Friday, February 17 2012 17:29

NASDAQ OMX Armenia considers raising its tariffs for overcoming losses


ArmInfo. NASDAQ OMX Armenia continues working at a loss. In 2011 the company registered 38mln AMD loss, while the loss of the Central Depository totaled 1mln AMD, CEO of NASDAQ OMX Armenia Konstantin Saroyan said during a press-conference on Friday.

He said that stock and corporate bond trading is passive, unlike that of inter-bank loans and foreign exchange. The trade turnover of the latter two floors exceeds the aggregate turnover of several national stock exchanges, but unlike the Armenian one, they are profitable.

"Our problem is not that we spend much but that we earn little. Our tariffs are low. The banks prefer the free floor of the Central Bank. But such services must not be free of charge. A stock exchange is a guarantee of safe and efficient trading, so, its services must be paid," Saroyan said.

He said that before the opening of the NASDAQ floor, such trading was carried out on the Central Bank's platform. But this type of activity is technologically untypical of a Central Bank. So, Saroyan hopes that the CB will give part of its functions to the stock exchange or will fix tariffs for its services. "This will enhance competition and will allow us to overcome losses, while the market players will enjoy technologically improved services, fair pricing and transparency – something they don't have today," Saroyan said.
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