The Armenia Stock Exchange (AMX) (), formerly known as NASDAQ OMX Armenia and the Armenia Securities Exchange, is the only

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...

currently operating in

Armenia Armenia, officially the Republic of Armenia, is a landlocked country in the Armenian Highlands of West Asia. It is a part of the Caucasus region and is bordered by Turkey to the west, Georgia (country), Georgia to the north and Azerbaijan to ...

. It is located in

Yerevan Yerevan ( , , ; ; sometimes spelled Erevan) is the capital and largest city of Armenia, as well as one of the world's List of oldest continuously inhabited cities, oldest continuously inhabited cities. Situated along the Hrazdan River, Yerev ...

, the

capital city A capital city, or just capital, is the municipality holding primary status in a country, state (polity), state, province, department (administrative division), department, or other administrative division, subnational division, usually as its ...

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

Central Bank of Armenia The Central Bank of Armenia () is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issuing all banknotes and coins in the country, overseeing and regulating the banking sector and ...

(CBA). Instruments currently traded on AMX include stocks, corporate bonds,

government bonds A government bond or sovereign bond is a form of bond issued by a government to support public spending. It generally includes a commitment to pay periodic interest, called coupon payments'','' and to repay the face value on the maturity da ...

currency A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific envi ...

, SWAP and REPO (repurchase agreements) on corporate securities.

History

Since 1995, the Armenia 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 coopera ...

. 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 Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...

NASDAQ The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

and OMX Group was completed, Armenian Stock Exchange, as well as the Central Depository of Armenia, 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 (on which it is also listed), the Philadelphia Stock Exchange, and ...

. On 27 January 2009, the Armenian Stock Exchange was officially renamed NASDAQ OMX Armenia. NASDAQ sold the exchange to the Central Bank of Armenia in 2018, and on 18 January 2019, it was renamed Armenia Securities Exchange (AMX). In December 2019, the exchange became a partner member of the

Sustainable Stock Exchanges Initiative The Sustainable Stock Exchanges (SSE) initiative promoting corporate investment in sustainable development. It is a project of the United Nations (UN) co-organized by the United Nations Conference on Trade and Development (UNCTAD), the United Na ...

. In September 2020, it was announced that the

Warsaw Stock Exchange The Warsaw Stock Exchange (WSE) () is a stock exchange in Warsaw, Poland. Founded in 1817, it was located in the Saxon Palace until 1877 when it was moved to the Exchange Building at the Saxon Garden. Currently, it is located at ul. Książęca ...

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

The Armenia Stock Exchange is operated by a supervisory board, as well as a local management team. The management team consists of Hayk Yeganyan,

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

, Mikayel Hayrapetyan,

Chief Financial Officer A chief financial officer (CFO) is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances; i.a.: financial planning, management of financial risks, ...

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 The Government of the Republic of Armenia () or the executive branch of the Armenian government is an executive council of government ministers in Armenia. It is one of the three main governmental branches of Armenia and is headed by the Pr ...

made an agreement with the Central Depository of Armenia and AMX (Armenia Securities Exchange) to allow these organizations to be responsible for 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 A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a " defined benefit plan", wh ...

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 Economy of Yerevan Armenian companies established in 2001 Former Nasdaq exchanges

History

Management

The Funded Pension System

See also

References

External links