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Caribbean Exchanges Network (CXN) Framework and Infrastructure. Presented By: Marlon Yarde December 5, 2013. WHAT IS THE CXN?. - PowerPoint PPT Presentation
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Caribbean Exchanges Network (CXN)Framework and Infrastructure
Presented By: Marlon Yarde
December 5, 2013
WHAT IS THE CXN?
• The Caribbean Exchange Network (CXN) is a solution to allow investors, traders and brokers of all regional countries to have direct access to all financial products that are listed on regional securities exchanges
OBJECTIVES OF THE CXN
Objectives:
To provide an additional channel for encouraging and mobilizing domestic and regional savings
To project a larger footprint for the interest of international investors
To foster the growth of the domestic financial services sector
To increase the overall efficiency of investmentTo help reduce corporate dependence on borrowing and
improve the gearing of the Regional corporate sector
THE NETWORK Access will be provided via each Exchange’s network. Members will
not be required to make individual connections to each Exchange/Depository
Contingency: Appropriate backup systems will be implemented to mitigate against total failure of one exchange or the entire CXN
Telecommunication access– Should the TTSE network become inaccessible and there is still a connection to the other regions through the TTSE, the CXN will continue to operate (Example)
Application Access: Each jurisdiction will continue to control its own market. Access will be granted based on the role of the individual in the respective brokerage house, registrar and institutional investor.
System Administration & Maintenance Day to Day administration will be de-centralized Each system interface will be monitored by the technical team in the
respective regions
What is the real impact for Brokers?
Access to 100+ stocks in 3 markets Larger pool of investors If Trinidadian clients want to purchase stocks which are
traded on Jamaican and/or Barbados Exchanges, then Brokers will have to open account with CSD in these
countries Have with bank in local jurisdiction to facilitate settlement of
CXN transactions via RTGS Monitor 3 markets for best execution of cross listed stocks Explain applicable fees and conditions to clients
Looking ForwardPhase 2:
Connectivity for other Regional Exchanges
Integrated Platforms – One order book
Workstations populated using consolidated data feeds
Order routing through Fixed Gateway - automated order routing
CXN BrokersOrder Entry
InternetPort
AutomatedTrading
MarketData Feeds
CH/Depository
BrowseTerminal
Foreign-based non-resident or other
International Trader
Internet
CXN
OrderRouting
Affirmations
Thank You