YEREVAN, November 8. /ARKA/. NASDAQ OMX Armenia stock exchange introduced today a new instrument – a platform for concluding seven-day inter-bank loan transactions.

Armenian commercial banks will take part in the trading on this platform. Trade sessions will be held every working day from 11:00 to 13:00. Throughout ten minutes after session closure there will be post-trade sessions for lending or borrowing money at the average interest rate shaped during this trading day.

“This is another important step in expansion of the range of stock market services and financial instruments here,” NASDAQ OMX Armenia CEO Konstantin Saroyan said.

He said that stocks, corporate and government bonds are traded and cleared at the stock exchange along with currency, repo, overnight and time lending transactions.

NASDAQ OMX Armenia Deputy CEO Karen Zakaryan, on his side, said that this lending platform will become the largest market of this stock exchange.

He said that the time loan platform is a unique in financial markets for its essence, since it combines the systems of bilateral auction and centralized collateral management, which is regulated via complicated software.

“Many more developed stock exchanges don’t apply such technology so far, and we are proud of the fact that today we offer a conceptually new financial instrument to the market thanks to our team’s work,” he said.

NASDAQ OMX Armenia plans to replenish the range of this platform’s instruments with new short-term and long-term lending resources in 2013.

NASDAQ OMX Armenia (former Armenian Stock Exchange, Armex), was established in 2001 as a voluntary merger of broker (dealer) companies.

In early November 2007, the stock market was reorganized into an open joint stock company.

In January 2008, Nordic exchange operator OMX Group acquired 100% of shares of the Armenian Stock Exchange (Armex) and in June 2009 it became the sole shareholder of the Central Depository of Armenia. -0--