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About the Armenia Securities Exchange
The Armenia Securities Exchange (AMX) is the only stock exchange currently operating in Armenia. Based in Armenia’s capital of Yerevan, the AMX is one of the world’s youngest and smallest stock exchanges. However, there is optimism that the AMX will experience healthy growth in the years to come. Keep reading to learn about its history, some of its top stocks, its most notable sectors, and more.
The Armenia Stock Exchange launched in 2001 as a self-regulatory organisation. It took another six years before the exchange became demutualised and opened its doors wider for new membership.
Interest in the exchange picked up significantly, starting in 2014. That year, the Armenian government launched a new pension program forcing all employees after 1974 to set aside 5 percent of their annual salary into private pension funds. The AMX and the Central Depository of Armenia control the registry of participants in the new pension system. That new piece of legislation prompted much faster flows of capital into the exchange, in an effort to capitalise on the expected flow of pension fund money into the market.
Despite those advances, AMX activity remains far less robust than its stock market counterparts in larger nations. For instance, stocks trade for just four hours per trading day. During those hours, investors can trade stocks, as well as corporate and government bonds, currency, credit resources, and repurchase agreements.
Governed by NASDAQ OMX, the exchange rebranded as the Armenia Securities Exchange in 2019. The Armenia Securities Exchange is a member of the Federation of Euro-Asian Stock Exchanges (FEAS), the International Association of CIS Exchanges, and the American Chamber of Commerce in Armenia.
The AMX comprises all of the stocks listed on the Armenia Securities Exchange. Since the AMX includes only 10 stocks, the exchange does not feature any weighted stock indices.
The Armenia Securities Exchange lists just 10 stocks, consisting entirely of Armenian banks and other financial service providers.
Its market capitalisation sits at about $2.2 billion (USD), making it one of the smallest stock exchanges in the world.