FEAS TO MOVE THE FEDERATION'S HEADQUARTER TO ARMENIA
NASDAQ OMX Armenia
Posted: Wednesday, 17 May 2017
During the Extraordinary General Assembly Meeting of the Federation of Euro-Asian Stock Exchanges (FEAS) held on May 16, 2017 in Tehran, it was decided to move the Federation's headquarter from Istanbul, Turkey to Yerevan, Armenia.
With the majority of "for" and no "against" votes, the General Assembly elected Armenia as the new host country for the FEAS's headquarter, after 22 years of operation in Turkey, since the establishment of the Federation in 1995.
"It is a historical and turning moment for the Federation after three years of struggle", said Mohammed Omran, the Chairperson of the Federation and the Executive Chairman of the Egyptian Exchange. "Having two young and ambitious exchanges; Cyprus Stock Exchange and Iran Fara Bourse as new board member replacing the withdrawing exchanges (Borsa Istanbul and Sarajevo Stock Exchange) will definitely enhance the dynamism of the Federation", Omran added.
Moving the Federation's headquarter to Armenia NASDAQ OMX Armenia will start to support the administration of the Federation. Governance of the Secretariat has been entrusted to Mr. Konstantin Saroyan, CEO of NASDAQ OMX Armenia, who was appointed as FEAS Secretary General. His appointment was recommended by the Executive Board and approved by the majority of General Assembly.
"We are starting a new era of FEAS operation, administering the Federation from Armenia. Always being considered as cross-road of eastern and western cultures, Armenia will link different economic and political structures within FEAS, bringing success and growth to the Federation", said Mr. Konstantin Saroyan, CEO, NASDAQ OMX Armenia.
To recall, Armenia, represented by “Yerevan Stock Exchange” (later "Armenian Stock Exchange" and after "NASDAQ OMX Armenia") was among 12 founding members of the FEAS. Since November 2016 NASDAQ OMX Armenia has also been acting as FEAS Executive Board Member.
The Federation of Euro-Asian Stock Exchanges (FEAS) was established on May 15, 1995 with 12 founding members. The founders were: Amman Stock Exchange, Bratislava Stock Exchange, Central-Asian Stock Exchange (Kazakhstan), First Bulgaria Stock Exchange, Istanbul Stock Exchange, Karachi Stock Exchange, Ljubljana Stock Exchange, State Commodity Raw Materials Exchange (Turkmenistan), Tehran Stock Exchange, Tel Aviv Stock Exchange, Yerevan Stock Exchange and Zagreb Stock Exchange.
The purpose of the Federation is to contribute to the cooperation, development, support and promotion of capital markets in the Euro-Asian Region (i.e. Europe, Asia and the Mediterranean Basin).
Currently FEAS has more than 40 members, including stock exchanges, post trade institutions, dealers associations and regional federations from over 30 countries.
For further information please visit the FEAS official web-site: www.feas.org.
Related Link: http://www.feas.org