· What types of Brokerage and Investment Services are offered by Grenada Co-operative Bank Limited?
- Administrative services to facilitate transactions as an intermediary between the client and the Eastern Caribbean Securities Exchange (ECSE).
- Purchase and Sale of equity and debt instruments on behalf of clients
- Arranging of securities on behalf of issuers
· How do I apply to the Bank to trade on the Eastern Caribbean Securities Market?
- Online – via link to the application form. Start the application process by meeting the Accounts Opening Requirements and completing a trade form.
- Call the Bank at 1-(473) 440-2111 (Finance Department) to speak to a Registered Representative to set up an appointment.
- Visit the Bank at its physical location at Building No. 8, Church Street, St. George’s, Grenada.
· What securities can be purchased and what are the prices?
The GCBL BIS facilitates the purchase and/or sale of securities from companies that are listed on the ECSE. See www.ecseonline.com/quotes
The price of the securities can also be verified with the Registered Representative.
· What is the minimum number of shares I can purchase?
There are no limits on the minimum number of shares that can be purchased.
A bid can be placed to purchase or sell any number of shares. Shares will be traded based on availability and at the best price for both traders.
· What is the Bank’s policy on Anti-Money Laundering?
Grenada Co-operative Bank Limited has established policies for Anti-Money Laundering and Countering the Financing of Terrorism. These policies are in compliance with, and required by, the legal and financial framework.
Grenada Co-operative Bank Limited has absolutely no tolerance for activities that are geared to be fraudulent or misleading. Any such activities will be reported to the authorities accordingly.
· How can investments in securities be financed?
Payments can be made to Grenada Co-operative Bank Limited via cheques, drafts and e-banking, wire transfers. All cash must be presented to a Retail Banking Unit.
· What are the fees associated with the investments?
A minimal fee of XCD $25.00 will be charged for normal administrative services. Additional fees will be required based on the type of services required.
A Registered Representative will be happy to confirm the final charges for all transactions as additional ECSE fees may apply.
· How do I choose an investment option?
The choice of investment options depends on several factors such as age, personal circumstances, financial commitments, liquidity needs and risk appetite.
· Can investors change their minds and withdraw an investment(s) at any time?
Yes. An investor can withdraw an investment prematurely, however there will be a fee incurred for this service. In terms of a trade more information can be obtained from a Licensed Agent at the Bank. See Contact information.
· How can I keep track of my investments?
You will be provided with regular quarterly statements. You are also welcome to contact us to review your existing portfolio. We may provide suggestions for your consideration based on ad hoc market situations and new personal or financial developments.