NASDAQ OMX Armenia’s and Central Depository of Armenia’s supervisory boards have approved the high-level strategy and development plan for 2018- 2020.

The stock exchange said that as the companies seek to utilize business opportunities and strengthen their positions within local and regional capital markets, the team has developed a new strategy and initiated a reorganization to support the implementation of the key initiatives for the next three years.

“We will be striving to identify new business opportunities both locally and internationally that can create economic value for and within Armenia and put the country on the global financial map,” said Hayk Yeganyan, CEO at NASDAQ OMX Armenia.

“Partnering with Clearstream Bank Luxembourg, Raiffasen Bank and Russia’s National Settlement Depository and others, we make Armenian securities accessible to over 50 markets. Now we aim to revive the international relations by introducing new approaches, solutions and technologies, as well as help local issuers improve the reputation and quality of the securities they issue,” said Vahan Stepanyan, CEO at Central Depository of Armenia.

In the next three years, the organizations plan to carry out a set of activities in the frames of the new strategy, which will include:

- Replacing entirely the old trading technology with a modern one, which can provide direct connectivity to the exchange both for local retail and international traders;

- Introducing a new crowdfunding platform that will enable startups to raise equity and debt capital;

- Introducing Alternative Investment Market of Armenia (AIMA), where the issuers of securities can directly sell their bonds and other securities to retail investors;

- Generating cross-listing opportunities with European and Eurasian exchanges, bridging the two regions;

- Building multicurrency B2B unsecured credit trading platform for major companies, enabling trades on their own accounts;

- Introducing FundNet, a fund registration platform, allowing local and international fund managers to set up multicurrency Armenian investment funds and benefit from favorable legal regulations of Armenian jurisdiction;

- Developing and introducing an electronic voting (e-voting) service at the depository for the ease of general shareholder meetings;

- Developing mobile/online applications for depository services, etc.