K.Saroyan: FEAS head office moving from Istanbul to Yerevan will help to increase Armenian rating

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.