ArmInfo. FEAS Head office moving from Istanbul to Yerevan will primarily help to increase the rating of Armenia, Konstantin Saroyan, General Director of Nasdaq OMX stock exchange and FEAS General Secretary expressed such opinion during the press conference on May 18.
"In reality, this is a historical event for Armenia," he said, noting that there were no such entities in Armenia.
Particularly he informed, that the decision to move the head office to Yerevan was made after the stock exchange of Istanbul announced the withdrawal from FEAS, dispite being one of the founders of the Federation. "When the question was raised about where to move the head office, we came up with a relevant proposal, which was approved by Federation Council majority of votes ," he added.
What about further steps, Saroyan explained that FEAS will continue to act in accordance to its strategy, but from now on, emphasizing the practical point of view on the development of business exchanges , which will include the exchange of information, the synchronization of certain laws, etc. "We would like to help increase the visibility of exchanges and markets. After all, FEAS includes small countries that are interested in being represented on the financial map, in particular for investors. This will help the development of our country as well. After all, making visible the paper market, for example state bonds, will be a serious achievement for Armenia, "remarked the newly appointed FEAS General Secretary Saroyan.
At the same time, he expressed hope that thanks to above mentioned changes in European Asian federation it would be possible to involve CIS countries exchanges in view of Armenia's membership to EEU.
To recall, Armenia, represented by "Yerevan Stock Exchange" (later "Armenian Stock Exchange" and after "NASDAQ OMX Armenia") was among 12 founding members of the FEAS. Since November 2016 NASDAQ OMX Armenia has also been acting as FEAS Executive Board Member. The Federation of Euro-Asian Stock Exchanges (FEAS) was established on May 15, 1995 with 12 founding members. The founders were: Amman Stock Exchange, Bratislava Stock Exchange, Central-Asian Stock Exchange (Kazakhstan), First Bulgaria Stock Exchange, Istanbul Stock Exchange, Karachi Stock Exchange, Ljubljana Stock Exchange, State Commodity Raw Materials Exchange (Turkmenistan), Tehran Stock Exchange, Tel Aviv Stock Exchange, Yerevan Stock Exchange and Zagreb Stock Exchange.