Armenia Securities Exchange or "AMX" ( hy, Հայաստանի ֆոնդային բորսա), formerly NASDAQ OMX Armenia, is the only stock exchange currently operating in

Armenia Armenia (), , group=pron officially the Republic of Armenia,, is a landlocked country in the Armenian Highlands of Western Asia.The UNbr>classification of world regions places Armenia in Western Asia; the CIA World Factbook , , and ' ...

. It is located in

Yerevan Yerevan ( , , hy, Երևան , sometimes spelled Erevan) is the capital and largest city of Armenia and one of the world's oldest continuously inhabited cities. Situated along the Hrazdan River, Yerevan is the administrative, cultural, and i ...

, the

capital city A capital city or capital is the municipality holding primary status in a country, state, province, department, or other subnational entity, usually as its seat of the government. A capital is typically a city that physically encompasses t ...

. The state regulatory authority for the stock exchange and the Armenian securities market is the

Central Bank of Armenia The Central Bank of Armenia ( hy, Հայաստանի Կենտրոնական Բանկ, translit=Hayastani Kentronakan Bank) is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issu ...

(CBA). Instruments currently traded on AMX include stocks, corporate bonds, government bonds, currency, SWAP and REPO (repurchase agreements) on corporate securities.

History

Since 1995, the Armenian Stock Exchange has been a member of the

Federation of Euro-Asian Stock Exchanges The Federation of Euro-Asian Stock Exchanges (FEAS) is a non-profit international organization comprising the main stock exchanges in Eastern Europe, the Middle East, and Central Asia. The purpose of the Federation is to contribute to the cooperat ...

. The headquarters of the Federation is located in

. The stock exchange began operations in 2001 as a self-regulatory organization founded by the exchange members. In November 2007, pursuant to relevant amendments in the legislation covering the local securities market, it was demutualized and became an open joint-stock company. On 21 November 2007, 100% of the stock exchange's shares were purchased by the Nordic exchange operator OMX. In March 2008, after the merger of NASDAQ and OMX Group was completed, Armenian Stock Exchange, as well as the

Central Depository of Armenia The Central Depository of Armenia (CDA) ( hy, Հայաստանի կենտրոնական դեպոզիտարիա, translit=Hayastani kentronakan depozitaria) is the Central securities depository, Central Depository of Armenia, established in 1996. Th ...

, became part of the

NASDAQ OMX Group Nasdaq, Inc. is an American multinational financial services corporation that owns and operates three stock exchanges in the United States: the namesake Nasdaq stock exchange, the Philadelphia Stock Exchange, and the Boston Stock Exchange, a ...

. On 27 January 2009, the Armenian Stock Exchange was officially renamed NASDAQ OMX Armenia. Later the Central Bank of Armenia took over the exchange, and on 18 January 2019, it was renamed Armenia Securities Exchange (AMX). In September 2020, it was announced that the

Warsaw Stock Exchange The Warsaw Stock Exchange (WSE), pl, Giełda Papierów Wartościowych w Warszawie, is a stock exchange in Warsaw, Poland. It has a market capitalization of PLN 1.05 trillion (EUR 232 billion; as of December 23, 2020). The WSE is a member of the ...

is interested to acquire 65% of AMX shares. On 24 May 2022, the Central Bank of Armenia approved the acquiring of 65.03% of shares of the Armenian Stock Exchange by the Warsaw Stock Exchange.

Management

Armenia Securities Exchange is operated by a supervisory board, as well as a local management team. The management team consists of Hayk Yeganyan, CEO, Mikayel Hayrapetyan, Chief Financial Officer.

The Funded Pension System

Starting on 1 January 2014, the Armenian Government initiated a new statewide pension program which forces all employees born after 1974 to set aside 5 percent of their total yearly salary into private pension funds. According to the new legislation, the

Government of Armenia A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is ...

made an agreement with the

and AMX (Armenia Securities Exchange) to allow these organizations to be in charge of the registry of the mandatory participants of this new pension system, meaning these organizations are responsible for collecting and properly allocating the assets that are set aside for these pension programs. Since the new pension system was introduced, AMX has seen a large influx of activity on the premise that more money will enter the market once the inflow of pension fund money has been realized.

References

External links

Armenia Securities Exchange official site, in Armenian and English
{{Yerevan landmarks Financial services companies established in 2001 Economy of Armenia Stock exchanges in Europe Stock exchanges in Asia Yerevan Armenian companies established in 2001 Former Nasdaq exchanges

History

Management

The Funded Pension System

See also

References

External links