The Armenian Stock Exchange (Armex) will launch a new program putting into operation the National Electronic Trade System, based on the latest version of the Russian Trade System (RTS) PLAZA-5. Alexey Sukhorukov, the Deputy Director of the technical center of RTS, said earlier that the adaptation of RTS to the current level of the Armenian stock market and local legislation would take place relatively easily and quickly. The advantage of RTS is its reasonable price. Introduction and exploitation of this system will be cheaper than, for example, the American Portal system. According to Donald Hart, Head of the PriceWaterhouseCoopers office in Armenia, RTS has already recommended itself in the professional environment as well.
The Armex was established in February 2001 in
accordance with the law on regulation of the securities market of Armenia passed
in June 2000. It was founded by 22 brokerage and investment firms.
According to the Securities Commission of Armenia, the volume of operations
by market participants totalled 135 billion drams ($ 265 million USD) at the
end of 2000, 93% of which were deals with STBs. The volume of operations with
corporate securities transacted by brokerage and dealer firms reached 3.7 billion
drams ($ 6.5 million USD). The total capitalization of the securities market
was 17 billion drams ($ 35 million USD).