YEREVAN, November 29. /ARKA/. The Central Depository of Armenia has assumed chairmanship at Association of Eurasian Central Securities Depositories (AECSD), the press office of the depository reports.

According to the press office, the Association of Eurasian Central Securities Depositories (AECSD) and the Advisory Committee on Financial Markets under the Board of the Eurasian Economic Commission (EEC) have signed a memorandum of cooperation.

The signing ceremony was attended by Timur Zhaksylykov, Minister for Economics and Financial Policy of EEC, and Vahan Stepanyan, CEO of the Central Depository of Armenia, AECSD Chairman.

“Signing the memorandum of cooperation is a starting point for the development of further relationships between EEC and AECSD. Partnership on common projects will bring more investment on integration processes of the Eurasian economic region,” Vahan Stepanyan is quoted in the press release.

“The development and prospering of the economic markets can only become possible with well-coordinated cooperative work. This partnership of the two companies will enhance the development of securities market infrastructure in the Eurasian region and creation of actual financial services,” Timur Zhaksylykov id quoted in the press release as well.

The signatories noted that joining forces and expanding cooperation is extremely important for the development of integration processes in the Eurasian region, for creating a unified infrastructure of the securities market and introducing new financial technologies. The depositories of the Eurasian Economic Union (EEU) member countries play the key role in these processes.

Later in September 2020 Armenia will host the AECSD annual conference.

The Central Depository of Armenia is fully owned by Armenia Securities Exchange or "AMX", formerly NASDAQ OMX Armenia. -0---