"The JSE as part of its mission to inform and educate has partnered with cellular provider LIME and NCB Capital Markets Limited to provide market information to LIME customers who subscribe to receive text messages on the JSE main index," said Marlene Street-Forrest.

"This is known as the JSE Text Alert."

Substantially discounted

It costs LIME Jamaica customers $3 to send intra-network text messages, but Street-Forrest said the stock alerts, which are being paid for by NCB Capital Markets, were substantially discounted.

"They are providing this service to the JSE at very concessionary rate to allow the market information to be sent on a daily basis to their customers and investor/potential investors," said Street-Forest.

"NCB Capital Market, based on its sponsorship, is paying the cost associated with the service LIME is providing in order that interested persons are able to get this daily text message free of cost."

The first JSE Text Alert went out to all LIME Jamaica customers, she said.

The phone company does not comment on its customer base, but at last estimates it had 660,000 clients.

Street-Forrest anticipates that in the first year, the number of recipients of the alerts will settle at around 20,000, and twice that number in year two.

"This will provide an ideal opportunity to keep the investing public informed while simultaneously generating interest in the market, " Street-Forrest explained.

Currently, only Lime customers have access to the stock alerts but JSE says it plans to enter similar arrangements with other mobile networks.

"Partnership with other providers is something to be looked at in the future, but for now we are building a market and working with LIME," Street-Forrest said.

sabrina.gordon@gleanerjm.com