Yerevan/Mediamax/. Deputy CEO of “NASDAQ OMX Armenia” Stock Exchange Karen Zakaryan stated that “all preparatory works on implementing T+3 system of mutual settlement of accounts have been completed and we are waiting for a signal from the market”.

Karen Zakaryan stated in an interview to Mediamax that transition to T+3 is not an end in itself, and the corresponding demand is required for its implementation, and they lack that demand yet.

“We plan simultaneous launch of the system without preliminary consignation with the existing T+3 system. The launch of the new system provides for certain mechanisms of risks insurance, and that makes it more expensive. At the same time, we improve the current mechanism, and our system of preliminary consignation today is far more flexible than before”, Karen Zakaryan stated.

The advantage of T+3 system is the fact that mutual settlement of accounts is carried out in the course of 3 days after conclusion of the deal. At present, the mutual settlement of accounts takes place upon completion of the deal, and this deters the liquidity of the market, since the one, who wants to conclude a deal at the moment, may not possess the necessary sum or securities for the deal.