YEREVAN, January 12. /ARKA/. The Eurasian Development Bank (EDB) will provide a grant from its Technical Assistance Fund to the Armenian Securities Exchange for modernization of trading technologies, EDB said in a press release today.
According to the press release, the EDB will finance the bulk of the costs for the introduction of a new exchange trading system and the re-equipment the Armenian Securities Exchange. The new trading system, in addition to providing modern technological solutions for organizing exchange trading in accordance with international standards, will allow any investor to perform exchange transactions in real time, gaining direct access to the exchange’s trading platforms through brokerage companies.
The CEO of the Armenian Securities Exchange Hayk Yeganyan said technological modernization is a priority of the Armenian Securities Exchange.
“We highly appreciate the support of the EDB in the development of the capital market in Armenia. The introduction of the new trading system will contribute to an increase in the number of exchange participants, quoted securities and trading volume, as well as expand the horizons of exchange services provided, which will generally increase the interest of companies in listing and issuing securities,” Yeganyan said.
Armen Melkikyan, EDB Director for the Republic of Armenia, stressing the integration significance of the program, noted that the technological modernization of the Armenian Securities Exchange will allow successfully integrating its infrastructure with the financial markets of the countries of the Eurasian Economic Union, contributing to the growth of investments in the capital market and an increase in trade.
Armenia Securities Exchange is Armenia’s only securities exchange, and it also runs the Central Depository of Armenia, helping investors raise capital for 18 years.
It aims to promote an attractive business environment to engage local and international partners by developing and introducing business-friendly products and services across trading, clearing, settlement and pension administration.The Eurasian Development Bank is an international financial institution established to promote economic growth in its member states, extend trade and economic ties among them, and support integration in Eurasia through investment. The Bank was founded by the governments of the Russian Federation and the Republic of Kazakhstan on 12 January 2006. The Republic of Armenia and the Republic of Tajikistan became full members of the Bank in 2009, the Republic of Belarus in 2010, and the Kyrgyz Republic in 2011. -0-
