Tuesday, December 14 2010 18:34

NASDAQ OMX Armenia Announces "Best Member Award" for the First Time in Armenia


ArmInfo. For the first time in Armenia NASDAQ OMX Armenia announces "Best Member Award", NASDAQ OMX Armenia press-service told ArmInfo.

Objective of Best Member Award is to encourage those investment services provider companies and exchange members actively involved in trading on various Exchange markets, participating in activities dedicated to developing and improving Armenian capital markets, as well as keeping the code of professional ethics. Award is granted once a year among the Exchange member companies based on the results of each year as of December 31.

The Award will be granted for the following nominations according to the results of 2010: Best Exchange Member in Corporate Securities Market; Best Exchange Member in Government Bonds Market; Best Exchange Member in Foreign Currency Market; Best Exchange Member in Credit Resources Market.

NASDAQ OMX Armenia's members evaluation according to the criteria of the abovementioned nominations will be completed by the end of January, 2011, while the Best Members in each nominations will be announced during award ceremony early in March, 2010.

Evaluation criteria

Choosing the best member in each award is a process of deriving an integral evaluation of the members' activity according to the criteria defined for each nomination.

The abovementioned four nominations shall have the following evaluation criteria: Best Exchange Member in Corporate Securities Market Value traded in corporate securities (the leader gets 45 points, while the rest - according to their indicators) Number of trades in corporate securities (the leader gets 15 points, while the rest - according to their indicators) Value traded in stocks (the leader gets 15 points, while the rest - according to their indicators) Value traded in corporate securities repo agreements (the leader gets 10 points, while the rest - according to their indicators) Ratio of value traded via continuous two-way auction and manual mechanism (the leader gets 5 points, while the rest - according to their indicators) Obviously, the indicators are intended to encourage trading through continuous two-way auction, thus the trade participant, which concluded trades only through continuous two-way auction, will get the maximum score. Market-maker status (those trade participants, which are market-makers of maximum number of securities classes get 5 points, while the rest - in accordance with the number of securities classes). Absence of the Exchange rules violations (all the members, not having any violations, get 2 points, while the rest - zero) 1.8. Member's activity and involvement in market development initiatives and events, organized by the Exchange (the leader gets 3 points, while the rest - zero).

Best Exchange Member in Government Bonds Market Value traded in government bonds market (the leader gets 50 points, while the rest - according to their indicators) 1.10. Number of days of concluding transactions in government bonds market (the leader gets 30 points, while the rest - according to their indicators) Number of government bonds tranches (issues) traded (the leader gets 20 points, while the rest - according to their indicators).

Best Exchange Member in Credit Resources Market Value traded in credit resources (the leader gets 70 points, while the rest - according to their indicators) Number of days, when trades in credit resources were concluded (the leader gets 30 points, while the rest - according to their indicators).

On January 27, 2009, "Armenian Stock Exchange" ojsc was officially renamed as "NASDAQ OMX Armenia" ojsc. On June 5, 2009, "NASDAQ OMX Armenia" ojsc became the owner of 100% of the shares of the "Central Depository of Armenia" ojsc. 19 commercial banks ands 6 investment companies are NASDAQ OMX Armenia members.
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