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 point 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 Fare Burse as new board members replacing the withdrawal exchanges (Bourse Istanbul and Sarajevo Stock Exchange) will defiantly 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.