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Security Market

Central Depositary

Central Depository is a joint stock company that is set to perform functions of a centralized custodian, a centralized register and a securities accounting system operator, subject to the requirements of the Republic of Armenia Law on “Securities Market”, prudential regulations of the Central Bank and internal rules and regulations.

As a centralized custodian, the Central Depository:
  • provides custody services to sub-custodians and other parties as determined by the Central Bank,
  • dematerializes securities and runs the accounts thereof,
  • grants identification codes to securities.
As a centralized register, the Central Depository:
  • runs a register (a single data system) for the holders (owners) of securities as well as the number, type and class of securities they hold (own), based on a contract signed with the issuer.
As a securities accounting system operator,the Central Depository:
  • determines and offsets mutual liabilities and claims arisen out of the transactions performed by securities (clearing),
  • transfers securities on to appropriate accounts as a result of the transactions performed by securities and makes a final settlement,
  • fulfills monetary obligations with the members of the settlement system arisen with regard to final settlement of securities, based on a contract signed with the settlement service provider as determined by the Republic of Armenia Law on “Payment and Settlement Systems and Payment and Settlement Organizations”,
  • makes appropriate queries for carrying out clearing and final settlement of securities and monetary obligations, subject to the requirements of the law, regulations, settlement system rules and signed contracts,
  • creates and runs guarantee funds in order to make sure the mutual obligations of the settlement system members are fulfilled and associated risks minimized,
  • acts as a party to all transactions (a central agent to parties) in satisfying mutual obligations and claims arisen as a result of the transactions performed by securities.
 As well as provision of the Republic of Armenia Law on "Securities Market”, Republic of Armenia Law on “Joint Stock Companies” and other regulations governing the securities market, the activities of Central depositary of Armenia are governed also by internal rules and policies, amendments and addenda made thereto, adopted by Central depositary of Armenia, which take effect as and when registered by the Central Bank. Before and after registration by the Central Bank .
Chief Executive Officer: Vahan Stepanyan
Address: Vazgen Sargsyan str. 26/1, 5th floor, Erebuni Plaza Business Centre, 0010 Yerevan 
Contacts: tel. (+374) 60 61 55 55, fax: (+374) 10 543 321, email:
License number: 0001
Date of issuance of the license: 12/2/2008

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