Thursday, November 8 2012 19:44

NASDAQ OMX Armenia launches credit contracts market


ArmInfo. Today NASDAQ OMX Armenia announced launch of new credit contracts market.

The press service of NASDAQ OMX Armenia reports that from now on credit contracts with maturity of 7 days will be traded in the market. Later in 2013 credit contracts with longer and shorter maturities will be introduced to provide market participants with wide range of money market instruments, currently inlcuding also overnight credit resources traded since April 2010.

"This is another step towards expanding our offering to the market with the aim to pioneer development of new financial instruments. Now we support trading and clearing in equities, corporate and government bonds, foreign exchange, repo contracts, overnight credit resources and credit contracts", Konstantin Saroyan, CEO of NASDAQ OMX Armenia said.

The new instrument is expected to create one of the largest markets operated by NASDAQ OMX Armenia.Along with overnight credit resources, it provides opportunities for more efficient and flexible asset management, as well as contributes to fair and transparent pricing of credit instruments in the market.

"Credit contracts market has a unique setup that combines anonymous automatch trading and centralized collateral management. Thanks to our development team now we are ready to offer this brand new product to the market", Karen Zakaryan, Deputy CEO and project manager for credit markets said.

Armenian banks will be the participants in the credit contracts market, which will open 11:00am and close 1:00pm every business day. After close of the trading, a ten-minute post-trade session will be held, enabling participants to lend and borrow at average weighted interest rates established during the trading session.

Credit contracts trading data will be available at the "Market Data" section of NASDAQ OMX Armenia official website (www.nasdaqomx.am).

The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 23 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.999% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500).

In January 2008, Nordic exchange operator OMX Group acquired 100% of shares of the Armenian Stock Exchange (Armex) and the Central Depository of Armenia (CDA). After the combination of NASDAQ and OMX in February 2008, Armex and CDA have become fully owned by the NASDAQ OMX Group, Inc. On January 26, 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.
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