Friday, November 3 2017 16:03

General Secretary of FEAS: The main idea of the FEAS strategy is the implementation of unified marketing representative operations

General Secretary of FEAS: The main idea of the FEAS strategy is the implementation of unified marketing representative operations

ArmInfo. The main idea of the strategy of the Federation of Eurasian Stock Exchanges (FEAS) is the implementation of unified marketing representative operations, which will make the markets of member countries more visible, accessible and understandable to foreign investors.

Answering the question of ArmInfo, Secretary General of the Federation Constantin Saroyan said on the margins of the 24th General Assembly of FEAS, which was held on November 3 in Yerevan.

He stressed that with the formation of new staff, the approaches of the Federation were updated. "From now on, we will focus on promoting the member-markets of the Federation, in particular, their representation, increasing the image and visibility, ensuring accessibility and recognition of the capital markets for investors," C. Saroyan explained.

With the move of the head office from Istanbul to Yerevan, new opportunities open up for Armenia, K.  Saroyan noted. In the case of providing quality services, he said, it will be possible to increase the value of Armenia for the FEAS member countries, but not only in terms of activities in the Federation, but also in terms of providing other services. In addition, the secretary general noted that in view of the relocation of the head office, new jobs were opened. "Membership fees will henceforth be transferred to Armenia, and spent accordingly here, and this is an additional income," he said.

For his part, the chairman of the FEAS Council, Mohammed Farid, said that the General Assembly serves not only to exchange views among member countries, but also serves as a platform for the development of the agenda, in particular concerning reforms for stock exchanges in the Euro-Asian region. I am sure that after our annual meeting a lot of changes will follow in the Federation's regulations, which will become more flexible, in particular for the development of relations, but not only with stock exchanges, but also with clearing centers, correspondent companies, etc.," he said, responding to the question of ArmInfo.

Armenia, which is one of the 12 founders of FEAS, in November 2016 became a member of the Federation. On May 16, 2017, at an extraordinary meeting of the General Assembly of FEAS, a decision was made to move the head office of the Federation of Euro-Asian Stock Exchanges (FEAS) from Istanbul to Yerevan. With the prevailing number of votes for and no against, Armenia was chosen as the country representing the head office of FEAS. Prior to this, since the inception of the Federation, the head office of FEAS operated in Istanbul. According to the decision taken by the General Assembly, Nasdaq OMX Armenia will assist in the administration of FEAS, the secretary general of which was Nasdaq OMX Armenia General Director Constantin Saroyan, whose candidacy was approved by the overwhelming majority of the General Assembly with the support of the Executive Council.

The Federation of Euro-Asian Stock Exchanges was established on May 15, 1995. on the part of 12 stock exchanges. The Amman Stock Exchange, Bratislava, Kazakh, Bulgarian, Istanbul, Karachi, Ljubljana, Turkmen Commodity Exchange, Tehran Stock Exchange, Tel Aviv Stock Exchange, Yerevan Stock Exchange and Zagreb Stock Exchange founded the exchanges. To date, the membership of FEAS is approaching 40, including stock exchanges, post-trading financial institutions, dealer associations and regional federations from more than 30 countries. The purpose of the Federation is the development of the capital markets of the member countries of FEAS, in particular, the improvement of the organizational structure, the solution of regulatory and self-regulatory problems for brokers and dealers, and the organization of effective monitoring.

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