Depository to people: The new experimental business model

Hayk Yeganyan, Samvel Harutyunyan and Armen Asatryan
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Hayk Yeganyan: Chief Executive Officer, Armenia Securities Exchange, Armenia
Samvel Harutyunyan: Trading Support Specialist, Armenia Securities Exchange, Armenia
Armen Asatryan: Business Analyst, Armenia Securities Exchange, Armenia

Journal of Securities Operations & Custody, 2020, vol. 12, issue 2, 175-186

Abstract: The paper is devoted to the study of the primary results of the introduction of the new experimental business model ‘depository to people (D2P)’ and its technological solutions. It identifies the main problems of the financial markets inherent in transition economies, taking into account a characteristic of the Armenian capital market, a need, the solution of which determined the strategy for the development and implementation of innovative approaches. Further, it describes in detail the functionalities and operations of the new online platform that enables individuals to directly open a securities account at the Central Depository of Armenia and carry out transactions with securities without intermediaries using an intuitive user interface. The paper carries out a statistical and comparative analysis of investment preferences of Armenian citizens and exchange trading data as well as the investing activity of users of the online platform, eventually disclosing the ideas laid down in the new business model and its financial and economic functions.

Keywords: depository services; capital market; exchange technologies; securities marketplace (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2020:v:12:i:2:p:175-186

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