public has “infinite choices” when it comes to the data provided and consumed, the information may not [always] be accurate or be presented in a format that is difficult to understand.
She said this poses a risk to investor education and financial literacy, overall, in the region.
Barita Investments Limited Acting Managing Director Dane Brodber said it was “refreshing” to have a channel that “speaks directly to us in the broker and analyst community in the region and to the regional investment community. at large”.
Brodber said in what he described as a “rapidly emerging” business environment space, “I’m really looking forward to the [CBX] establish oneself as authority”.
Chairman and CEO of the Fosrich group of companies, Cecil Foster, said CBX’s offers are welcome because, “for companies like [ours]the Caribbean means a lot.
The Caribbean Business Exchange will broadcast under the slogan – ‘Your Region, Your Business, Your Source’.