Armenia, Poland  Central Depositories  sign agreement: investors to  gain access to  Armenian capital market

ArmInfo.The Central Depository of Armenia and the National Depository of Clearing Services of Poland (Krajowy Depozyt Papierow Wartosciowych SA, KDPW) signed a Cooperation Agreement. The signing ceremony took place on the sidelines of the International Banking Forum in Yerevan.

KDPW is responsible for the registration and custody of securities,  as well as for the settlement of transactions concluded on the Warsaw  Stock Exchange. The latter is a shareholder of the Armenian Stock  Exchange (AMX).

Ani Makaryan, CEO of the Central Depository of Armenia, told ArmInfo  that the agreement signing marks the culmination of a year of  collaborative efforts. The agreement presents several opportunities  for participants in the capital markets of Armenia and Poland. The  document potentially allows Armenian issuers listed on the Armenian  Stock Exchange to also be listed on the Warsaw Stock Exchange, which  is necessary, but not sufficient condition. Conversely, participants  in Warsaw Exchange trading now have the opportunity to trade Armenian  issuers' securities. According to Makaryan, "this is part of a larger  picture," enabling Armenia to serve as a financial and investment  bridge between the region, Asia, and Europe.

In response to a question about the potential integration of the  trading platforms of the Armenian and Warsaw Stock Exchanges,  Makaryan noted that current European Union regulations  pose an  obstacle. She expressed hope that such integration will eventually  occur.

It should be noted that the National Depository of Armenia currently  holds the registers and registered securities of approximately 5,000  Armenian issuers (OJSCs, CJSCs, investment funds, and other debt  issuers). AMX lists approximately 150 securities, with about 10  issuers ofering equity securities (stocks).