The Armenian Stock Exchange (Armex) was formed as a self-regulatory organization in February 2001 by 22 brokerages and investment firms. It demutualized in 2007 and became an open stock company. On January 7, 2008, the OMX acquired 100% of the shares in the Armex and the Central Depositary of Armenia (CDA), making it the sole shareholder. A year later, it was officially renamed the Nasdaq OMX Armenia.
The financial instruments that are traded include equities, corporate bonds, government bonds, repo, foreign currency and swaps. Trading in equities began in July 2001, foreign currency in November 2005, corporate bonds in December 2005 and government bonds in January 2008.
Equities are traded through three distinct markets. They are the main market, the secondary market and the free market, which is for unlisted equities that are admitted to exchange trading. Corporate bonds are also traded through three similar markets.