Relocation of FEAS head office to Armenia is historic event - Saroyan

19.05.2017 17:36
Relocation of FEAS head office to Armenia is historic event - Saroyan

YEREVAN, May 19. /ARKA/. Konstantin Saroyan, CEO of NASDAQ OMX Armenia, told journalists on Thursday that the relocation the headquarters of Federation of Euro-Asian Stock Exchanges (FEAS) from Istanbul, Turkey to Yerevan, Armenia, could be called a historic event.

The Extraordinary General Assembly of the Federation of Euro-Asian Stock Exchanges (FEAS), at its meeting held on May 16, 2017 in Tehran, has decided to move the Federation's headquarter from Istanbul, Turkey to Yerevan, Armenia, the press office of NASDAQ OMX Armenia stock exchange reported on Thursday.

With the majority of "for" and no "against" votes, the General Assembly elected Armenia as the new host country for the FEAS's headquarter, after 22 years of operation in Turkey, since the establishment of the Federation in 1995.

Moving the Federation's headquarter to Armenia NASDAQ OMX Armenia will start to support the administration of the Federation.

“There are no other international organizations’ head offices in Armenia,” Saroyan said. “The relocation of the office to Yerevan will significantly enhance Armenia’s global stature.”

In his words, the idea of relocation emerged after Istanbul’s stock exchange decided to quit the Federation.

“We proposed to move the head office to Yerevan, and our proposal was sustained,” Saroyan said.
Saroyan expressed hope that Armenia would contribute to development of the Federation.

“Despite the Federation is Euro-Asian it has little in common with the Eurasian Economic Union, where Armenia enjoys membership,” he said. “Here we have a quite big potential for attracting the CIS stock exchanges.”

Saroyan also said that he would hold concurrently his two positions.

The Federation of Euro-Asian Stock Exchanges (FEAS) was established on May 15, 1995 with 12 founding members.

Now the Federation has 30 members. They are stock exchanges, post-trade financial organizations, associations and regional dealers’ federations from 30 countries.

NASDAQ OMX Armenia is the only stock exchange currently operating in Armenia. On January 26, 2009, “Armenian Stock Exchange” ojsc was officially renamed as “NASDAQ OMX Armenia” ojsc. On June 5, 2009, “NASDAQ OMX Armenia” ojsc became the owner of 100% of the shares of the “Central Depository of Armenia” ojsc.

NASDAQ OMX Armenia and Central Depository of Armenia are among the main securities market infrastructure institutions in Armenia. The exchange offers to the market professionals a fully automated electronic trading platform. --0---


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