YEREVAN, February 17. /ARKA/. A total of 5.37 billion drams worth transactions with government securities were effected in 2011 at NASDAQ OMX Armenia stock exchange, a slight decrease from the previous year, Konstantin Saroyan, director of the stock exchange, said on Friday.
The amount of stock transactions doubled in 2010, compared with 2009.
Saroyan said transactions on short-term government bonds accounted for 39.2, long-term transactions for 31.9%, and mid-term transactions for 28.9% of the deals.
The contraction of amount, he said, was due to certain factors.
First, commercial banks, being guided by the central bank’s decisions, keep trading government bonds by using off-market methods.
He said that the regulator provides the same services for free, while the stock exchange takes certain commission.
“Conclusion of transactions at the stock exchange is more advantageous, since a just market price is formed here and deals are effected on condition of anonymity,” Saroyan said. “Therefore, there are no bargain deals here. I think business entities, especially banks, should view this as priority.”
NASDAQ OMX Armenia (former Armenian Stock Exchange, Armex), was established in 2001 as a voluntary merger of 21 broker (dealer) companies.
In January 2008, Nordic exchange operator OMX Group acquired 100% of shares of the Armenian Stock Exchange (Armex) and the Central Depository of Armenia (CDA).
Twelve stakes of 11 issuers and five corporate bonds of four issuers were listed here as of February 16, 2012. ($1 – AMD 389.13). –0-
