NCB Capital Markets Limited (NCBCM) capped off a successful year, receiving two significant awards at the 15th Best Practices Awards held by the Jamaica Stock Exchange (JSE) on Wednesday, December 4, 2019. The awards recognised outstanding performance in 2018.
The brokerage house copped the top award for revenue generation and market activity and shared the night’s top honour, the Chairman’s Award for Top Member Dealer, with Sagicor Investments Limited.
This achievement came on the heels of the record-breaking listing of Mailpac Group Limited on the Junior Market of the stock exchange earlier that day.
“This year has been tremendous for us and builds upon our achievements in 2018,” stated chief executive officer of NCB Capital Markets Limited, Steven Gooden. “In the last year, we have continued to prove our mettle as a trusted advisor to an increasingly diverse group of clients. We are determined to continue to facilitate that growth so that we create and nurture wealth for them. The recognition of that work by the JSE is meaningful for us and a fitting reward for the dedication of our outstanding team. We are truly grateful for this acknowledgement of our achievements.”
The calendar year 2019 has been a successful one for NCBCM, as the company has had several impressive listings on the stock exchange, including two listings on the Junior Market as part of its SME initiative. In order to help companies in need of financing accelerate their development, NCBCM has waived arranger fees for businesses which are desirous of listing on the Junior Market.
In addition to Mailpac’s initial public offering (IPO), NCBCM has listed Stanley Motta Limited, The LAB, Eppley Caribbean Property Fund Limited and QWI Investments in 2019.
The end of the year will be spent preparing the road map for the Trans-Jamaican IPO for which the company won the mandate as lead broker and arranger.
NCBCM has also worked with corporate customers on private placements, including a $3.7-billion loan for Port Authority of Jamaica in March 2019 and the US$280-billion bond for New Fortress Energy.
There is increasingly a focus of leveraging innovation to continue to improve the customer experience for clients.
“At the forefront of my mind is ensuring that I help my team to deliver a world-class experience every day and continue to ensure that innovations, like our online trading platform GoIPO, provide greater advantages for all of our customers,” Gooden added.
GoIPO is an online portal, which was launched on April 1, 2019 that automates and accelerates the submission of applications for IPOs to the Jamaica Central Securities Depository at the JSE. The portal also provides information about the listing of the relevant companies, including their prospectus.
Additionally, it allows clients to track the progress of application until shares are allocated. One does not have to be a customer of National Commercial Bank Jamaica Limited (NCB) to use the platform. However, NCB customers have an advantage as they will be able to fund the purchase directly from their account in one step. Online applications for IPO increases efficiency and facilitates a greater volume of applications than the traditional manual process. This innovation will allow NCBCM to support an increased customer base in Jamaica and in the Diaspora who wish to participate in IPOs.
In keeping with its goal to help its clients build wealth, NCBCM recently held an investment seminar called ‘Wealth Building 101’ at NCB Financial Group Limited’s headquarters in New Kingston.
“Our aim was to equip new and prospective investors with information and tools to help them prosper on their investment journey,” Gooden said.
The event was live-streamed so that people who were not at the event could gain from the information. Wealth advisors were also on hand to facilitate the opening of accounts for those who were preparing themselves to take advantage of ways to increase their financial strength, including investing in upcoming IPOs. Similar sessions are being planned for the coming weeks.
“We are increasing outreach to our clients, and prospective ones, during this period as we want to recommend that a part of the rewards for their hard work over this year be used to build their future wealth,” Gooden revealed. “While we know Christmas is a period where there is a focus on spending, we are also saying that consideration should be given to investing. NCBCM offers gift certificates which can be used for purchasing stocks and other investments. There is also the opportunity of an IPO that we are preparing for very early in the new year.”