Investing Options – The Regional Government Securities Market
What is the Regional Government Securities Market?
The Regional Government Securities Market, known commonly as the RGSM, is a market for the purchase and sale of securities issued by member governments of the eight EC Dollar territories. At present there are securities issued by the governments of Antigua & Barbuda, the Commonwealth of Dominica, Grenada, St Lucia, St Kitts-Nevis and St Vincent and the Grenadines. For more information on the RGSM you can contact any broker or visit our website at www.ecseonline.com
Regional Stock Market Summary Trading Reports
as at Friday 14, November, 2020
Eastern Caribbean Securities Exchange (ECSE)
There were no reported trades on the ECSE for the week ending November 13, 2020. Index closed at 161.2
Regional Government Securities Market – The Government of Antigua and Barbuda (hereafter referred to as GoAB) is offering to raise financing through a series of issues on the Regional Government Securities Market (RGSM) between January and December of 2020. The GoAB’s 2020 RGSM Issuance Programme is detailed in this Prospectus for consideration of investors and market participants in general. The securities will be issued on the RGSM between the months of January and December 2020 and will be traded on the Eastern Caribbean Securities Exchange Ltd (ECSE). The upcoming issue will trade under the following: ESCE symbol – AGB231121; Instrument – T-Bill; Amount – EC$15 million; Tenor – 365-day; Auction Date – 20 Nov 20.
In the event there is an oversubscription, the GoAB is willing to accept up to an additional five million Eastern Caribbean Dollars (EC$5m) of the oversubscription amount issued in each of the issues. The securities are being offered to refinance maturing RGSM securities, assist with the Government’s short-term cash flow management requirements and facilitate ongoing liability management operations to lower the public sector’s interest burden. The securities will be issued under the authority of the Treasury Bills Act (2005) and the Finance Administration Act (2006). The securities will be governed under the laws of Antigua and Barbuda. Bidding for the securities will open at 9:00 a.m. and will close at 12:00 noon. Settlement for successful bids will take place on the following business day of each auction.
More information on the securities available for sale and other issues can be obtained at the ECSE website at www.ecseonline.com or by contacting a broker.
Barbados Stock Exchange
This week, the Regular Market traded a total volume of 648 shares compared to 683 shares last week. The two companies traded were Goddard Enterprises Limited with 646 shares (99.69%) and West India Biscuit Company Limited with 2 shares (0.31%). Index closed at 2626.88.
Jamaica Stock Exchange
Overall Market activity resulted from trading in 41 stocks of which 12 advanced, 23 declined and 6 traded firm. Market volume amounted to 12,184,160 units down from (12,817,056 units last week) valued at over J$359,160,713.44. JMMB GROUP Ltd was the volume leader with 3,0546,495 units (25.08%) followed by KINGSTON WHARVES LIMITED with 3,002,991 units (24.65%) and WIGTON WINDFARM LIMITED ORDINARY SHARES with 1,459,470 units (11.98%). Index declined by 1,510.85 points (0.4 %) to close at 377,828.83.
Jamaica Junior Stock Exchange
Overall market activity resulted from trading in 32 stocks of which 13 advanced, 14 declined and 5 traded firm. Market volume rose to 12, 631, 994 units from 3,359,001 units last week, valued at over J$33,900,772.24. Index closed at 2,539.03.
Trinidad & Tobago Stock Exchange
Overall Market activity resulted from trading in 26 securities of which 7 advanced, 12 declined and 7 traded firm. Trading activity amounted to 346.131 shares crossing the floor of the Exchange valued at TT$4.49 million. The volume leaders were GRACEKENNEDY LIMITED with 107,074 shares followed by GUARDIAN HOLDINGS LIMITED with 58,947 shares.
The All T&T Index declined by 6.31 points to close at 1,741.12. The Composite Index declined by 6.31points to close at 1298.25 and the Cross Listed Index declined by 0.05 points to close at 115.62. The SME Index traded firm to close at 64.77. The USD Equity Market did not record any activity.
Guyana Stock Exchange
3 stocks advanced and 2 traded firm as 8,555 units crossed the floor. Banks DIH was the volume leader with 1,230 shares traded. The LSI closed at 161.2.