YEREVAN, September 29, /ARKA/. Vahan Stepanian, head of the Central Depository of Armenia was elected chairman of the Association of Eurasian Central Securities Depositories (AECSD) at the annual general meeting of the Association September 9-10 in Minsk, Belarus, the press service of NASDAQ OMX Armenia stock exchange reported.

It said in his new capacity Vahan Stepanian will manage the work of the Association, coordinate the joint activities of AECSD members and its working groups. He will also represent the AECSD to expand and manage its relations with international peer associations.

The Association of Eurasian Central Securities Depository was established on December 12, 2004 as a union of central depositories of the CIS countries and currently comprises 11 member depository institutions. The Association's mission is to develop and enhance depository operations, create a common depository environment, and integrate central securities depositories of the CIS countries into the global securities settlement system.

The next annual general meeting of the Association of Eurasian Central Securities Depositories, as well as the VIII International Conference of the Association are planned to be held in Yerevan in September 2011. -0-