Japanese, Uzbek stock exchanges establish co-op
Republican Stock Exchange of Uzbekistan "Toshkent" RSE, and the
Japanese Stock Exchange (Japan Exchange Group, JPX) signed a
Memorandum of Understanding.
The memorandum envisages cooperation between the Uzbek and Japanese
Stock Exchanges to improve the stock markets of both countries
through the exchange of best practices, specialists and information
about the markets and operation, the Uzbek side reported.
The main strategic direction of cooperation is further improvement
of the areas such as initial public offering (IPO) and underwriting
procedures, timely disclosure of information, cooperation of
listing departments, overview of the market, increasing of joint
stock companies participation in the development of the stock
market based on the experience of Japanese stock exchange and
application of IT systems.
The parties will also establish a joint working group to organize
conferences, seminars and training sessions for the purpose of
mutual study of stock markets in both countries.
"Toshkent" stock exchange was established in 1994. Its founders are
investment, brokerage and insurance companies, as well as the State
Property Management Committee of Uzbekistan.
The stock exchange organises primary placement and secondary
trading of assets and bonds of privatised companies with
approximately 370 issuers being allowed to participate in trading.
More than 100 investment institutions are members.
Total trade turnover at the stock exchange decreased by 45.4
percent in 2013 compared to the same indicator of 2012 to 93.2
billion soums.