Expert: In 3-4 years, Armenian Stock Exchange will be comparable to  European exchanges

ArmInfo. In the next 3-4 years, the Armenian Stock Exchange (AMX) is expected to reach a level  comparable with European exchanges, and within 5-10 years, it will be on par  with the American markets.

This was stated by Mariam  Grigoryan, an investment expert at Dimension investment company, in  an interview with an ArmInfo correspondent at a seminar for  journalists organized by TCF (The Crowdfunding Formula), an  international marketing and crowdfunding company. 

She formed this opinion primarily because AMX was acquired by the  Warsaw Stock Exchange (WSE), leading to positive impact on the  infrastructure and technologies used. The expert highlighted that   this acquisition is contributing to the development of the overall  stock exchange system, introducing international expertise and  facilitating the  retraining of specialists. "That is, innovative  thoughts and ideas are coming to Armenia, which is good news," she  said. At the same time, Grigoryan expressed concerns about the  shortage of specialists in this area and the low level of financial  literacy among the public. 

When asked about the lack of activity in the corporate securities  market in Armenia, Grigoryan noted that, one of the main barriers is  the strict criteria that companies must meet. They are required to  pass an audit, have been operating in Armenia for at least 3 years,  and show a profit annually. Additionally, she pointed out the  existence of a shadow economy, noting  that not all companies are  willing to be transparent. She reported that currently there are 31  accountable issuers on the Armenian Stock Exchange, with 200  securities  listed. "This is a good indicator, but it could be even  better in the coming years," Grigoryan believes.

It should be noted that Dimension Investments was founded in 2018 and  provides services in  securities, consulting on capital markets and  investment management. The company has been a member of the Armenian  Stock Exchange since June 2019 and is a licensed operator of accounts  at the Central Depository of Armenia. TCF is an international  marketing and crowdfunding company with offices in Armenia, the USA,  and China. According to Forbes, TCF is ranked among the TOP-3  crowdfunding platforms in the world.