THE Jamaica Stock Exchange Limited (JSE) officially launched its 24-hour television channel called the Caribbean Business Exchange (CBX) on Wednesday, August 23, as it looks to deepen its product offerings and expand the reach of in-depth business analysis across the Caribbean region.

The channel is number 143 on Flow and 28 on Digicel in Jamaica, with a reach of over 30 territories in the Caribbean region thanks to Cable and Wireless (C&W) Business through Liberty Latin America Limited. Its tagline is “Your region, your business, your source” and it is the second major regional business cable channel after Business Access TV which is on 145 for Flow and 25 for Digicel.

“Business is the engine of growth for any country, yet we’ve observed that business news is limited to one to five minutes of airtime with, multiple businesses mentioned within that space. This cannot be adequate for viewers and listeners to appreciate what such businesses are doing. We believe that businesses should get not only an entire day of reporting, but also a whole night of persons in the Caribbean to hear, digest, and make the most intelligent decisions about how to do their business,” said CBX Station Manager Fitzroy Prendergast at the launch from the JSE’s Harbour Street head office.

The JSE said that a market survey revealed that 70 per cent of the respondents wanted more in-depth business information, which was relatively absent in the marketplace. The JSE currently hosts the Regional Investments and Capital Markets Conference and National Investor Education Week, alongside its eCampus and YouTube channel, for content. However, the launch of CBX will allow for more content to be created in the market space. The JSE is currently planning to introduce shorting again, as it upgraded its website this year, along with adding some upgrades to the (JTraderPro) platform.

Apart from delivering market news and regional programmes to reflect the realities on the ground, the JSE has a host of pillars that it intends to build on for CBX. Regarding local businesses and features there is an intention to introduce beyond the front desk, let’s talk stocks and inside the boardroom. Under the international business news, information from the Nasdaq, Luxembourg Stock Exchange and Canadian Securities Exchange would be featured. Under the regional business news pillar, regional conference presentations, daily updates from regional stock exchanges, United Nations gender issues, Jamaica Social Stock Exchange features and other sustainability initiatives would be featured. The segment of entertainment would have business movies, stock market games, family game shows, business pitches and other special features.

“The initiative will support the Jamaica Stock Exchange’s mandate of empowering and educating [the] Caribbean-wide investment community, demystifying investments for the Caribbean people, and strengthening market participation locally and across the region,” Prendergast added. Prendergast was the chief executive officer of Cable News and Sports Television for more than two decades.

He explained that the channel would allow advertisers wider access to the Caribbean and that money was well spent on the studio and control room to maintain the quality of the offering. MFS Capital Partners Limited had its renaming ceremony the day after the CBX launch, which represents the first ceremony on the channel. Key sponsors who came on board for the launch of CBX include Jamaica Money Market Brokers Limited, NCB Capital Markets Limited, Barita Investments Limited, Derrimon Trading Company Limited, FosRich Company Limited, Dolla Financial Services Limited, the Bank of Jamaica, Bank of Nova Scotia Jamaica Limited, and Kingston Properties Limited. The Barbados Stock Exchange (BSE), Trinidad and Tobago Stock Exchange (TTSE) and Eastern Caribbean Securities Exchange (ECSE) are some of the regional exchanges which will provide content for CBX.

“Most businesses today are recognising the need to connect with their customers through multiple channels — including digital media — but not forgetting traditional media platforms such as radio and TV, which I pretty much still engage in. I am confident that this platform will drive the number of persons interested in the capital markets, increasing access both locally and regionally. This initiative continues to break down geographic barriers and takes us closer to reaching the homes of the 44 million people across the Caribbean, not to mention the average 30 million tourists that visit us annually,” said TTSE CEO Eva Mitchell at the launch.

FosRich CEO Cecil Foster, BSE Managing Director Marlon Yarde, ECSE CEO Trevor Blake, assistant general manager of the Panama Stock Exchange Maria Guadelupe Caballer, Dutch Caribbean Securities Exchange CEO Dirk Jan De Graff, interim Barita CEO Dane Broadber, and NCBCM Chief Operating Officer Tracy-Ann Spence were some of the distinguished guests who joined the launch. Former Inter-American Development Bank country head for Jamaica Therese Turner-Jones was the guest speaker.

“Today has been eagerly anticipated by our exchange ever since [it was] agreed a little over two years ago to provide an avenue where we could enhance our services to the financial sector by utilising and enhancing our data to provide all sectors of the economy with focused and in-depth information on the Caribbean markets in an engaging, educational and entertaining way that captures the imagination of all,” JSE Managing Director Marlene Street Forrest closed ahead of her retirement next year.