INTRODUCTION OF INTERNATIONAL STANDARDS ON ARMENIAN STOCK MARKET TO FACILITATE MAINTAINING CONTROL OVER MARKET PRICES
ARKA News Agency, Armenia
June 15 2007
YEREVAN, June 15. /ARKA/. Introduction of international standards on
the stock market of Armenia will allow issuers maintaining permanent
control over dynamics of their shares’ market prices, Chairman of
the Central Bank of Armenia (CBA) Tigran Sargsian said at the annual
meeting of Armeconombank.
"We face the problem of establishing a medium required for it," he
said. Sargsian pointed out that CBA pins great hopes on the cooperation
with OMX stock operator to essentially improve the situation on the
Armenian stock market.
"The purchase of the Armenian Stock Exchange and the Central Depository
by OMX gives opportunity to arrange the trade of securities in Armenia
in line with the best international standards," Sargsian said.
On April 27 2007 OMX Scandinavian stock operator, Armenian Government
and the Central Bank of Armenia signed Memorandum of Intention on
purchase of Armenian Stock Exchange and Central Depository by OMX.
The deal is to be implemented in October 2007.
OMX Scandinavian stock operator combines the stock exchanges of
Northern European capitals and carries out the management of exchanges
of Baltic countries – Lithuania and Latvia.
Armenian Stock Exchange (Armex) is a self-regulating organization
registered in Armenia on February 13 2001. It was founded on the
basis of 21 broker (dealer) companies united into one. Transactions
on corporate shares have been implemented on the stock exchange since
July 6 2001.
From: Emil Lazarian | Ararat NewsPress
