The Jamaica Stock Exchange has approved a twelfth member dealer licence issued to Proven Wealth Limited.

The licence allows Proven to offer stockbroking services and trade in shares.

The other 11 JSE members are Barita Investments, Capital & Credit Securities, First Global Financial Services, JMMB Securities, M/VL Stockbrokers, Mayberry Investments, NCB Capital Markets, Pan Caribbean Financial Services, Scotia Investments Jamaica, Stocks and Securities Limited, and Victoria Mutual Wealth Management.

dispose of licence

JMMB, which in June acquired the Capital and Credit Group of companies, has said it plans to dispose of the CCSL licence.

The Proven licence was the first to be issued since JSE demutualised in 2008, says JSE general manager Marlene Street Forrest in a release issued Friday on the new member.

Proven Wealth's CEO Chorvelle Johnson said in the joint release with the JSE that the wealth company will begin pushing immediately for the trading of fixed-income securities on the exchange.

Proven Wealth's parent, Proven Investment, is listed on the JSE as the first, and only, USD security.

business@gleanerjm.com