Sat, 6 September
26.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

New business model launched at Armenia’s central depository

YEREVAN, May 20. /ARKA/. The Central Depository of Armenia (CDA) has introduced a new international business model of depository operations.

The reform aims primarily at improving services to issuers and securities holders, as well as to increase efficiency of execution and protection of their rights.

The reform has brought the depository operations in Armenia into line with the best international standards, CDa’s director Vahan Stepanyan said at the official launch ceremony Saturday.
The development of the model started in 2009 when the respective international experience and Armenia’s needs were studied. The model most suitable for Armenia was selected in 2011, Stepanyan said.

Within the new model, CDA will ensure centralized registry keeping, securities custody as well as clearing and settlement of stock exchange transactions through specialized software and enhanced hardware and security facilities. Registry keeping and securities custody services will be provided to customers via account operators – investment companies and banks, which signed the relevant agreement with the CDA.

Such mediation of services will contribute to increased access of issuers and investors to the depository services across Armenia, more efficient risk management and supervision, higher customer service and increased competition among account operators in offering comprehensive packages of corporate and investment banking services to customers.

Stepanyan said the depository system reform required joint effort of CDA’s staff, their colleagues from NASDAQ OMX and the Central Bank of Armenia.

Similar system of depository operations exists in Estonia, some African and Caribbean countries.
NASDAQ OMX Armenia (former Armenian Stock Exchange, Armex), was established in 2001 as a voluntary merger of 21 broker (dealer) companies. In November 2007 the stock exchange was reorganized into OJSC. OMX (current NASDAQ OMX) is a holder of 100% stock of NASDAQ OMX Armenia.

The stock exchange obtained 100% stock of Armenia’s Central Depository. NASDAQ OMX Armenia received a trade license from CBA on November 7, 2005. The trades on the stock exchange were officially launched on 15 November 2005. ($1=411.33drams).   –0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img