The Federation of Euro-Asian Stock Exchanges
Republican Stock Exchange "Toshkent"
72 73
About Company
Established: 8th April 1994
Address: 100107, Mustaqillik street,
Tashkent city, Uzbekistan
Contact person: Indira Khabibulina
Email: [email protected]
Website: www.uzse.uz
- Joined FEAS in 1997 -
Abdujabborov Abduazimkhuja
Acting chairman of the board
2021 was a year of expanding and deepening international cooperation. The Republican Stock Exchange «Toshkent» co-organized two International Economic Forums, at which a number of major agreements were signed, including a memorandum of cooperation between the RSE «Toshkent» and the Moscow Exchange.
In addition, during the year we continued our work and actively participated in the privatization processes taking place in the country.
In terms of stock exchange trading, we have achieved significant growth in all key indicators compared to the previous year. For example, for 2021 the number and volume of transactions grew by 98.2% and 118.03% respectively, compared to 2020. Another significant development, in our view, is the fact that last year, for the first time in the last 10 years, limited liability company bonds were included in the stock exchange's quotation list. These securities are the first in the history of the stock market to be indexed to changes in the exchange rate, which allowed investors to hedge their investments against the possible devaluation of the national currency.
The success of this campaign is the result of fundamental changes in Uzbekistan's capital market and the beginning of the activation of the debt capital market.
The pandemic that broke out 2 years ago divided the lives of the whole world into "before" and "after" and even though our market managed to survive it without any major losses, there was still some "post-covid" syndrome in 2021. The large wave of Covid-19 in Uzbekistan and the strict quarantine measures announced over the past couple of years have, in our opinion, slightly delayed the growth of stock indicators and investor activity.
One of our main objectives was to improve our exchange listing practices, taking into account global practices and adapted to the peculiarities of our market. The RSE «Toshkent» developed and approved the "Regulations on the stock exchange listing of the JSC 'Toshkent' Republican Stock Exchange" in a new version, which provides for increasing the liquidity of securities, which came into force on January 1, 2021.
The key changes envisaged by the regulation are:
- the "Regulations on the Stock Exchange Quotation List of the JSC 'Toshkent' Republican Stock Exchange" and the "Regulations on the Listing Fees of the JSC 'Toshkent' Republican Stock Exchange" were merged into one Regulation;
- the types of instruments included in the exchange quotation list were increased from 7 to 15;
- in the stock market, two main categories of Premium and Standard have been introduced instead of four;
- new disclosure requirements have been added and new forms developed for them.
Despite this, however, we still have many challenges and plans ahead which we intend to implement and continue to work on key strategic areas.
Year in review