ArmInfo. The Armenian Securities Exchange (AMX) and the Abu Dhabi Securities Exchange (ADX) signed a memorandum of understanding aimed at establishing mutually beneficial cooperation and strengthening strategic partnership. The document was signed on August 13 by AMX CEO Hayk Yeganyan and Abu Dhabi Securities Exchange Group CEO Abdul Salem Al Nuami. ADX Chief Operating Officer Saker Aslan was also present at the signing of the memorandum. This was noted in the press release of the Armenian Securities Exchange.
AMX emphasizes the need to exchange experiences and implement partnership programs that will serve the development of the Armenian capital market and create opportunities to find ways to open markets on a bilateral basis for potential foreign investors. The goal of the exchanges is to share professional experience and contribute to the creation of a competitive capital market through joint programs. Through this partnership, Armenia and, in particular, the Armenia Stock Exchange, aim to become an important bridge connecting the dynamic markets of the Middle East and Europe, facilitating the implementation of mutually beneficial financial programs.
Notably, during the AIM Congress Annual Investment Conference held in Abu Dhabi in May, AMX representatives were invited to the Abu Dhabi Securities Exchange, where they were introduced to the exchange's functions, the capabilities of the new trading platform and shared experiences. The conference was followed by various discussions and meetings aimed at exchanging experiences between specialists from the two exchanges, which marked the beginning of the signing of today's memorandum of understanding.
The parties hope that the new round of cooperation will create new opportunities and preconditions for the growth of both exchanges, strengthening their positions as key players in the financial market.
The Abu Dhabi Securities Exchange (ADX) is the second largest stock market in the Arab region, where shares, government and corporate bonds, as well as other financial instruments are traded. ADX is part of ADQ, one of the largest holding companies in the region, with a wide portfolio of large enterprises covering key sectors of Abu Dhabi's diversified economy.
The Armenian Stock Exchange (AMX) is the only stock exchange operating in Armenia, which is also the sole shareholder of the Central Depository of Armenia. The mission of AMX Group is to contribute to the formation of a favorable investment environment in Armenia by offering effective solutions and services, including in the field of securities trading, clearing, settlements and pension system management. In mid- 2022, the controlling stake (65.03% or 967 shares) of the Armenian Stock Exchange was transferred to the Warsaw Stock Exchange, the Central Bank of the Republic of Armenia retained a shareholding of 25.02% of the shares, and the remaining 9.95% is the share of the Armenian Stock Exchange. Before agreeing to sell AMX to the Warsaw Stock Exchange, the Central Bank owned 90.05% of the shares of the Armenian Stock Exchange. The Warsaw Stock Exchange (WFB), the largest developed market in Central and Eastern Europe, organizes trading in shares, bonds, derivatives, fund units and other instruments.
