UZEX Awarded as the Best Corporate Governance Company Monday, 3 April 2023
Uzbek Commodity Exchange Posted
March 31, 2023, the National Association of Investment Institutions of the Republic of Uzbekistan (NAII) held an award ceremony for the winners in the contest “The Best in the capital market of Uzbekistan” following the results of 2022.
According to the results of the contest, “Uzbek Commodity Exchange” JSC won in the nomination “The Best Corporate Governance” in 2022.
Effective corporate governance of the exchange ensures a balance between managers and stakeholders, optimizes business processes, increases the transparency of the company’s operations, and contributes to the stable and sustainable development of the company as well.
According to the report of the International Association of CIS Exchanges, the Uzbek Commodity Exchange occupies leading positions among the commodity exchanges of the CIS countries in terms of the developed infrastructure, electronic trading platforms, the range of traded commodities and the trading volume.
The annual volume of transactions of UZEX exceeds 13 billion US dollars, which corresponds to about 16% of Uzbekistan’s GDP. There are 5 e-commerce trading systems are operating at UZEX in addition to the exchange trading.
UZEX structure includes 14 branches in all regional centers of Uzbekistan, more than 400 trading pits located in each district of the republic and about 40 overseas trading offices operating in various countries of the world. Meanwhile, the total number of customers of the exchange exceeds 500 thousand bidders.
Due to its high profitability, the Uzbek Commodity Exchange equities are in high demand on the stock market. In particular, the market price of the shares of the Uzbek Commodity Exchange exceeds its nominal value by more than 30 times.
At the same time, the company annually distributes over 85% of its net profit to stakeholders, 1.8 thousand of which are minority shareholders.