Armenian Stock Exchange
Encyclopedia
NASDAQ OMX Armenia formerly "Armenian Stock Exchange" or "Armex", is the only stock exchange
currently operating in Armenia
. It is located in Yerevan
, the capital city
. 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 November 21, 2007, 100% of the stock exchange's shares were purchased by the Nordic exchange operator OMX Group
that also operates seven other stock exchanges in the Nordic/Baltic region.
In March 2008, after the merger
of U.S. NASDAQ and Nordic
OMX Group was completed, Armenian Stock Exchange, as well as the Central Depository of Armenia, became part of the world's largest exchange operator, the NASDAQ OMX Group
, Inc. On January 27, 2009, the Armenian Stock Exchange was officially renamed NASDAQ OMX Armenia.
The state regulatory authority for the stock exchange and the Armenian securities market is the Central Bank of Armenia
(CBA). Instruments currently traded on Armex include stocks, corporate bonds, government and CBA bonds, currency, and REPO (repurchase agreements) on corporate securities. Trading hours for all markets are 11:00-15:00 (local time, GMT+4).
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
currently operating in Armenia
Armenia
Armenia , officially the Republic of Armenia , is a landlocked mountainous country in the Caucasus region of Eurasia...
. It is located in Yerevan
Yerevan
Yerevan 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 industrial center of the country...
, the capital city
Capital City
Capital City was a television show produced by Euston Films which focused on the lives of investment bankers in London living and working on the corporate trading floor for the fictional international bank Shane-Longman....
. 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 November 21, 2007, 100% of the stock exchange's shares were purchased by the Nordic exchange operator OMX Group
OMX
OMX AB is a Swedish-Finnish financial services company, formed in 2003 through a merger between OM AB and HEX plc and is now a part of the NASDAQ OMX Group since February 2008.It has two divisions, OMX Exchanges, which operates eight stock exchanges mainly in the Nordic and Baltic...
that also operates seven other stock exchanges in the Nordic/Baltic region.
In March 2008, after the merger
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
of U.S. NASDAQ and Nordic
Nordic countries
The Nordic countries make up a region in Northern Europe and the North Atlantic which consists of Denmark, Finland, Iceland, Norway and Sweden and their associated territories, the Faroe Islands, Greenland and Åland...
OMX Group was completed, Armenian Stock Exchange, as well as the Central Depository of Armenia, became part of the world's largest exchange operator, the NASDAQ OMX Group
NASDAQ OMX Group
NASDAQ OMX Group, Inc. is a United States public company that owns and operates the NASDAQ stock market and eight European stock exchanges in Armenia plus the Nordic and Baltic regions under the OMX banner...
, Inc. On January 27, 2009, the Armenian Stock Exchange was officially renamed NASDAQ OMX Armenia.
The state regulatory authority for the stock exchange and the Armenian securities market is the Central Bank of Armenia
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 keeping the government's currency reserves...
(CBA). Instruments currently traded on Armex include stocks, corporate bonds, government and CBA bonds, currency, and REPO (repurchase agreements) on corporate securities. Trading hours for all markets are 11:00-15:00 (local time, GMT+4).