YEREVAN, November 7. / ARKA /. NASDAQ OMX Armenia stock exchange plans to offer a new tool to its participants next year – a long-term credit resources demanded by banks and investment companies, NASDAQ OMX Armenia chief executive director Konstantin Saroyan said.
He said the stock exchange will introduce also a new trading system that will enable NASDAQ OMX Armenia’s participants to penetrate into other markets. This will provide also foreign investors with access to Armenian securities market, according to him.
Saroyan said the government has introduced some incentive mechanisms to revive the market. So, the companies whose shares are listed on A and B markets , have the opportunity to take advantage of tax benefits by lowering the income tax payable up to 50%, and get back the VAT paid for legal, consulting and other services due to the emission.
NASDAQ OMX Armenia is the new name of the Armenian Stock Exchange ojsc (renamed on January 27, 2009), however, it is also used to refer jointly to the stock exchange and the Central Depository of Armenia ojsc (CDA), as the both companies have been members of the NASDAQ OMX Group, Inc. since early 2008.
NASDAQ OMX Armenia and the CDA are the major securities market infrastructure institutions in Armenia. Since their inception in 2000, both companies had operated as self-regulatory organizations established by member broker companies, up until demutualization in 2007. NASDAQ OMX Armenia is a part of the world’s largest exchange company, the NASDAQ OMX Group, Inc.
