(868) 628-9100

Stocks and Shares

This is the core business of Bourse Brokers Limited. Because of our independent status, we continue to be the preferred stockbroking house of many institutional and individual investors. Our local equity research team is also recognized by many as unbiased and the best in the country.

This is the core business of Bourse Brokers Limited. Because of our independent status, we continue to be the preferred stockbroking house of many institutional and individual investors. Our local equity research team is also recognized by many as unbiased and the best in the country.

What is stockbroking?

Stock broking is essentially the process of buying and selling stocks, shares and other such securities on behalf of clients. Stocks represent a share of ownership in a corporation.

Benefits of investing in the stock market

Diversification: You can select shares from different companies, sectors and geographical regions thus spreading your risks.

Superior Returns: Over the medium to long term, shares tend to provide a higher return in comparison to deposits, bonds and other fixed income instruments.

Wealth Creation: There is a potential for wealth creation through capital appreciation and dividend income.

Liquidity: Stocks on the exchange can be sold thus making cash readily available.

Strategy to Beat Inflation: In times of higher inflation, equity investments show a higher net effect than fixed income instruments.

What is the minimum amount to invest?

Investors must make an initial stock purchase of TT$10,000 per trade per company.

Interested investors can call 1-868-226-8773 or send an email to

How do I buy shares?

In order for us to do any buying shares on your behalf you MUST open an account with Bourse as well as one with the Trinidad & Tobago Central Depository (TTCD).

Documentation Needed for Opening Brokerage Account

The Documents needed for opening an Account are:

  • Two (2) forms of photo identification (e.g. National Identification Card, T&T Passport or Driver’s License)
  • Proof of Address not older than 3 months (e.g. Utility Bill, Bank or Credit Card Statement)
  • Job Letter and recent Pay slip
  • A Source of Funds Declaration Form (which we will provide).




 Bourse can serve you by fulfilling the different roles as follows:

  • Executionary – you can make your own choices, and we buy and sell as you wish.
  • Advisory – we liaise with you and provide support on which choices are available but the final decision is yours.
  • Discretionary – you leave all the decisions up to us and we invest in various stocks as we see fit.

All purchasing transactions are done via cheque or direct deposit.

Payment must be made by settlement date which is 3 business days after the transaction date, T+3. The only cash payments which are accepted are for settlement of administrative fees ($20 per type of share.)

For first time stock broking clients, 50% of the payment must be made before the transaction is executed.


What are the commissions charged by Bourse?
• 1.5% on the first $50,000
• 1.25% on $50,000- $100,000
• 1% over $100,000.

These fees are standard and charged by all brokerage houses in Trinidad and Tobago.

There are also Trinidad and Tobago Stock Exchange (TTSE) (0.12%) and TTCD (0.06%) charges totaling 0.18% of the market value of a transaction.

How do I place an order?

An order can be placed by phone, through face to face meetings or via e-mail.

For a new client to place an order, Bourse requires a face to face visit. New clients are required to pre-fund their account which means that 50% payment must be provided up-front which is not customary after initial shares are bought.

Existing clients can call the order in on the phone. However, verbal instructions must be followed with written/ signed instructions. This can be emailed or faxed to our office.

How do I get confirmation that the trade is executed?

This can be done in 2 ways:

  • The Trader/ Client Relationship Officer (CRO) calls to advise you that the trade is completed.
  • A contract note is generated and is either mailed/ faxed to you.

When the CRO calls to advise you that the trade is done, he/she will also inform you of the amount due/payable and the settlement date

How do I sell my shares?

If you are interested in selling your shares and have share certificates in your possession, you will have to deposit these shares into your TTCD account before they can be sold.

Once the registrar of the company confirms that the share certificate(s) are valid, the shares would clear into your TTCD account and becomes available for trade. It is only at this time, that an order can be placed to have the shares sold. This process of depositing share certificates may differ based on the various registrars but it is usually three (3) business days.

Following the execution and transaction, a contract note of the trade is submitted to the client. This contract note is a legal document which specifies the volume and value of shares bought or sold the transaction price, the TTSE transaction charge and the commission payable to the broker. In the case of a purchase, the contract note is your proof of legal ownership until the settlement date.

How often do I receive statements?

Statements are mailed quarterly, by both the Broker and the TTSE. However, you can also request a statement at any time, over the phone or via email.

When can trading take place?

Trading takes place on all business days, excluding public holidays and Carnival Monday and Tuesday from 9:30 am – 12:00 pm and is open for viewing by the general public.

What form does dividend payment take?

All shareholders at this date are entitled to the dividend. The payment date is a date (approximately 2 weeks after) when the actual payment is done.

Dividend payments can be either via a cheque or electronically. Cheques are usually mailed to the shareholder and once the shareholder provides the relevant bank mandate information to the respective share registrars, the dividend would automatically be credited to the account information provided. 

How are prices of shares determined?

The TTSE does not fix the price at which a stock may be bought or sold. The price is determined by the demand and supply for the stock.

Between 8:00 am and 9:30 am on every trading day, there is a pre-open session during which Brokers enter orders into the trading system, but they are not immediately traded.

Once the market opens at 9.30 am, trades are executed on a continuous basis which means that any security can trade at any time during the trading session.

The closing price of a share listed on the First Tier, Second Tier and Mutual Fund markets of the TTSE is the Volume Weighted Average Price, calculated as the total value of shares traded in the day divided by the total volume of shares traded in the same trading day.

Can shares still be issued in a certificated form?

Yes, but in the event that you need to sell for any reason, you would still have to have them dematerialized.

What is the significance of the P/E multiple?

The price-to-earnings ratio is a financial ratio used for valuation: a higher P/E ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with a lower P/E ratio.

How can I monitor prices daily?

Post trading prices for each day are emailed to our clients who subscribe to this free service.

The TTSE website also publishes daily trade summaries and quotes.

These quotes are also published in all daily newspapers on the following day. 

How do I know when the Broker changes recommendations from buy to sell or vice versa?

At Bourse, we conduct in-depth analysis based on latest available financial data and our recommendations are contained in the Bourse Weekly Review which is published in Trinidad Express on Mondays.

In addition, our Managing Director hosts the Bourse Report on CNC3 every Monday morning at 6:15 am, which not only offers the best financial advice but the latest financial news. This report can also be viewed on our website, each week with an option to view past episodes.

We also have fully qualified Analysts available speak with investors upon request. 

What is the cheapest stock available and should I invest in this?

Although a stock is cheap in terms of price, this does not mean you should have it in your portfolio. You must be aware of the fundamental factors surrounding the performance of the company such as its past performance, profitability and ability to grow in the coming financial year.

An alternative measure of determining whether a stock is “cheap” is the P/E Multiple. Analysts usually have an average multiple based on the similar companies in the industry in which the company operates.

Companies that have a high P/E may have limited potential to grow earnings as this may make them expensive in relation to other firms operating under similar conditions with a lower P/E. Generally, the company with the lower P/E and highest probability to increase future earnings will be considered “cheap.” 

When is a good time to buy shares?

The Stock Market is a form of long-term investing. You should not worry too much about price movements based on intra-day trading but rather over the longer term. Your buying decisions should be based on these as well as advice from your Broker/Advisor.

What is a cross-listed share?

A Cross-Listed share is one that is listed on more than one Stock Exchange.

On the Trinidad and Tobago Stock Exchange, there are presently 4 companies which are domiciled in Jamaica, listed on both the Jamaica Stock Listed and Trinidad & Tobago Stock Exchange. They are National Commercial Bank of Jamaica, Jamaica Money Market Brokers, Grace Kennedy & Company and Scotia Investments Jamaica Limited.

What is the benefit of moving shares between the markets to execute a trade?

Clients who hold inventory in the security can switch positions by selling in one market at the higher price and buying at a lower price in another market- this is called arbitrage.

Why do cross-listed shares carry different prices?

Cross-Listed shares carry different prices in different markets at various points in time due to the demand and supply situation that exists for the particular share.

When the price of a cross listed stock is higher in one market over another, the possibility exists for arbitrage opportunities but this has risks.

Do I need Bajan and Jamaican currency to execute trade in regional markets?

  • Trades in Barbados and Jamaica are done in the national currency and settlement in US Dollars
  • Bourse has counter party brokers in both jurisdictions who will execute the trades
  • Investors can arrange their currency through Bourse Treasury

If I die, what will happen to my shares?

  • If the account is a joint account, the joint holder(s) will need to provide a death certificate. Bourse will then write the TTCD advising them of the death and the deceased’s name will be removed from the account, thus leaving the surviving shareholder(s) name on the account.
  • If an account is a single account, the estate will have to be probated, that is, the court will have to determine a value and appoint an executor. 

Can I open a joint account?

An account can be opened joint with a primary holder and a maximum of 3 joint holders 

What are the tax implications on dividends?

  • For a Trinidad and Tobago national, dividend income is exempt from Income Tax.
  • For foreign nationals, dividends are taxed at source subject to 15% withholding tax.

Is capital gains tax relevant in Trinidad?

Yes, but currently capital gains is at a rate of 0% in Trinidad

How is the interest of the investor protected under the constructs of the Self Regulating Organization (SRO)?

The Trinidad and Tobago Securities and Exchange Commission (TTSEC) is the governing body for the Trinidad and Tobago Stock Exchange (TTSE). Non-compliance with the rules of the TTSEC attracts penalties.

How do I transfer shares between brokers? Is there any cost attached?

  • Transfers attract a charge of $20 per security
  • Clients must provide written instructions to the Broker requesting the movement, subsequent to which, the Broker will write to the TTCD to effect the transfer.

Is there any guarantee on minimum rates of return?

No, there are no guarantees on the equity market

Do I have access to research on all equities listed on the Stock Exchange?

Yes, Bourse is the only local company that conducts in-depth research on all the stocks listed on the TTSE and we make it available to our investors and to the public at large.

If Bourse goes bankrupt, are my shares guaranteed?

  • Shares are held by TTCD, which is independent to the Broker
  • If Bourse goes bankrupt, the TTCD will assign shares managed by Bourse to an appointed Broker

Information On The Trinidad And Tobago Stock Exchange (TTSE)

Stocks can only be bought and sold if they are listed on the TTSE.

To become listed, companies must have in excess of 50 stockholders and they must comply with all regulations as required by the TTSE.

The companies that are listed on the Stock Exchange encompass various sectors including Banking, Non-Banking Finance, Trading, Manufacturing, Conglomerate, Property and   Non-sector companies.

It is important to note that investments, particularly investments in the stock market bring with it risk. There are, however, measures which can be implemented to mitigate such risk.

One such means is by having in-depth research on the companies in which you are investing. Bourse Brokers Limited and Bourse Securities Limited’s Investment Team can provide useful research and therefore assist you in making the best investment decisions.

Some information contained above has been taken from the Trinidad and Tobago Stock Exchange Website. For more information, please visit: