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Tuesday 12 January 2021

The EDB to Provide Grant to Armenia Securities Exchange

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YEREVAN (EDB press service) — The Eurasian Development Bank (EDB) will provide Armenia Securities Exchange with a grant to upgrade its software. The financing will be extended from the Technical Assistance Fund (TAF).

According to the signed agreement, the EDB plans to finance the bulk of the costs to upgrade existing software solutions and invest in Armenia Securities Exchange’s new trading system. In addition to cutting-edge trading software, the new system will make it possible for any investor to directly access the exchange’s trading platforms through a broker-dealer to trade online per international standards. This feature is an indicator of the quality and attractiveness of modern exchange services.

Hayk Yeganyan, CEO of Armenia Securities Exchange said:

Technological modernisation is a priority for Armenia Securities Exchange, as its success builds on the availability of its services to a wide range of traders. We appreciate the EDB’s support in advancing Armenia’s capital market. The new trading system will help to expand exchange membership, increase the number of securities in circulation, introduce new exchange services, and encourage businesses to list and issue securities abroad. These factors will definitely help to improve the exchange’s key financial indicators further.

Armenia Securities Exchange or AMX, formerly NASDAQ OMX Armenia, is the only stock exchange currently operating in Armenia, located in Yerevan. The state regulatory authority for the stock exchange and the Armenian securities market is the Central Bank of Armenia (CBA). Instruments currently traded on AMX include stocks, corporate bonds, government bonds, currency, SWAP and REPO (repurchase agreements) on corporate securities.

Since 1995, the Armenian Stock Exchange has been a member of the Federation of Euro-Asian Stock Exchanges. The headquarters of the Federation is located in Yerevan.

The stock exchange began operations in 2001 as a self-regulatory organization founded by the exchange members. In November 2007, pursuant to relevant amendments in the legislation covering the local securities market, it was de-mutualized and became an open joint-stock company. On 21 November 2007, 100% of the stock exchange’s shares were purchased by the Nordic exchange operator OMX. In March 2008, after the merger of NASDAQ and OMX Group was completed, Armenian Stock Exchange, as well as the Central Depository of Armenia, became part of the NASDAQ OMX Group. On 27 January 2009, the Armenian Stock Exchange was officially renamed NASDAQ OMX Armenia. Later the Central Bank of Armenia took over the exchange, and on 18 January 2019, it was renamed Armenia Securities Exchange (AMX).

In September 2020, it was announced that the Warsaw Stock Exchange is interested to the acquire 65% of AMX shares.

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