Georgian financier calls for merging Armenian, Georgian securities market

29.06.2012 20:59
Georgian financier calls for merging Armenian, Georgian securities market

DILIJAN, June 29. /ARKA/. Gayoz Sanadze, director-general of the Central Depository of Georgia suggested that Armenia and Georgia merge their securities markets.
"Armenian and Georgian markets are very small and not particularly attractive to foreign investors. Our way is to get united", Sanadze told reporters on Friday during the first Armenian-Georgian forum of financial markets. He stressed that Georgian shareholders are ready for this kind of merger.
"It is done through organizations such as Nasdaq OMX, which being present in different countries, organizes a single trading platform, including uniform trading, settlement, information and communication rules, which greatly facilitate interaction between people in different countries", he said.

Mr. Sanadze said Nasdaq OMX may play a key role in solving such complex problems as development of stock markets in Armenia and Georgia, by connecting the Georgian Stock Exchange to its network of exchanges.
"Our merged stock market will be more attractive for both domestic and foreign investors", he added.
Dilijan hosted today the first forum of financial markets of Armenia and Georgia.
The forum was attended by representatives of market regulators, stock exchanges, central securities depositories, banks in Armenia and Georgia, as well as international organizations. -0-

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