IN an effort to increase investment from the Diaspora, Michael Lee-Chin-founded Canadian brokerage firm Mandeville Private Client Inc has developed trade execution and custody infrastructure that will support the purchase of securities listed on the Jamaica Stock Exchange (JSE) by investors living in Canada.

The arrangement, which was created in partnership with Fidelity Clearing Canada ULC (“Fidelity Clearing Canada”), will provide Mandeville's advisors and clients with access to JSE-listed investments through NCB Capital Markets Ltd. According to the company, clients are able to purchase investments in registered as well as non-registered accounts.

Investments on the JSE are typically not available for direct purchase by Canadian investors. However, senior vice-president and chief operating officer of Mandeville, Frank Laferriere, noted that the intiative is part of client/advisor experience road map that Mandeville is pursuing.

“We are pleased that our clients will now have access to the JSE as it provides a broader range of quality investment opportunities with high growth potential,” he said in a release from the company.

The arrangement is also aimed at improving market liquidity as Jamaicans living in Canada invest in their homeland while gaining attractive returns.

In 2015, the JSE was recognised by Bloomberg as the Best-Performing Stock Exchange in the world. The market index soared by 97 per cent with gains attributed to foreign acquisitions, stronger investor safeguards and a rebounding economy.

The JSE remained in the top 10 for 2016, and ended 11th last year. The local stock exchange has also demonstrated heightened investor confidence evidenced by its profitable performance and increased and continuous oversubscription of initial public offers (IPOs).

According to Mandeville, these factors have influenced its decision.

“As one of Canada's largest carrying brokers, Fidelity is motivated to find ways to support the unique business requirements of our clients, including accessing foreign markets. By working closely with Mandeville and their Jamaican partners, Fidelity was able to implement the necessary trade execution and custody infrastructure to support this initiative,” said Ted George, head of trading for Fidelity Clearing Canada.

The oldest and largest stock exchange in the English-speaking Caribbean, the JSE is the first to have an electronic trading platform, making overseas transactions more feasible.

Mandeville Holdings Inc is the parent company of the Mandeville group of companies, which includes Mandeville Private Client Inc , Mandeville Insurance Services Inc and Portland Investment Counsel Inc.