ArmInfo.Based on the best international experience, Armenia Securities Exchange has developed and for the first time in the region introduced corporate bond exchange indices, the prices of which are calculated and published on the official website of AMX on a daily basis.
Indices can be used by investors to obtain information about the overall picture of the bond market, for risk and portfolio analysis, fund performance evaluation, as well as comparative analysis with similar instruments in other markets.
The exchange intends to calculate and publish data of 4 indices: AMX C3YBI_AMD and AMX C3YBI_USD, which express the indices of coupon bonds issued in AMD and USD with a maturity of 1 to 3 years, AMX CBMI_AMD and AMX CBMI_USD, which express the indices of coupon bonds issued in AMD and USD with a maturity of 1 year and more. Data of 3 indices are currently being calculated and published, the calculations of the fourth (AMX CBMI_AMD) index will start in case of a sufficient increase in the share of AMD bonds with a maturity of more than 3 years.
The indices databases now include AMD and USD coupon bonds issued in "Abond" and "Bbond" lists, as well as coupon bonds with fixed coupons having AMD 500,000,000 and more listing volume and coupon bonds having USD 1,000,000 and more listing volume. Index data is updated within 45 minutes after the end of trading sessions.
"The development of indices by Armenia Securities Exchange is a step forward in the Armenian securities market, which was greatly facilitated by the impressive growth of both the issues of corporate bonds listed on the Securities Exchange and the volume of securities exchange transactions carried out with them. Indices are mainly used as indicators of the country's financial market and economic activity, with the help of which it is possible to study such important indicators as weighted average yield, which in its turn becomes a guideline for developing the interest. Due to the further development of the regulated securities market, it is also planned to develop equity indices, sectoral indices of bonds and shares, indices with new currencies and maturities," said Hayk Yeganyan, Chief Executive Officer at Armenia Securities Exchange.
Along with indices published in the form of graphics and numbers, the weighted average yields and duration of the bonds included in the index databases, the index calculation methodology and other analytical materials are available on the website.
To note, Armenia Securities Exchange (AMX) is the only securities regulated market operator in Armenia that also owns 100% shares of Central Depository of Armenia. The mission of AMX group is to foster the development of investment environment in listing, trading, clearing and settlement, and funded pension management.
