Monday May 20 2013
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: Correspondence with Regulators
The Central Depository of Armenia (CDA), part of the NASDAQ OMX Group has launched a new business model of depository operations in Armenia. The new business model will align CDA with the best international standards, ensuring a higher level of safety and greater efficiency of operations.
The reform is first of all aimed at improving services provided to companies and shareholders, as well as increasing the efficiency of execution and protection of shareholders rights.
Within the new model, CDA will be capable of ensuring centralized registry keeping, and securities custody as well as clearing and settlement of stock exchange transactions through the introduction of a specialized software solution and enhanced hardware and security facilities. Registry keeping and securities custody services will be provided to customers via account operators – investment companies and banks, which signed the relevant agreement with the CDA.
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