Categories: Finance

AMX: Modernizing Exchange technologies with EDB’s financial support

Today AMX-Armenia Securities Exchange has hosted Nikolai Podguzov, CEO at Eurasian Development Bank, Vice Chairmen and management representatives of EDB. During the visit EDB was presented already operating government bond auction system modernized by EDB Technical Assistance Fund and the secondary market trade system being in the last stage of testing and installation. Pursuant to the contract signed last year EDB granted financial support to AMX to finance most of the costs associated with upgrading the new trading system and technical equipment.

The trading system, in addition to providing secondary market trading, will allow investors to gain direct access to the exchange’s trading platforms through brokers, to trade online in real-time via web-mobile applications.

“According to the preliminary plan, the system should be launched by the end of this year, which will be considered an unprecedented result, taking into account the speed and quality of the introduction of the trading system. Thanks to our partner Eurasian Development Bank, we make the trading system accessible to end investors, facilitate participation in securities trading, trying to influence the development of the capital market, creating an opportunity to increase the number of direct market participants. This comes to prove the fact that for two consecutive years we have been receiving the “Best Securities Exchange in the South Caucasus” award from the Global Banking & Finance Review. Certainly, the EDB technical assistance policy will continue to contribute to the development of the Armenian securities market. I hope that our cooperation will not be limited to this program and in the near future, other development programs will be implemented with the support of the EDB”, said Hayk Yeganyan, CEO at AMX.

During the visit to the AMX office, the EDB delegation was introduced to the new system, the advantages of the latter over the previous systems and the work done in 8 months.

“Technological modernization of Armenia Securities Exchange will make it possible to successfully incorporate its infrastructure and use its functional advantages in the financial markets of the member countries of the Eurasian Economic Union, thus contributing to the growth of investments in the capital market and an increase in trade volumes,” said Nikolai Podguzov, Chairman of the EDB Board.

The EDB Technical Assistance Fund was established to provide effective support to the Bank’s core mission. The funds of EDB are generated from the calendar year net profit and from donors.

To recall, the trading system of the primary market of government bonds has already been successfully launched and has been highly evaluated by the market participants and the issuers, due to various innovative solutions and opportunities, missing in the previous trading system.

The Eurasian Development Bank (EDB) is an international financial institution carrying out investment activities in the Eurasian region. For 15 years, the EDB has been promoting the strengthening and expansion of economic ties, and the comprehensive development of the participating countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The authorized capital of the EDB is US $ 7 billion. The main share in the EDB’s portfolio is occupied by projects with an integration effect in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering. In its activities, the Bank is guided by the UN Sustainable Development Goals and ESG principles.

Armenia Securities Exchange (AMX) is the only securities regulated market operator in Armenia that also owns 100% shares of Central Depository of Armenia. The mission of AMX group is to foster the development of investment environment in listing, trading, clearing and settlement, and funded pension management.

Share

Hard Rock Cafe is Coming to Armenia

Armenian National Interests fund (ANIF) is pleased to announce the launch of the world-famous Hard Rock Cafe brand in Yerevan,…

3 hours ago

Informed means protected: IDBank

Did you know that in order to ensure your information and financial security, special subdivisions are operating in the Banks…

9 hours ago

OPEC Fund Partners Ameriabank to Address Problems and Help to Improve the Life of People in Armenia. T. Alnassar

Tareq Alnassar, OPEC Fund Assistant Director-General, Private Sector and Trade Finance Operations, talks about OPEC Fund’s partnership with Ameriabank, projects…

4 days ago

Armenian corporate bond indices are already available on the official website of AMX-Armenia Securities Exchange

Based on the best international experience, Armenia Securities Exchange has developed and for the first time in the region introduced…

5 days ago

Generation A: Edition 14. Exclusive Chance to Begin Your Professional Career with Ameriabank

December 01, 2021 For the second time this year, Ameriabank opens its much-anticipated youth program Generation A. Generation A 14…

5 days ago

Unity – “Happy New Tariff!” Ucom Launches Its Best Offer Ever

Ucom has introduced a new – Unity tariff, which combines both fixed and mobile services for the entire family. By…

5 days ago

With the Technical Support of Ucom “Capture the Flag” Information Security Contest Took Place

Оn November 27-28, 2021 with the technical support of Ucom “Capture the Flag” Information Security Contest, organized by the Enterprise…

1 week ago

One Success Story: Trimming the Spirits

Hermine Harutyunyan founded HERMINA beauty parlor 5-6 year ago together with her sister.  The sisters have rich practice.  They have…

1 week ago

US$30m OPEC Fund loan to Ameriabank to promote sustainable energy and support small businesses in Armenia

The OPEC Fund for International Development (the OPEC Fund) and Ameriabank, the largest universal bank in Armenia, have signed a…

1 week ago