Armenia has approved an agreement allowing brokers and dealers from one member of the Eurasian Economic Union (EAEU) to participate in trading on the stock exchanges of other EAEU countries. According to Hayk Eganyan, CEO of the Armenia Securities Exchange, this step marks significant progress in making the Armenian capital market more appealing to foreign investors.
"The Armenia Securities Exchange highly values initiatives that bring new financial tools and opportunities to develop our capital market. This agreement will encourage the free and unhindered entry of new investors into the Armenian financial market, boosting liquidity and transaction volume," Eganyan said, as reported by Armenpress.
Eganyan emphasized that the initiative addresses two key issues: enabling EAEU brokers to access government and corporate securities traded in Armenia and allowing Armenian citizens to access securities available on EAEU exchanges. He noted that increasing the number of brokers would enhance overall market liquidity.
He also stressed that, along with Armenia's collaboration with the Abu Dhabi Exchange through the TABADUL HUB platform, this agreement represents another step toward attracting foreign investors to Armenia’s capital market.
The agreement enables Armenian resident brokers and dealers to acquire securities and derivative instruments—including currency derivatives—listed on EAEU exchanges, both for resident clients and for clients from non-EAEU countries. Conversely, EAEU investment firms will gain access to securities traded in Armenia, promoting inbound investments.
The main goal is to allow non-resident clients from EAEU countries to directly access member state exchanges through their brokers and dealers, enabling them to purchase securities and derivatives without intermediaries.
This move aligns with Armenia’s 2021–2026 government program to improve the business and investment climate, which includes initiatives to boost and develop the securities market. It also supports the 2020 Capital Market Development Program that aims to attract foreign investment service providers, including from EAEU states.
The agreement draft was approved by the Eurasian Economic Commission Council on April 29, 2024. Its justification states that signing the agreement supports the goal of forming a unified financial market within the EAEU.
