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May 21, 2013 Tuesday
Armenia : NEW model of DEPOSITORY OPERATIONS in ARMENIA
The Central Depository of Armenia (CDA), which is part of NASDAQ OMX
Group, has launched a new business model of depository operations in
Armenia. It will align with the best international standards by
assuring higher level of safety and efficiency of operations. This
reform was launched at a special ceremony. It is first of all aimed to
perk up services offers for companies and shareholders and by rising
efficiency of execution and protection of their rights.
Within the new model, CDA can assure centralized registry keeping,
securities custody and by clearing and settlement of stock exchange
transactions through introduction of focused software solution and
better hardware and security facilities. Registry keeping and
securities custody services will be given to customers through account
operators - investment companies and banks signed the relevant
agreement with the CDA. Such mediation of services will contribute to
better access of issuers and investors to the depository services in
all the regions of Armenia, more efficient risk management and
supervision, higher customer service and improved competition among
account operators to provide complete packages of corporate and
investment banking services to their customers.
Mr. Vahan Stepanyan, CEO, CDA, said, Modernization of Armenian
depository system required joint effort of our staff, our colleagues
from NASDAQ OMX, support of Central Banks of Armenia and now we are
proud to announce that we managed to bring it in compliance with best
international standards, increasing safety and efficiency of
operations and accessibility of depository services in regions of
Armenia.
Ltd.
May 21, 2013 Tuesday
Armenia : NEW model of DEPOSITORY OPERATIONS in ARMENIA
The Central Depository of Armenia (CDA), which is part of NASDAQ OMX
Group, has launched a new business model of depository operations in
Armenia. It will align with the best international standards by
assuring higher level of safety and efficiency of operations. This
reform was launched at a special ceremony. It is first of all aimed to
perk up services offers for companies and shareholders and by rising
efficiency of execution and protection of their rights.
Within the new model, CDA can assure centralized registry keeping,
securities custody and by clearing and settlement of stock exchange
transactions through introduction of focused software solution and
better hardware and security facilities. Registry keeping and
securities custody services will be given to customers through account
operators - investment companies and banks signed the relevant
agreement with the CDA. Such mediation of services will contribute to
better access of issuers and investors to the depository services in
all the regions of Armenia, more efficient risk management and
supervision, higher customer service and improved competition among
account operators to provide complete packages of corporate and
investment banking services to their customers.
Mr. Vahan Stepanyan, CEO, CDA, said, Modernization of Armenian
depository system required joint effort of our staff, our colleagues
from NASDAQ OMX, support of Central Banks of Armenia and now we are
proud to announce that we managed to bring it in compliance with best
international standards, increasing safety and efficiency of
operations and accessibility of depository services in regions of
Armenia.
Ltd.