I consider that the establishment of a single stock exchange creates the opportunity for the development of a Caribbean numeraire currency. Certainly, if there is one book there should be one currency in which transactions are denominated. If we do nothing about it – it will be the US dollar – by default.
If we take a conscious step to create a regional numeraire currency – and it could be of  BIS Review 20/2005  3  equivalent value to the US dollar so as to eliminate any conversion difficulty when we actually do create a single transactions currency in the region.