Tuesday, August 13 2024 14:38

ArmInfo. The Armenian Securities  Exchange (AMX) and the Abu Dhabi Securities Exchange (ADX) signed a  memorandum of understanding aimed at establishing mutually beneficial  cooperation and strengthening strategic partnership. The document was  signed on August 13 by AMX CEO Hayk Yeganyan and Abu Dhabi Securities  Exchange Group CEO Abdul Salem Al Nuami.  ADX Chief Operating Officer  Saker Aslan was also present at the signing of the memorandum. This  was noted in the press release of the Armenian Securities Exchange.

AMX emphasizes the need to exchange experiences and implement  partnership programs that will serve the development of the Armenian  capital market and create opportunities to find ways to open markets  on a bilateral basis for potential foreign investors. The goal of the  exchanges is to share professional experience and contribute to the  creation of a competitive capital market through joint programs.  Through this partnership, Armenia and, in particular, the Armenia  Stock Exchange, aim to become an important bridge connecting the  dynamic markets of the Middle East and Europe, facilitating the  implementation of mutually beneficial financial programs.

Notably, during the AIM Congress Annual Investment Conference held in  Abu Dhabi in May, AMX representatives were invited to the Abu Dhabi  Securities Exchange, where they were introduced to the exchange's  functions, the capabilities of the new trading platform and shared  experiences. The conference was followed by various discussions and  meetings aimed at exchanging experiences between specialists from the  two exchanges, which marked the beginning of the signing of today's  memorandum of understanding.

The parties hope that the new round of cooperation will create new  opportunities and preconditions for the growth of both exchanges,  strengthening their positions as key players in the financial market.

The Abu Dhabi Securities Exchange (ADX) is the second largest stock  market in the Arab region, where shares, government and corporate  bonds, as well as other financial instruments are traded. ADX is part  of ADQ, one of the largest holding companies in the region, with a  wide portfolio of large enterprises covering key sectors of Abu  Dhabi's diversified economy.

The Armenian Stock Exchange (AMX) is the only stock exchange  operating in Armenia, which is also the sole shareholder of the  Central Depository of Armenia. The mission of AMX Group is to  contribute to the formation of a favorable investment environment in  Armenia by offering effective solutions and services, including in  the field of securities trading, clearing, settlements and pension  system management. In mid- 2022, the controlling stake (65.03% or 967  shares) of the Armenian Stock Exchange was transferred to the Warsaw  Stock Exchange, the Central Bank of the Republic of Armenia retained  a shareholding of 25.02% of the shares, and the remaining 9.95% is  the share of the Armenian Stock Exchange. Before agreeing to sell AMX  to the Warsaw Stock Exchange, the Central Bank owned 90.05% of the  shares of the Armenian Stock Exchange. The Warsaw Stock Exchange  (WFB), the largest developed market in Central and Eastern Europe,  organizes trading in shares, bonds, derivatives, fund units and other  instruments.