Yerevan/Mediamax/. eCSDX, a subsidiary of NASDAQ OMX Tallinn, will provide to the customers software and related services to perform services which must be accomplished by register of participants of pension funds in II pillar pension system for the Republic of Armenia.

Mediamax was informed in NASAQ OMX Armenia press service that the corresponding agreement was signed by eCSDX, Central Depository of Armenia, the Armenian Government and the Central Bank.

According to the Armenian Legislation pension accounts of participants to II Pension Pillar should be kept centralized. This decision was made based on the Estonian experience, thus the relevant experience and software are planned to be used while implementing this system in Armenia.

“As Estonia has had II pension pillar for 10 years and the central registry system has worked well in Estonia then Armenian authorities have decided to use the experience of NASDAQ OMX Tallinn in building such a system,” commented Andrus Alber, the Chairman of the Management Board of NASDAQ OMX Tallinn.