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MOEX Day: The prospects of trade between Russian and Armenian capital markets

MOEX Day: The prospects of trade between Russian and Armenian capital markets

On MOEX Day in Yerevan on February 7, Armenian providers of investment banking services, brokers and companies from private sector learned about the possibilities to attract financing from Russian and other foreign capital markets and provide services jointly with Russian investment companies.

MOEX Day in Yerevan was attended by representatives of Moscow Stock Exchange, Russian National Settlement Depository (NSD), as well as Russian investment companies Renaissance Capital and GrottBjorn.

Armenia was represented at the event by a number of providers of investment banking services, brokers, and government employees.

CEO at Armenia Securities Exchange (AMX) Hayk Yeganyan underlined the importance of contacts between Armenian participants and Russian partners for consideration of opportunities in capital markets outside of Armenia.

“We want to inform all issuers and brokers about cross-listing. The Central Bank of Russia has already affirmed the list of exchanges, securities from which can trade in the secondary market at Moscow Stock Exchange as well. AMX is on the list,” he noted.

Mutual access

Head of Cash Equities Department at Moscow Exchange Boris Blokhin finds cooperation with Armenia especially important in terms of adjustment of simplified mutual access to exchange markets of the two countries to legal requirements and mutual recognition of licenses.

“Brokers and dealers licensed to trade in Moscow Stock Exchange will have access to Armenia Securities Exchange and vice versa. It will enable us to prevent mutual repetition and eliminate the need for additional infrastructure. That is what we aim for, because there is evident mutual interest and the markets are very comprehensible and simple in general for our two countries,” he said. Boris Blokhin hopes that active efforts of the inter-governmental working group will create relevant opportunities in the nearest future.

Mutual demand

According to Blokhin, cooperation with Armenia in attracting investment and capital has huge prospects.

“We can see that various Russian investors are interested in equity-based financial instruments, for instance, in the form of bond listing, shares, etc.,” he said, stressing that in case of demand for transactions in Armenian national currency, discussions would be organized on introduction of a corresponding tool set.

Boris Blokhin added that the event in Yerevan was a wonderful opportunity to present Russia’s capital market to Armenian investors.

“The technologies and tools we use advance very quickly and the number of participants grows dynamically. I am certain Armenian investors are interested in these opportunities to attract capital,” he said.

The road to progress

Hayk Yeganyan assured more events like MOEX Day would be organized in Yerevan and representatives of other international exchanges would be invited.

“We achieved an agreement on organization of an event in the same format in Moscow. Representatives of Armenia Securities Exchange and a number of investment companies are going to attend it and search for interested partners,” he said.

According to Yeganyan, events of this kind facilitate improvement of quality of financial education and services, which leads to development of the exchange.

“Development of the capital market mostly depends on development of investment banking services. If there is no investment service provider to encourage bond issuing by businesses and guarantee those bonds will be sold, the capital market cannot progress. Such guarantees can be given in the framework of MOEX Day and similar events, through communication with partners, accurate assessment of risks of issuing and the bond price, and identification of relevant investors,” concluded Hayk Yeganyan.