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).
