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NASDAQ OMX ARMENIA INTRODUCES EXCHANGE MARKET FOR REPO TRADING AND MECHANISM FOR MANUAL TRADES
ARKA
Dec 16, 2008
YEREVAN, December 16. /ARKA/. NASDAQ OMX Armenia launched two new
markets based on the Armenian Stock Exchange (Armex) trading platform
- for repurchase agreements (REPO) on corporate securities, and for
manual trades, the company's press service reported Monday.
NASDAQ OMX Armenia introduced the new markets as part of its efforts to
enhance exchange trading opportunities in the country, says the report.
According to the report, the launch of these two mechanisms covers
another two important segments of the securities market and has become
possible through close collaboration with all market participants.
"REPO trading that has previously been done directly among banks and
investment companies is one of the stock exchange's long awaited new
products. Through REPO and reverse REPO trades market participants
are able to get funds against collateralized securities, and vice
versa. The exchange platform now in place for REPO agreements
simplifies the trade execution process, makes it fully automated,
more secure, and helps substantially reduce the time required to
complete a trade," says the press release.
By launching an exchange mechanism for manual trades, NASDAQ OMX
Armenia brings into regulation the over-the-counter (OTC) market for
corporate securities. Such manual trades that were more likely to
be execut ed off-exchange can from now on be done through the manual
trades mechanism, according to the rules of the stock exchange. Again,
the new mechanism implies significantly more flexibility and efficiency
for the parties involved.
All Armex member investment companies and banks automatically get
access to the newly introduced REPO and manual trade markets. Trading
in both these markets will open at 11:00am and close at 3:00pm each
business day.
As of December 2008, instruments traded via Armex trading platform
include stocks, corporate and government bonds, currency, and REPOs.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It
delivers trading, exchange technology services across the world. With
over 3,900 companies, it is number one in worldwide listings among
major markets.
NASDAQ OMX technology supports the operations of over 60 exchanges,
clearing organizations and central securities depositories in more
than 50 countries.
In January 2008, Nordic exchange operator OMX Group acquired 100%
of shares of the Armenian Stock Exchange (Armex) and the Central
Depository of Armenia (CDA). After the combination of NASDAQ and OMX
in March 2008, Armex and CDA have become fully owned by the NASDAQ
OMX Group, Inc.
ARKA
Dec 16, 2008
YEREVAN, December 16. /ARKA/. NASDAQ OMX Armenia launched two new
markets based on the Armenian Stock Exchange (Armex) trading platform
- for repurchase agreements (REPO) on corporate securities, and for
manual trades, the company's press service reported Monday.
NASDAQ OMX Armenia introduced the new markets as part of its efforts to
enhance exchange trading opportunities in the country, says the report.
According to the report, the launch of these two mechanisms covers
another two important segments of the securities market and has become
possible through close collaboration with all market participants.
"REPO trading that has previously been done directly among banks and
investment companies is one of the stock exchange's long awaited new
products. Through REPO and reverse REPO trades market participants
are able to get funds against collateralized securities, and vice
versa. The exchange platform now in place for REPO agreements
simplifies the trade execution process, makes it fully automated,
more secure, and helps substantially reduce the time required to
complete a trade," says the press release.
By launching an exchange mechanism for manual trades, NASDAQ OMX
Armenia brings into regulation the over-the-counter (OTC) market for
corporate securities. Such manual trades that were more likely to
be execut ed off-exchange can from now on be done through the manual
trades mechanism, according to the rules of the stock exchange. Again,
the new mechanism implies significantly more flexibility and efficiency
for the parties involved.
All Armex member investment companies and banks automatically get
access to the newly introduced REPO and manual trade markets. Trading
in both these markets will open at 11:00am and close at 3:00pm each
business day.
As of December 2008, instruments traded via Armex trading platform
include stocks, corporate and government bonds, currency, and REPOs.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It
delivers trading, exchange technology services across the world. With
over 3,900 companies, it is number one in worldwide listings among
major markets.
NASDAQ OMX technology supports the operations of over 60 exchanges,
clearing organizations and central securities depositories in more
than 50 countries.
In January 2008, Nordic exchange operator OMX Group acquired 100%
of shares of the Armenian Stock Exchange (Armex) and the Central
Depository of Armenia (CDA). After the combination of NASDAQ and OMX
in March 2008, Armex and CDA have become fully owned by the NASDAQ
OMX Group, Inc.