NASDAX OMX ARMENIA and georgian association of banks sign memorandum on cooperation

03.07.2012 13:09
NASDAX OMX ARMENIA and georgian association of banks sign memorandum on cooperation

YEREVAN, July 3. /ARKA/. NASDAQ OMX Armenia and Georgia’s Association of Banks signed a memorandum on cooperation at the financial forum between the two states held in Dilijan on June 29.
The forum participants were the regulators of markets, stock exchanges, central depositories, banks of Armenia and Georgia, as well as international organizations.
“Memorandum implies the cooperation in information exchange, analysis of the market, financial experience exchange between the two countries,” NASDAX OMX Armenia director Konstantin Saroyan told ARKA.
According to him, the memorandum doesn’t define any particular steps, however includes actions tactics.

He clarified that in the framework of the memorandum the two countries will form Armenian-Georgian working group which will assess the actions for the further cooperation.
Saroyan added that it is also necessary to design a roadmap by which each of the states will be directed in stepping up their financial cooperation.
On his side, Deputy Chairman of the Central Bank of Armenia Nerses Yeritsyan ensured that the Bank will contribute significantly to the development of financial markets’ cooperation between Armenia and Georgia.

He also said that the forum will foster the formation of the single infrastructure for the financial markets of the both countries attracting some reliable investors to the region. It will also give the opportunity to the local companies to issue new tools, particularly, shares and bonds, he added.
Chief-Treasurer and Head of Financial market operations department, member of the Executive Board Grigori Zakaryan noted that the single securities market looks like very ambitious thing, but before forming it, it is necessary to choose the single financial tools which will make the trade between the states beneficial.

NASDAQ OMX Armenia (former Armenian Stock Exchange, Armex), was established in 2001 as a voluntary merger of 21 broker (dealer) companies.In January 2008, Nordic exchange operator OMX Group acquired 100% of shares of the Armenian Stock Exchange (Armex) and the Central Depository of Armenia (CDA). After NASDAQ and OMX merged in March 2008, Armex and CDA have become fully owned by the NASDAQ OMX Group, Inc.On January 27, 2009, Armenian Stock Exchange was renamed NASDAQ OMX Armenia. As of February 17, 2012, 12 shares of 11 issuers and 5 corporate bonds of 4 issuers are registered and listed on NASDAQ OMX Armenia Stock Exchange. —0—

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