Armenia Securities Exchange
|Joint Stock Company|
|Founded||2001, demutualized in 2007|
|Hayk Yeganyan, CEO|
|Products||listing, organized market to trade stocks, corporate and Government bonds, foreign currency|
Armenia Securities Exchange or "AMX" (Armenian: Հայաստանի ֆոնդային բորսա), formerly "NASDAQ OMX Armenia", 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.
The state regulatory authority for the stock exchange and the Armenian securities market is the Central Bank of Armenia (CBA). Instruments currently traded on AMX include stocks, corporate bonds, government bonds, currency, SWAP and REPO (repurchase agreements) on corporate securities. Trading hours for all markets are 11:00–15:00 (local Armenia Time, UTC+4).
Armenia Securities Exchange is operated by a supervisory board, as well as a local management team. The supervisory board is headed by Emma V Shand, Non-Executive Director and Senior Advisor of Nasdaq, Inc. The management team consists of Hayk Yeganyan, CEO, Elena Melik-Karamova, Chief Accountant of AMX, Parandzem Avagyan, Head of Marketing & Communications, and Marine Tumanyan, Senior Legal Counsel.
The Funded Pension System
Starting on January 1, 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 made an agreement with Central Depository of Armenia 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.
- Central Bank of Armenia
- Economy of Armenia
- Federation of Euro-Asian Stock Exchanges
- List of banks in Armenia
- List of European stock exchanges
- List of stock exchanges
- List of stock exchange trading hours