Armenia Stock Exchange (AMX) Celebrates Its 25th Anniversary

ABBC A Category and Board Member Armenia Stock Exchange (AMX) celebrated its 25th Anniversary of the establishment and development of Armenia’s capital market, reflecting on the key achievements of the past quarter-century while marking the beginning of a new stage of growth.

As part of this significant milestone for the financial sector, a regional conference was held in Yerevan on May 29, bringing together leading industry experts, executives of international and regional stock exchanges and central depositories, representatives of regulatory authorities, investment and financial institutions, ambassadors, and senior government officials from more than 16 countries.

The event was honored by the presence of President of the Republic of Armenia Vahagn Khachaturyan, who emphasized in his welcoming remarks the important role of the Armenia Stock Exchange in the country’s economic development. The President’s participation served as a strong signal to international partners and investors that the development of Armenia’s capital market remains an important priority on the Government of Armenia’s agenda.

Hayk Yeganyan, CEO of the Armenia Stock Exchange, highlighted the Exchange’s pivotal role over the past 25 years in strengthening Armenia’s financial system, deepening international partnerships, and advancing regional integration. According to Yeganyan, the anniversary serves not only as an opportunity to celebrate past achievements but also as a platform for outlining new prospects and launching reforms of strategic national importance.

The CEO of the Armenia Stock Exchange expressed special gratitude to the international partners who joined the event, noting that their presence reflects Armenia’s growing position as a trusted and fully integrated participant in the global financial ecosystem. He also emphasized that the participation of Armenia’s highest-ranking officials, including the President of the Republic of Armenia and the Governor of the Central Bank of Armenia, sends a strong message to international partners regarding Armenia’s commitment to developing its capital market and modernizing its financial infrastructure.

Over the past 25 years, the Armenia Stock Exchange has evolved into a key financial market infrastructure institution, connecting issuers, investors, and international partners while promoting market transparency, innovation, and sustainable growth. Having successfully navigated an important path of establishment and development, AMX today provides a reliable and attractive platform for both domestic and international investment and cooperation.

During the past quarter-century, the Exchange has undergone significant transformation, continuously enhancing market infrastructure, strengthening transparency and governance standards, expanding investment accessibility, and deepening international cooperation.

The conference featured keynote speeches by Martin Galstyan, Governor of the Central Bank of Armenia, who emphasized the importance of capital market development, financial stability, and investment climate improvement, and David Tavadyan, Founder and Managing Partner of Kamertoon Multifunctional Complex, who addressed contemporary challenges related to economic growth and investment environment development.

The event also hosted a series of thematic panel discussions bringing together distinguished experts, representatives of international financial institutions, and leading capital market participants to discuss major industry trends, challenges, and future opportunities.

The first panel discussion, titled “Capital Markets as a Bridge for Economic Connectivity,” focused on regional economic integration, expansion of investment opportunities, and strengthening international cooperation. Participants shared experiences from different countries, highlighting the importance of interconnected capital markets and the need to facilitate investment flows within the context of global economic cooperation.

Recognizing the crucial role of public policy and regulation in promoting economic growth and integration, the second panel discussion, “Regulation and Policy as Enablers of Economic Growth and Cross-Border Integration,” explored opportunities for capital market development, strengthening investor confidence, and expanding international financial cooperation. Discussions also addressed legislative reforms, market transparency, and prospects for regional integration.

The modernization of digital technologies and the implementation of innovative financial solutions are increasingly important for capital market development. Against this backdrop, the third panel discussion, “The Future of Capital Markets: Fintech and Digital Transformation,” focused on innovation, market efficiency, and modernization of the investment environment. Participants discussed the future of fintech ecosystems, broader adoption of digital tools, and global trends in capital market digitalization.

The conference concluded with the panel discussion “Exchange Innovations: Crypto, Tokenization & Blockchain in Capital Markets,” which examined the impact of blockchain technologies, asset tokenization, and crypto solutions on capital market development. Participants highlighted the emergence of innovative trading platforms, prospects for digital asset regulation and adoption, and opportunities to enhance market transparency and efficiency through blockchain technologies.

As part of efforts to strengthen capital market infrastructure cooperation and deepen regional financial integration, the Armenia Stock Exchange (AMX) and the Kazakhstan Stock Exchange (KASE) signed a Memorandum of Understanding (MoU) to provide mutual market access through the Tabadul Hub platform. This important initiative is expected to broaden access to Armenia’s capital market and create new investment opportunities.

In parallel, emphasizing the importance of industry collaboration, Ani Makaryan, CEO of the Central Depository of Armenia (CDA), signed strategic cooperation agreements between the Central Depository of Armenia and Kazakhstan’s ITS, as well as between the Central Depository of Armenia and the Central Depository of Uzbekistan. These agreements are expected to play a significant role in expanding access to securities markets and advancing regional financial integration.

As in previous years, AMX organized the Annual AMX Awards ceremony recognizing outstanding achievements and contributions within Armenia’s capital market. This year’s awards were held as part of the Exchange’s 25th anniversary celebrations and aimed to honor organizations and individuals whose activities have made a substantial contribution to the development of Armenia’s capital market, strengthening financial infrastructure, and improving the investment environment.

Based on the review of 2025 market performance, winners were selected across 12 award categories, recognizing participants who demonstrated exceptional activity and achieved impressive results throughout the year. In addition, special recognition awards were presented in two categories to employees of various banks and investment companies.

The AMX 25th Anniversary celebration served not only as an opportunity to reflect on past achievements but also as an important platform for identifying new development pathways and future opportunities. The event once again underscored the vital role of capital markets in strengthening Armenia’s financial system, improving the investment climate, and expanding international cooperation. The discussions held and agreements reached during the conference demonstrate the sector’s continued commitment to modernization and the implementation of innovative solutions.