In mid-March the Law on exchange and exchange activities aimed at the further improvement of Uzbekistan stock exchange regulation and function entered into force.
The final version of the law includes newly added articles concerning: exchange corporate governance, exchange quotation list, registration and execution of on-exchange transaction, etc. It also gives a new definition of ‘Exchange"’- a legal entity which being the organiser of trading on the basis of set rules, at a predetermined location and at a certain time, and clarifies that the exchange can be created only in the form of a Joint Stock Company and works as a Commodity, Stock and Currency Exchange. In addition, the new members of the Exchange may be legal entities that have the right to trade in the stock exchange and to conclude deals as dealers, market makers and brokers.
Contact:
Yuliya Shibukova, Relationship Manager, Global Securities Services Russia
Yuliya.Shibukova@unicredit.ru