Post-trade specialist Clearstream has opened a nominee account with Armenia’s central depository, CDA.

The move means foreign investors should have easier access to Armenian government bonds and supranational bonds.

Initially the domestic link will provide settlement and custody services, adding the Armenia Dram (AMD) as a full settlement currency.

The CDA, which is owned by Nasdaq OMX, opened a nominee account with Clearstream back in 2013.

The connection allowed Armenian investors to invest in securities around the world.

As well as the CDA, Nasdaq also owns and the Armenian Stock Exchange.

Both businesses form the bulk of securities market infrastructure in the landlocked country which has Turkey to the west and Georgia to the north.

Specifically, CDA is the entity responsible for shareholders registers and accounts.

It is also the agency performing centralized dematerialization of securities and their registration in the name of lawful holders. 

In addition, CDA acts as the centralised custodian of securities representing the first level of the Armenian two-level custodial system. 

All other local custodians act as sub-custodians based on a contract with the CDA.