New portal for stock market investors
Published:Wednesday | February 15, 2023 | 12:50 AM
Investors who hold stocks, bonds and other securities and have them deposited at the Jamaica Central Securities Depository, now have a web-based portal that can take care of queries about their accounts and give real-time updates on securities that they have deposited with the JCSD.
The platform was installed by Developers Software Architects Limited in June 2022. Pilot testing and integration took seven months, leading to last week’s launch of the portal, according to JCSD Assistant Manager for Registrar Services, Tamieka Ricketts.
A cross-functional team, drawn for various areas of operation at the Jamaica Stock Exchange, also worked on the project, Ricketts said.
JCSD oversees some 283,613 active accounts. In 2022, the depositary processed over 3,427 requests for clients, said General Manager Andrea Kelly.
Ricketts said given the number of queries, the JCSD felt it needed to address questions of efficiency and rapid turnaround.
“Looking at the number of queries, we tried to find suitable tools to help filter out what was common between these queries. So, for statements and history, for example, clients can now go online rather than rely on designated staff to do those queries,” she said.
Investors needing to register can access the JCSD domain through jcsdportal.jamstockex.com, where visitors will be prompted to register.
“If you already have a JTrader account, then all you will need are those credentials and you get access to the features. But if you don’t, then you will have to go through the registration process by filling out the necessary details on the form,” Rickets said.
Investors can add their JCSD accounts through the portal; generate statements to show stock holdings and values; view shareholder notices relevant to the stocks they hold; get payment information; and view, edit and add mandates for dividends and direct-deposit instructions.
By the end of February, investors using the portal will also receive automatic messages about changes in their accounts, for example, when securities are bought or sold on their behalf, Ricketts said.