JMMB Rolls out Real-Time Stock Trading 

JMMB Group last week (July 20), made real-time stock trading official, using its online transaction platform, JMMB Moneyline. With the real-time trading feature, clients will now have access to the Jamaica Stock Exchange (JSE) order queues, so that they can view the asking and bid prices for the respective Jamaican-dollar stocks and their availability/number of units being traded. This information will allow clients to make more informed decisions about their offer price, based on market conditions. 

Additionally, clients will receive automatic email messages confirming their equity trades, within minutes, and unfulfilled orders can immediately be cancelled. Clients, are also able to utilize funds from pending settlements to place additional orders. This will enable clients to maximize the returns on their portfolio, by seizing other trading opportunities. JMMB’s real-time trading feature is embedded in its existing online portal, therefore, clients can easily fund their trading portfolio and/or invest their gains in other financial instruments.

Clients will, therefore, now benefit from an enhanced experience, as they can remotely place equity orders and monitor the assets in their portfolio, in real-time, without the need for any input from their financial representative or traders. 

Previously, equity trade requests would have been executed with the assistance of the JMMB equities team and/or financial advisors, in conjunction with the Jamaica Stock Exchange (JSE). This new feature will, therefore, allow JMMB clients to make more informed trading decisions and improve the efficiency of the trading process, with more autonomy for clients, by removing the ‘middle man’. 

All trades executed will incur the usual Jamaica Stock Exchange (JSE) cess, Jamaica Central Securities Depositary (JCSD) fees and JMMB’s broker commission fee of 0.5%, which is among the lowest in the local stockbrokerage community, in addition to general consumption tax (GCT) on the respective fees. 

In sharing more on the process, general manager of digital services, Gifford Rankine, outlined that this move is in line with the thrust towards improving the company’s digital offerings and operational efficiency, while offering seamless solutions for JMMB’s clients. Adding, “Our aim is to ensure we provide an exceptional client experience; as such we took the decision to beta test this new feature with select clients and our team and made further improvements before ‘going live’. Since introducing the feature, even in its beta-phase, we are encouraged by the great reviews received from our clients.”  To get started, clients would need to open a JMMB Equities Money Market Account (JMMB EMMA) and register for JMMB Moneyline.

Rankine further outlined that the roll-out of the real-time trading feature is timely, “as we are becoming a more industrialized society, characterized by increased digital access and usage. JMMB Group is seeking to remain on the cutting-edge of technology and provide digital solutions that will enhance the lives of our clients, while delivering on our promise of genuine partnership.” Clients can do self-registration online, for JMMB Moneyline, at jm.jmmb.com, so that they can access JMMB Moneyline, which facilitates several transactions that are currently carried out in branch, among other services such as: bill payment, monitoring of accounts, doing local and international wire transfers, creating standing orders, buying and selling stocks and foreign exchange services. Additionally, JMMB Moneyline allows clients to subscribe or redeem units from their unit trust accounts, by placing a dollar value order. 

As part of the digital thrust, the company has been improving its digital channels across its group operations, to include greater automation and standardization of platforms, processes and technology, to provide exceptional client experience, as well as easy and seamless solutions that add value for clients.