Yearbook 2019
Organization Overview
The republican stock exchange «Toshkent» has been formed on April 8, 1994 according to the Decree of the President of the Republic of Uzbekistan 'About measures for further deepening of economic reforms, ensuring protection of a private property and development of business' of January 21, 1994 No. 745, its activity is closely connected with the reforms undertaken in the republic and policy of creation of public joint stock companies on the basis of the privatized state enterprises.
Today the Republican stock exchange «Toshkent» is the exchange having more than 100 broker offices in all regions of the republic, the most modern equipment and the software capable to connect the clients to the auction from any office.
Mission and values
Achievement of a strategic objective requires the performance of the following tasks:
• Increase in the number of the most financial and stable companies included in official exchange listing, not less than 200 units;
• Increase in a share of an exchange turn in a total volume of the stock market and the reduction of an off-exchange turnover,
• Increase in a shares which are in free circulation by ensuring existence and availability on the stock market, first of all for a general population, a necessary resource of securities;
• Transition to electronic document flow during the processing and registration of exchange transactions on the basis of Uniform programmatically — the technical complex allowing to lower transaction expenses at commission of exchange transactions and to hold the repeated auction during one working session;
• Ensuring electronic interaction with members of the exchange and a gradual transition to the organization of trade in the Internet trading mode;
• Creation of additional mechanisms of protection of interests of investors at transactions with securities in the stock market by introduction of recommendations of the Korean stock exchange and transition to 100% deposition of money and term of payment under the perfect transaction of T + 2;
• Further increase in transparency of the stock market by transition and formation of the reports of the issuers included in official exchange listing in an electronic form and reflected in the official site of the exchange.
Republican Stock Exchange "Toshkent"
Bekzod Usmonov
Chairman of the Board
About Republican Stock Exchange "Toshkent"
Established: 8th April 1994
Chairman of the Board: Mr. Bekzod Usmonov
Address: 100107, Mustaqillik street,
Tashkent city, Uzbekistan
Email: [email protected]
Website: www.uzse.uz
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Organization Overview
First of all, I should mention that 2019 was the year of determining the ways of capital markets transformation and significant increase of interest from international financial institutions.
Despite a slight decrease in terms of value of transactions in 2019 compared to 2018, the number of transactions was almost three times more than in 2018 and reached 32 816. In addition, the corporate bond market, which has been inactive for a long time, has grown to 42.8 billion UZS as a result of 6 issuances of three banks. Moreover, based on market indicators and analysis of investors' suggestions and proposals, we have developed a new platform for the sale of state-owned assets in our official web-site uzse.uz. Also, Improving financial literacy of Uzbekistan`s citizens is one of the priority objectives of Republican stock exchange "Toshkent". In 2019, in collaboration with FEAS we conducted two-day seminar-training "Capital market capacity building program" where representatives from FEAS, MOEX, NSD of Russia, KASE, and EBRD told about opportunities of implementing best international practices in capital market of Uzbekistan.
For the first time in history, Republican stock exchange "Toshkent" together with LLC "Freedom Finance" organized "Issuer day" where representatives from Capital Market Development Agency, Republican stock exchange "Toshkent", LLC "Freedom Finance, and JSC "Qvartz" presented all necessary information about JSC "Qvartz". It should be noted that JSC "Qvartz" is the first company, which offered their shares through IPO in Uzbekistan in 2018 and in 2019, company also conduct SPO and raised 16 billion UZS.
Furthermore, specialists from Republican stock exchange "Toshkent" participated in two-day seminar organized by representatives of Istanbul Stock Exchange in their headquarter. During the seminars, experts from Istanbul Stock Exchange conducted different presentations about their activities, and how it could be implemented in Uzbekistan`s capital markets.
Regarding our future plans, I could say that right now, we are working on transformation our listing rules and requirements. Instead of current 4 categories, we are going to implement only 2 categories - "Premium" and "Standard" where in "Premium" category would be companies with high transparency and comparatively high free float. Other companies, which meet minimum requirements will be listed in "Standard" category and with increasing their free float and transparency level will be raised to "Premium" category.
Moreover, In 2019 we started to work on creating our new official web-site and hope that in 2020 we can achieve this result. Based on development of our new web-site, further we plan to implement Personal Cabinet where any user can observe activities of listed companies, their quotation and market price.