TTSEC launches online business solution, EASi
Image taken from video.
The Trinidad and Tobago Securities and Exchange Commission (TTSEC) has launched its online business solution to the securities market.
The Electronically Advanced Submission interface or EASi platform is expected to revolutionise the way in which the securities industry is regulated.
EASi, TTSEC said, will enable market players to navigate the system, from submission and renewal of applications, to disclosure filings among other mandatory services.
Lystra Lucillio, Acting Chief Executive Officer, at the virtual launch on Tuesday noted: “The securities market has, and continues to, contribute significantly to our economy’s GDP.
To date, we have over 570 registrants. Our data also indicates that as at July 31st, 2020 the securities market was valued at over TT$325 billion – approximately twice the size of Trinidad and Tobago’s GDP for 2018.”
“It is therefore quite fitting that we launch our EASi platform during this COVID-19 global pandemic, when the demand for contactless delivery of services is critical to slowing the spread of the coronavirus and saving lives.
We are fully cognisant of the realities of our time and will continue to employ the use of technology to respond to the needs of the market and the overall improvement of our services to Trinidad and Tobago,” she said.
The EASi platform is expected to improve the TTSEC’s current process by enabling users to conduct their business at any time or from anywhere.
For the TTSEC, the launch of this e-business solution is the culmination of an involved organisation-wide ICT project.
It delivers on the organisation’s core strategic goal to, ‘improve operational efficiency and effectiveness, by developing an organisation-wide information and communications technology infrastructure to support the data collection, dissemination and decision-making capabilities of our key functions’.
EASi is a free online service that facilitates faster review and turnaround time for submissions and grants the user the privilege to track the status.
The EASi interface is accessible via the TTSEC’s corporate website.
The platform offers a secure, convenient and cost-effective method of doing business with the TTSEC.
TTSEC said the integrated system also allows for a greater degree of transparency in the regulatory process and will strengthen confidence in the local securities market.
Market representative, Christine Sa Gomes spoke on some of the features of the new platform.
“If I had to highlight one feature of the interface that would receive my highest praise it is the validation factor. Many times, when submitting documents, a typographical error, missing check mark or an incorrectly written date can stall a submission by as much as two to three weeks.
With the validation requirement written into the program you are alerted immediately that a line item is incorrect or missing… This operational efficiency translates through the entire process… Moving us forward to a digitised economy and a paperless system.”
The TTSEC’s EASi platform is aligned with the national strategy for the digitalisation of public sector services and expansion in the use of financial technology providing user access to most required forms, and business intelligence systems that link and pre-populates smart forms.
Further, the EASi interface enhances the TTSEC’s control systems by integrating registration, continuous disclosure, contravention, monitoring, surveillance and other data stores, to boost accessibility, reporting and decision-making.
The application of EASi is illustrative of the fact the TTSEC is moving the securities industry of Trinidad and Tobago forward on the ease of doing business index and is in step with the country’s digital transformation.
Lucillio added that TTSEC is bridging the gap between regulation and economic development, and making it easier and more efficient to do business in Trinidad and Tobago.