Bridgetown, Barbados – The CARICOM Private Sector Organization (CPSO) is pleased to announce that PricewaterhouseCoopers (PwC) has been awarded the Consultancy for the ‘Study to Articulate Feasible Models to Effect a Regional Stock Exchange Among Participating States of the CARICOM Single Market and Economy (CSME)’.
Following a rigorous and transparent selection process, the decision to select PwC to lead the Study to Articulate Feasible Models to Effect a Regional Stock Exchange Among Participating States of the CSME was taken at a meeting of the CPSO, Regional Stock Exchange Study Project Steering Committee (CPSO-PSC) held on July 21, 2025. The CPSO-PSC is comprised of representatives from regional stock exchanges, dealer-brokers, listed companies, Central Bank Governors, the CARICOM Secretariat, regulators, and representatives from CPSO’s Executive Committee and Secretariat. The CPSO-PSC will maintain overall management and coordination responsibility of the Consultancy.
The ‘Study’ will focus on exploring models for a regional intermediatory mechanism for securities trading, incorporating key market institutions such as Securities Exchanges, Securities Regulators, Broker-Dealers and Issuers, that will achieve or approximate the essential features of an integrated capital market across CARICOM Member States. A key objective will be to identify a feasible framework that is both operationally efficient and minimally burdensome (financially or administratively) to participating institutions, while ensuring adequate regulatory oversight to safeguard investors.
The Study will be undertaken in two phases:
- Phase I: Establishing The Feasibility of a Regional Stock Exchange
- Phase II: Identifying The Appropriate Model and Outline of the Fit for Purpose Architecture
PwC’s comprehensive proposal, deep industry expertise, and proven track record in financial market development were key factors in their unanimous selection. The firm brings extensive global experience in advising on capital market reforms and regulatory frameworks. The PwC Team will work in close collaboration with the CPSO-PSC and other stakeholder entities to ensure that the project is undertaken in a manner which best aligns with regional aspirations and international best practices.
Efficient capital markets play a critical role in economic development by channeling resources from investors (individuals and institutions) to businesses and governments to support operational, investment and capital expenditure requirements. The benefits of securities exchange integration include optimal capital mobilization to support development, diversified risk, more efficient and competitive financial markets, lower financing costs, higher returns, and the overall increase in cross-border flow of capital.
The establishment of a robust and dynamic regional stock exchange is crucial for fostering economic growth, attracting investment, and providing new opportunities for businesses and investors across our Region.
This Study is expected to lay the groundwork for a more integrated and accessible capital market ecosystem within the Region, that presents opportunities for greater investment options and opportunities for capital raising People of CARICOM, businesses and regional economies.
The Regional Stock Exchange Study was endorsed by CARICOM Heads of Government at the Forty–Eighth (48th) Meeting of the Conference, held in Barbados from February 19-21, 2025.
The CPSO is delighted to be partnering with regional stakeholders and with PwC in undertaking this Study, given the transformative potential for the Community.
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