Republican Stock Exchange Toshkent Posted
On November 26, 2021, the Moscow Exchange and the Republican Stock Exchange “Toshkent” (Uzbekistan) signed a memorandum of cooperation.
The official signing ceremony, which took place as part of the II International Financial and Banking Forum of the CIS Member States in Tashkent, was attended by Igor Marich, Managing Director for Sales and Business Development of the Moscow Exchange, and Bekzod Usmonov, Chairman of the Board of the Toshkent Republican Stock Exchange .
Joint work within the framework of cooperation will be aimed at developing exchange instruments, opening new markets and strengthening bilateral relations. According to the memorandum, the possibility of establishing trade links between exchanges for cross-listing of securities included in the quotation lists of trading platforms is being considered. It also provides for the transfer of the experience of the Moscow Exchange in organizing trades in foreign securities.
Igor Marich, Member of the Management Board – Managing Director for Sales and Business Development of the Moscow Exchange:
“Russia and Uzbekistan are partners with a common history, close ties in many areas and increasing trade. The economy of Uzbekistan is growing rapidly, the country is actively developing, including in the field of the financial market, a large-scale privatization program has been announced. In these conditions, we see a great interest of Uzbek companies in attracting capital in the Russian market, and on the part of exchanges in using our best practices in building an effective infrastructure of the financial market. On the other hand, Russian investors and financial institutions are interested in participating in the growth of the capital market in Uzbekistan. The Moscow Exchange has accumulated extensive experience in the development of the financial market, trade and settlement infrastructure, the introduction of tools and technologies, as well as attracting international and local clients.
Bekzod Usmonov, Chairman of the Board of RFB “Tashkent”:
“Friendly relations have long been established between the RSE“ Toshkent ”and the Moscow Exchange. Back in 2005, we signed a memorandum of cooperation in the field of information exchange, mutual familiarization with regulations governing stock markets, facilitating the exchange of experience in organizing securities trading, including raising the professional level of specialists and their internship.
We are witnessing the rapid growth of financial markets in the CIS, and exchanges, as an integral part of them, should be the locomotive of progress. We are witnessing the growing interest of the general population in the stock market and are doing everything to satisfy these needs. Now we see the need to introduce new financial instruments, develop trade infrastructure, and increase the financial literacy of the population. In this context, the Moscow Exchange has accumulated a lot of experience, which they are ready to share with us. We highly value our Moscow colleagues and will be happy to learn from their experience in the exchange business for the benefit of developing the local market. “