The Trinidad and Tobago Stock Exchange Limited (TTSE) announced on Thursday (September 17) that it has launched an online trading platform, TOP [TTSE Online Platform], which allows for the buying and selling of securities.
The online trading platform, which first went live on July 31, is said to be one of many strategic initiatives the TTSE has had in its pipeline for a more efficient and faster means to stock trading.
Investors with a TOP account may access the platform from any electronic device, by logging on to top.stockex.co.tt.
“Our goal is to widen the trading options for existing investors and additionally, to attract and engage new investors to trade on the stock market.”– TTSE Chief Executive Officer, Amoy Van Lowe
TOP allows investors to enter orders 24 hours a day, 7 days a week. Once an order has been placed outside of Market Pre-Open Hours [8:00am to 9:30am] and/or Market Open Hours [9:30 am – 12 noon], the order will be queued and executed at the start of Market Pre-Open Hours on the next trading day.
Additionally, TOP also allows the user to view real-time movements in their portfolio and the stock market, and manage multiple trading accounts on the platform.
TTSE Chief Executive Officer, Amoy Van Lowe, said in a press release on the launch, “TOP is most definitely a game-changer for the investing population, as it allows for the empowerment of new and existing investors, the stimulation of trading and the growth and evolution of the local stock market. Through TOP, an investor can buy and sell any security listed on The TTSE, such as stocks, mutual funds and corporate bonds, with the only exception being the Government Bonds.”
Van Lowe further added, “The TTSE recognises the need for change on the local stock market and this is evident through our new brand identity and website, which we launched through our social media platforms at the very end of July 2020. Our goal is to widen the trading options for existing investors and additionally, to attract and engage new investors to trade on the stock market.”
To begin trading on TOP, an investor must create a TOP account, be in possession of a Trinidad and Tobago Central Depository Limited Broker Account to allow for the transfer of funds, and have a valid email address.
The TTCD is a wholly-owned subsidiary of the TTSE and facilitates efficient, safe and prompt clearing and settlement of securities transactions. Shareholders must open a TTCD Broker account with a Registered Stockbroker.
The TTSE advises that with any investment decision, there is risk, despite the method used. Investors are urged to identify their investment goals and objectives, risk tolerance and investment horizon before making their decision and seek the professional advice from a financial advisor and/or stockbroker.