Stock Exchange charges increased

It's now costing more to conduct transactions on the Jamaica Stock Exchange (JSE). Effective Tuesday, the cess on transactions was increased by 0.1% or 0.05%,  to be paid by the buyer and seller.

   
The JSE says the charge on contract notes issued by brokers for the purchase or sale of  shares will be 0.25% on each side of  a transaction.

   
According to Marlene Street-Forrest, General Manager of  the Stock Exchange, the increase was triggered by rising operational expenses, occasioned particularly by the slide in the value of the Jamaican dollar.

"Our services... our core platform is linked to the US dollar in terms of service fees,", she explained, adding that as a result of that there was no option but to increase the charges "by this mimimal amount."

The cess is a part of  the revenue base of  the Exchange.