About Company
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The Federation of Euro-Asian Stock Exchanges
Uzbek Commodity Exchange
Established: 1994
Address: 100090, Tashkent city, Yakkasaray
district, Bobur street 77
Contact person: Hikmat Tillaboev
Email: [email protected]
Website: uzex.uz
- Joined FEAS in 2022 -
Ziyoviddin Badriddinov
Chairman of the board
Year in review
The Uzbek Commodity Exchange celebrates its 30th anniversary this year.
Over the past period, UZEX has come a long way in building a true free market infrastructure, reaching new heights in the industry of exchange trading and e-commerce. Initially, UZEX provided local business entities with free access to commodities to ensure market pricing and its transparency, as well as guaranteeing the execution of transactions.
In addition, UZEX launched B2B and B2C marketplaces for all commodities, including cherishing car plates and phone numbers. In the early of 2000, exchange trading of UZEX transited from open outcry to electronic trading and implemented a new clearing system. Subsequently, the exchange has launched export-import trading platform and became an operator of public procurement in Uzbekistan.
Three decades of transparent market and innovation have made the company what it is today – an integral part of the national economy.
For the last 7 years, the annual transactions volume of UZEX has increased 12 times and amounted 14 billion USD, which corresponds to about 15% of Uzbekistan's GDP. Meanwhile, the number of customers of the exchange exceeded 500 thousand bidders. The exchange performs high financial results every year, which reflects the stability and the performance of the company. In particular, at the end of 2023, the exchange's net profit amounted about 20 million USD, 8 times higher than in 2018.
«Fitch Ratings» affirmed the Uzbek Commodity Exchange at "B" with stable outlook last year. Meanwhile, «ERNST & YOUNG» conducts the annual audit of the UZEX financial statements. Due to its high profitability, the company equities are in high demand and rank as "Premium" on stock market of Uzbekistan. 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. Over 1,700 brokerage companies
and more than 3,700 traders operate at these branches and foreign trading pits. Gasoline, diesel, propane, cement, cotton, ferrous and non-ferrous metals, precious metals, polyethylene and polypropylene, fertilizers, sugar, grain, flour, vegetable oil, livestock fodder and other commodities traded at UZEX. The list of traded commodities at UZEX expanded last year. As part of agricultural reforms in Uzbekistan, local farmers for the first time started trading raw cotton at the exchange. This new market serves as a starting point to a global benchmark for Uzbek cotton.
In 2023, the International Renewable Energy Certificates (I-REC) approved the Ministry of Economy and Finance of the Republic of Uzbekistan as a national issuer of green energy certificates. Consequently, the Uzbek Commodity Exchange launched a “green energy section”, designed for trading of green energy certificates. Uzbekhydroenergo JSC has already sold over 2,000 certificates in this section of the exchange.
According to the implemented procedure, one green energy certificate certifies the production of 1000 kWh of electricity using renewable energy. Besides, the company management is focusing on establishing business contacts with foreign partners and developing cooperation with leading stock and commodity exchanges of the world.
UZEX established business contacts with the Chicago Mercantile Exchange (CME Group), Intercontinental Exchange (ICE), NASDAQ, Dalian Commodity Exchange (DCE), Dubai Gold and Commodities Exchange (DGCX), Pakistan Mercantile Exchange (PMEX), Bursa Malaysia, Singapore Exchange (SGX Group) and Istanbul Energy Exchange (EXIST).
In addition, the cooperation strengthened with the Federation of European and Asian Stock Exchanges (FEAS) and the Association of Futures Markets (AFM). The Company’s business strategy is to enhance shareholder value by achieving key objectives, including maintaining high standards of corporate governance, expanding traded commodities, developing derivatives, enhancing business productivity leveraging technology and through streamlined operations.