Armenian Stock Exchange

Last updated
Armenia Securities Exchange OJSC
Joint Stock Company
Industry Stock exchange
Founded2001, demutualized in 2007
Headquarters Yerevan, Armenia
Key people
Hayk Yeganyan, CEO
Productslisting, organized market to trade stocks, corporate and Government bonds, foreign currency
Website amx.am/   Blue pencil.svg

Armenia Securities Exchange or "AMX" (Armenian : Հայաստանի ֆոնդային բորսա), formerly "NASDAQ OMX Armenia", is the only stock exchange currently operating in Armenia. It is located in Yerevan, the capital city. The stock exchange began operations in 2001 as a self-regulatory organization founded by the exchange members. In November 2007, pursuant to relevant amendments in the legislation covering the local securities market, it was demutualized and became an open joint-stock company.

Armenian language Indo-European language

The Armenian language is an Indo-European language spoken primarily by Armenians. It is the official language of Armenia. Historically being spoken throughout the Armenian Highlands, today, Armenian is widely spoken throughout the Armenian diaspora. Armenian is written in its own writing system, the Armenian alphabet, introduced in 405 AD by Mesrop Mashtots.

Stock exchange organization that provides services for stock brokers and traders to trade securities

A stock exchange, securities exchange or bourse, is a facility where stock brokers and traders can buy and sell securities, such as shares of stock and bonds and other financial instruments. Stock exchanges may also provide for facilities the issue and redemption of such securities and instruments and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets with buyers and sellers consummating transactions at a central location such as the floor of the exchange. Many stock exchanges today use electronic trading, in place of the traditional floor trading.

Yerevan City in Armenia

Yerevan is the capital and largest city of Armenia as well as one of the world's oldest continuously inhabited cities. Situated along the Hrazdan River, Yerevan is the administrative, cultural, and industrial center of the country. It has been the capital since 1918, the fourteenth in the history of Armenia and the seventh located in or around the Ararat plain. The city also serves as the seat of the Araratian Pontifical Diocese; the largest diocese of the Armenian Apostolic Church and one of the oldest dioceses in the world.

Contents

The state regulatory authority for the stock exchange and the Armenian securities market is the Central Bank of Armenia (CBA). Instruments currently traded on AMX include stocks, corporate bonds, government bonds, currency, SWAP and REPO (repurchase agreements) on corporate securities. Trading hours for all markets are 11:00–15:00 (local time, UTC+4).

Central Bank of Armenia central bank


The Central Bank of Armenia is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issuing all banknotes and coins in the country, overseeing and regulating the banking sector and keeping the government's currency reserves. The CBA is also the sole owner of the Armenian Mint.

Since 1995, the Armenian Stock Exchange has been a member of the Federation of Euro-Asian Stock Exchanges. The headquarters of the Federation is located in Yerevan. [1]

Federation of Euro-Asian Stock Exchanges

The Federation of Euro-Asian Stock Exchanges (FEAS) is a non-profit international organization comprising the main stock exchanges in Eastern Europe, the Middle East and Central Asia. The purpose of the Federation is to contribute to the cooperation, development, support and promotion of capital markets in the Euro-Asian Region. It was established on May 16, 1995 with 12 founding members. Currently FEAS has 35 members, including stock exchanges, post trade institutions, dealers associations and regional federations from over 20 countries. The Federation's headquarters are located in Yerevan, Armenia.

Management

Armenia Securities Exchange is operated by a supervisory board, as well as a local management team. The supervisory board is headed by Emma V Shand, Non-Executive Director and Senior Advisor of Nasdaq. The management team consists of Hayk Yeganyan, CEO, Elena Melik-Karamova, Chief Accountant of AMX, Parandzem Avagyan, Head of Marketing & Communications, and Marine Tumanyan, Senior Legal Counsel.

The Funded Pension System

Starting on January 1, 2014, the Armenian Government initiated a new statewide pension program which forces all employees born after 1974 to set aside 5 percent of their total yearly salary into private pension funds. [2] According to the new legislation, The Government of Armenia made an agreement with Central Depository of Armenia and AMX(Armenia Securities Exchange) to allow these organizations to be in charge of the registry of the mandatory participants of this new pension system, meaning these organizations are responsible for collecting and properly allocating the assets that are set aside for these pension programs. [3]

Since the new pension system was introduced, AMX has seen a large influx of activity on the premise that more money will enter the market once the inflow of pension fund money has been realized. [4]

See also

Economy of Armenia national economy

The economy of Armenia grew by 7.5% in 2017 and reached a nominal GDP of $11.537 billion per annum, while per capita GDP grew by 10.1% and reached $3,880.

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Euronext Dublin stock exchange located in Dublin, Ireland

Euronext Dublin is Ireland's main stock exchange, and has been in existence since 1793.

The Iceland Stock Exchange, operating under the name Nasdaq Iceland and also known as ICEX, was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the central bank. Trading began in 1986 in Icelandic government bonds, and trading in equities began in 1991. Equities trading increased rapidly thereafter. A wide variety of firms are currently listed on the exchange, including firms in retail, fishing, transportation, banks, insurance and numerous other areas. Because of the small size of the Icelandic economy and the low cost of public listing, many of the companies traded on the ICEX are relatively small and are relatively illiquid.

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A central securities depository (CSD) is a specialist financial organization holding securities such as shares either in certificated or uncertificated (dematerialized) form so that ownership can be easily transferred through a book entry rather than the transfer of physical certificates. This allows brokers and financial companies to hold their securities at one location where they can be available for clearing and settlement. This is usually done electronically, making it much faster and easier than was traditionally the case where physical certificates had to be exchanged after a trade had been completed.

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Edward Martini Sandoyan, doctor of Economic Sciences of the Republic of Armenia and the Russian Federation, professor, served as Minister of Finance & Economy of the Republic of Armenia from 1998 to 1999.

References

  1. ↑ "
  2. ↑ http://arka.am/en/news/economy/armenia_s_president_gives_full_support_over_government_s_pension_reform/
  3. ↑ http://www.amx.am/en/cda_pension.htm
  4. ↑ http://www.balkans.com/open-news.php?uniquenumber=188836

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