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T&T Stock Exchange Independence Square Port-of-Spain

The Trinidad and Tobago Stock Exchange (TTSE) is in the process of redrafting rules for its transactions.

In a release on Monday, the TTSE stated it is “guided by legislated procedures and Rules designed to protect the integrity of the operations of the stock trading systems and platforms.”

The release continued, “Currently, the TTSE is redrafting certain Rules to keep pace with innovations which have enhanced the speed and transparency of transactions and trades. The revisions are taking place under the guidance of the Trinidad and Tobago Securities and Exchange Commission and will be available for public review when completed.”

These revisions, TTSE said are expected to tighten regulation of companies listed on the TTSE, and the buying and selling of stocks, shares and bonds on behalf of investors.

“Ultimately, they will help to boost public confidence in the role and function of trading on the capital market as a means of serving the ‘real economy’. That is the manufacture, distribution and consumption of goods and services,” the release said.

The main revisions to the Rules include:

Proposed Amendments to Disclosure Rules: The regulatory requirements for listed companies will be clarified further, and the possible violations will be included into the scope of self-regulatory supervision.

Proposed Changes to the Closing Price Methodology: Amended to restrict small volume trades from being included in the calculation of the day’s Closing Price.

Proposed Adjustment to the Settlement Period: Amended to reduce the settlement period from three business days.

The TTSE said it welcomes interest in the revised Rules from investors, brokers and the public in due course.