Central depositories of Armenia and Russia to further cooperate

10.01.2014 14:39
Central depositories of Armenia and Russia to further cooperate

YEREVAN, January 10. /ARKA/. The central securities depositories of Russia and Armenia signed a memorandum about cooperation to further develop and strengthen mutually beneficial ties, the press office of NASDAQ OMX ARMENIA stock exchange reported.

The sides agreed to expand their cooperation for creating an effective and reliable transboundary securities settlement system.

Under the memorandum, the depositories intend to establish close business ties and arrange exchange of information on securities, changes in regulations, the technologies used and development plans, as well as on involvement of the depositories in projects, working groups and other events of mutual interest. Apart from this, the sides are planning to hold bilateral consultations on all aspects of cooperation.

Chairman of board of Russia’s central securities depository Eddy Astanin said development of strategic partnership with central depositories of CIS countries is a priority for Russia’s depository.
Astanin expressed confidence cooperation between central depositories of Armenia and Russia will have a favorable impact on development of financial markets.

Better access to information about securities in the list of services will help increase transparency of the markets for investors from both countries, Astanin said.

Director of Armenia’s central securities depository Vahan Stepanyan, in his turn, said appreciated expansion of cooperation with the Association of central depositories of Eurasia, with Russia’s depository in particular.

He expressed confidence the memorandum will help increase transboundary trade and investment flows between the two countries. At the same time, better access to information about securities and their issuers will ease decision-making by local and foreign investors, Stepanyan said.

In October 2011 the depositories signed an agreement about opening and handling a nominal holder account of Russia’s central securities depository in Armenia’s central depository.

Russia’s central securities depository was founded on June 27 1996 and is part of Moscow Stock Exchange Group. Total cost of securities in custody of Russia’s central depository was 21.8 trillion rubles as of the end of December 2013.

The Central Depository of Armenia is the sole centralized custodian and holder of register in Armenia and is an affiliate of NASDAQ OMX Armenia.

NASDAQ OMX Armenia (former Armenian Stock Exchange, Armex), was established in 2001 as a voluntary merger of 21 broker (dealer) companies. In November 2007 the stock exchange was reorganized into OJSC. OMX (current NASDAQ OMX) is a holder of 100% stock of NASDAQ OMX Armenia.

The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,300 companies, it is number one in worldwide listings among major markets. NASDAQ OMX technology supports the operations of over 80 exchanges, clearing organizations and central securities depositories in more than 50 countries.–0--

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