NASDAQ OMX Armenia and Central Depository launch new strategy for 2018-2020 – new trading system, crowdfunding platform and mobile application

25.07.2018 19:20
NASDAQ OMX Armenia and Central Depository launch new strategy for 2018-2020 – new trading system, crowdfunding platform and mobile application

YEREVAN, July 25. /ARKA/. NASDAQ OMX Armenia’s and Central Depository of Armenia’s supervisory boards have approved the high-level strategy and development plan for 2018-2020, the press office of the stock exchange reported on Wednesday.

As the companies seek to utilize business opportunities and strengthen their positions within local and regional capital markets, the team has developed a new strategy and initiated a reorganization to support the implementation of the key initiatives for the next three years.

“We will be striving to identify new business opportunities both locally and internationally that can create economic value for and within Armenia. At the same time, we are trying to position our core competitive advantages in a right appealing way to attract more business opportunities and generate more revenue for our companies,” commented Hayk Yeganyan, CEO at NASDAQ OMX Armenia.

What to be Introduced

Some projects have been worked out for next years.

The NASDAQ OMX Armenia strategy includes a range of other activities that all aim to promote the development of the Armenian capital

In particular, the strategy aligns with the changing geopolitical, financial and technological enhancement environment. It focuses on NASDAQ OMX Armenia’s plans to start a set of activities that include among many others.

It also implies the replacement of entirely the old trading technology with a modern one, which can provide direct connectivity to our exchange both for local retail and international traders and the introduction of a new crowdfunding platform that will enable startups to raise equity and debt capital via our services.

There is also the introduction of Alternative Investment Market of Armenia (AIMA), where the issuers of securities can directly sell their bonds and other securities to retail investors, with guaranteed settlement at the depository level.

Cross-listing opportunities with European and Eurasian exchanges for bridging the two regions and using new business opportunities which have risen due to current geopolitical situation will be generated.

New anonymous OTC FX marketplace will be introduced as well.

A multicurrency B2B unsecured credit trading platform for major companies, enabling trades on their own accounts, will be opened.

FundNet, a fund registration platform, allowing local and international fund managers to set up multicurrency Armenian investment funds and benefit from a favorable legal regulations of Armenian jurisdiction, will be introduced.

An electronic voting (e-voting) service at the depository for the ease of general shareholder meetings will be developed and introduced.

The implementation of mobile/online applications for using depository services is planned and affordable corporate services and solutions both for potential issuers and trading members to assist them with their entry to the exchange will be launched as well. The services will not be limited to locals only, but will be further extended to international clientele.

Prospects and Opportunities

“Partnering with Clearstream Bank Luxembourg, Raiffasen Bank and Russia’s National Settlement Depository and others, we make Armenian securities accessible to over 50 markets,” said Vahan Stepanyan, CEO at Central Depository of Armenia.

“Now we aim to revive the international relations by introducing new approaches, solutions and technologies, as well as help local issuers improve the reputation and quality of the securities they issue.

We are now developing an e-voting system that will enable investors to efficiently participate in companies’ governance wherever they are. This will significantly improve the corporate governance, which will in its turn directly impact their reputation.”

The strategy is also focused on a number of other initiatives aimed at development of Armenia’s capital market.

“Apart from international and regional business opportunities, we believe, it is the sustainable development and realization of the domestic market that will drive the strategic growth of our business” said Hayk Yeganyan, CEO at NASDAQ OMX Armenia.

“The new strategy has been launched in a favorable period because it’s noticeable that now Armenia’s business sector is more likely to show willingness to work transparently. This will make companies’ entry into the stock exchange easier creating opportunities for attracting relatively cheap and long-term money.”

Hayk Yeganyan believes these processes will positively affect citizens too because investing in financial instruments will allow them to earn more income than bank deposits offer, enabling them to have direct impact on the domestic economy.

NASDAQ OMX Armenia relies also on the investment banking service providers without whose professional intermediary activities it will be very difficult to develop the market.

“We strive to attract also non-resident investment companies to Armenia and I can say that so far we have witnessed much interest in entering the Armenian market from both EU and EEU investment companies.

I hope along with the upgrade of the trading technology we will see some foreign companies participating in Armenia’s capital market,” Yeghanyan added.

NASDAQ OMX Armenia, local exchange, provides its customers with a fully automated trading system, offering a single point of access to all types of Armenian securities, FX and credit resources. Since 2009 the Central Depository of Armenia has been operating within NASDAQ OMX Armenia Group providing a full range of depository services through a state of art software solution.

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 (CDA). After NASDAQ and OMX merged in March 2008, Armex and CDA have become fully owned by the NASDAQ OMX Group, Inc.

On November 7, 2005, the Central Bank of Armenia provided a license authorizing the stock exchange to hold forex auctions. --0---


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