YEREVAN, September 29. /ARKA/. The market capitalization of the Armenian Securities Exchange (AMX) at the end of 2022 reached 280 billion drams, increasing by 7% compared to the previous year, AMX CEO Hayk Yeganian said in an exclusive interview with ARKA news agency.
Asked whether AMX plans to establish cooperation with other international exchanges, he said the first in the row is the Warsaw Stock Exchange.
According to him, the goal is to have AMX securities admitted to trading on one of its platforms, which he added is a one and a half year project.
‘We hope that we will achieve it. We are also interested in the Georgian market. We have mutual interest here: we have something to share with them, and at the same time they have a lot of things that we are interested in. For example, the brokerage companies operating there. We do not have such a developed brokerage industry, and they do not have such a developed infrastructure as we do, in particular, they do not have a developed depository, AMXTrader platform,’ he said.
He also said an interesting partner is the Kazakhstan Stock Exchange and the AMX is considering the possibility of cooperation, including cross-listing.
‘Without disclosing brackets, I will say that some developing countries on different continents are interested in buying our AMXTrader program,’ Yeganyan said.
The Armenian Stock Exchange is the only regulating operator of the securities market in Armenia. AMX offers listing, trading, clearing and information services, as well as alternative exchange solutions.
The exchange settlements are performed by the Central Depository of Armenia, which is 100% owned by AMX.
On May 24, 2022, the Board of the Central Bank of Armenia approved the purchase of AMX by the Warsaw Stock Exchange (WFB). On June 28 of the same year, Armenian Central Bank Chairman Martin Galstyan and WFB Board Chairman Marek Dietl signed an agreement on sale of controlling stake in AMX.
WFB acquired 65.03% of AMX (967 shares), the Central Bank of Armenia holds 25.02% and the remaining 9.95% are AMX’s own shares. The cost of the deal was about AMD 873 million (about $2.2 million). -0-
