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ARMENIA'S CENTRAL BANK IS HINDERING COUNTRY'S STOCK EXCHANGE?
NEWS.AM
February 17, 2012 | 13:44
YEREVAN. - The NASDAQ OMX Armenia stock exchange is working with
a loss, its General Manager Konstantin Saroyan said during a press
conference on Friday.
According to Saroyan, the stock exchange was working with a loss even
prior to the financial crisis. And the reason, in his view, is that
the exchange has very little profits. And there are two causes for
the low profits: First, the rates at the stock exchange are not high;
and second, Armenia's Central Bank (CB) offers other platforms for
market trading, and without any fees; and that is why the banks very
often prefer CB's systems.
"Under other equal terms the banks will prefer the free service. In our
view, no service must be free [of charge], since the stock exchange
secures a safe and effective mechanism for signing business deals,"
Konstantin Saroyan maintained.
From: A. Papazian
NEWS.AM
February 17, 2012 | 13:44
YEREVAN. - The NASDAQ OMX Armenia stock exchange is working with
a loss, its General Manager Konstantin Saroyan said during a press
conference on Friday.
According to Saroyan, the stock exchange was working with a loss even
prior to the financial crisis. And the reason, in his view, is that
the exchange has very little profits. And there are two causes for
the low profits: First, the rates at the stock exchange are not high;
and second, Armenia's Central Bank (CB) offers other platforms for
market trading, and without any fees; and that is why the banks very
often prefer CB's systems.
"Under other equal terms the banks will prefer the free service. In our
view, no service must be free [of charge], since the stock exchange
secures a safe and effective mechanism for signing business deals,"
Konstantin Saroyan maintained.
From: A. Papazian