The Central Bank of Armenia and Central Depository of Armenia ojsc, launched a new business model of depository operations in Armenia, aligned with the best international standards, ensuring higher level of safety and efficiency of operations. This reform is first of all aimed at improving services provided to companies and shareholders, as well as increasing efficiency of execution and protection of their rights.
Within the new model, CDA will be capable to ensure centralized registry keeping, securities custody, as well as clearing and settlement of stock exchange transactions through introduction of specialized software solution and enhanced hardware and security facilities. Registry keeping and securities custody services are provided to customers via account operators - investment companies and banks, that have signed the relevant agreement with the CDA.
Those who do not have or have closed a securities account registered in the Unified system of securities registration and settlement must apply to the Central Depository through the mediation of the account operator for information on the absence of securities owned by them. Upon receipt of the request, the account operator shall identify the person submitting the request and redirect the request to the Central Depository.
To become an Account Operator, a company needs to conclude a contract with the CDA, comply with minimum technical requirement and the CDA Rules.
Currently, the following companies act as Account Operators: