Starting December 4, the Armenian Stock Exchange (Armex) will extend its trading hours for corporate securities from one hour to four. This means that exchange trading in equities and corporate bonds will now take place each business day from 11:00 to 15:00 just like exchange trading in currency and Government bonds.
This significant improvement has become possible thanks to the deployment of new software modules that help automate pre- and post-trade processes. The modules developed by NASDAQ OMX Armenia are fully integrated with the clearing and settlement system operated by the Central Depository of Armenia (CDA).
As part of the new streamlined pre-trade procedure, orders to block securities received by the CDA from Armex member companies prior to the opening of the exchange trading are now automatically entered into the CDA’s securities settlement system. After the close of trading, the obligations of the parties resulting from the trades are determined and compiled into electronic payment orders with no manual intervention, and then transmitted to the Central Bank of Armenia for final settlement.
The introduction of this improved process ensures a more convenient and technologically capable trading environment for Armenian investment companies and banks, and represents yet another step on the path chosen by NASDAQ OMX Armenia to continuously develop the Armenian securities market through innovation, technology improvement and close cooperation with all stakeholders in the market.