6 replies to this topic

[Boghos]

27/04/2007
OMX, the leading expert in the exchange industry, and the Central Bank of Armenia and the Government of Armenia have signed a letter of intent regarding acquisition of the Armenian Stock Exchange and the Central Depository of Armenia.
"We believe that acquiring the Armenian Stock Exchange and Central Depository is an opportunity for OMX to leverage our experience from developing emerging markets in other countries. OMX will strengthen the Armenian securities market with the goal to enhance its efficiency, liquidity and visibility. Furthermore, OMX’s ambition is to use the Armenian case as a benchmark to enter other emerging capital markets," says Magnus Becker, the CEO of OMX.
"We are delighted that OMX has decided to participate in developing the Armenian capital market. The Armenian government and the Central Bank of Armenia are truly committed to this task and we will do all we can to help OMX achieve the mutually set goals," says Serge Sargsyan, Prime Minister of the Republic of Armenia.
"The Central Bank of Armenia has been working together with OMX for over a year and we believe that this acquisition is an important step towards achieving our long-term goals for the Armenian capital market. We welcome OMX’s increased involvement and a continued positive cooperation", continues Tigran Sargsyan, Governor of the Central Bank of Armenia.
OMX’s knowledge of developing the Nordic and Baltic markets and providing technology to more than 60 exchanges in over 50 countries provides OMX with a strong platform from which to develop the Armenian securities market.
The size of the Armenian market is currently small by any standards, but OMX sees the potential for growth due to a number of contributing factors, such as the upcoming pension reform, changes to the legal framework and an increased focus on the equity market as a source of capital for companies in the region.
The final agreement depends on fulfillment of certain conditions and is subject to final approval from relevant Armenian authorities and the Central Bank of Armenia.
Source: OMX Group official web-site

[hosank]

i agree with this article...the ASX will gain importance from it

[Boghos]

More news: Nasdaq is buying OMX and hence the Armenian Stock Exchange.Ha!

[Accelerated]

This is good news, if anything its indicative of how the business climate is regarded outside the country.

[alpha]

I think it's time for structured finance industry to follow the lead of the Russian market.

Troika Dialog Asset Management closes first-ever Russian corporates CDO

Thu, 06 Sep 2007

Moscow-based Troika Dialog Asset Management, in conjunction with Deutsche Bank, has closed CDO I, the first ever rouble-denominated collateralised debt obligation invested in Russian corporate bonds to be fully placed with investors.

CDO I is a three-year, RUB8.95bn (USD350m) CDO based on a diversified portfolio of local currency corporate credits, and according to the issuers is a testament to both the growth in non-governmental domestic debt issuance in Russia and the increased investor appetite for such structured risk.

The portfolio is managed by Troika Dialog, which had assets under management of USD3.7bn at the end of June 30, including more than USD1.1bn invested in bonds and cash.

The capital structure of the CDO includes equity, mezzanine and senior tranches. The risk underlying the transaction is synthetic, consisting of credit default swaps of varying maturity referencing the rouble-denominated obligations of the underlying names.

Troika Dialog Asset Management may make substitutions within the portfolio based on certain agreed criteria in order to maintain the diversity and credit quality of the underlying portfolio.

Founded in 1996, Troika Dialog Asset Management is part of the Troika Dialog Group of companies and is one of the largest independent asset management companies in Russia, with mutual funds and the Troika Russia Fund, an equity long/short fund launched in May 2006.

Founded in 1991, Troika Dialog Group is active in securities trading and investment banking as well as asset management and has offices in 12 cities in Russia as well as in New York, London and Kiev.

[Shushi]

I think it's time for structured finance industry to follow the lead of the Russian market.

Troika Dialog Asset Management closes first-ever Russian corporates CDO

Thu, 06 Sep 2007

Moscow-based Troika Dialog Asset Management, in conjunction with Deutsche Bank, has closed CDO I, the first ever rouble-denominated collateralised debt obligation invested in Russian corporate bonds to be fully placed with investors.

CDO I is a three-year, RUB8.95bn (USD350m) CDO based on a diversified portfolio of local currency corporate credits, and according to the issuers is a testament to both the growth in non-governmental domestic debt issuance in Russia and the increased investor appetite for such structured risk.

The portfolio is managed by Troika Dialog, which had assets under management of USD3.7bn at the end of June 30, including more than USD1.1bn invested in bonds and cash.

The capital structure of the CDO includes equity, mezzanine and senior tranches. The risk underlying the transaction is synthetic, consisting of credit default swaps of varying maturity referencing the rouble-denominated obligations of the underlying names.

Troika Dialog Asset Management may make substitutions within the portfolio based on certain agreed criteria in order to maintain the diversity and credit quality of the underlying portfolio.

Founded in 1996, Troika Dialog Asset Management is part of the Troika Dialog Group of companies and is one of the largest independent asset management companies in Russia, with mutual funds and the Troika Russia Fund, an equity long/short fund launched in May 2006.

Founded in 1991, Troika Dialog Group is active in securities trading and investment banking as well as asset management and has offices in 12 cities in Russia as well as in New York, London and Kiev.

Troika is run by Ruben Vardanian, originally from Yerevan. Troika is in the process of purchasing ArmimpexBank.

[Mindtrap]

This is another classic case of globalization at its best and worst. There is two sides to this aquasition, yes Armenia will become a bigger player in the world filed of finance but how will it affect our people in the long run? Will it stunt the countries potential like in so many other third world countries? I guess only time will tell.