NASDAQ OMX will develop the Armenian Mandatory Pension Information System

In accordance with the agreement NASDAQ OMX 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. The development and advisory project will last until 2013. 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.