The Ministry of Economy and Finance of the Republic of Uzbekistan held a working meeting with the delegation of NASDAQ, one of the largest exchange platforms in the world. The delegation was headed by Executive Vice-Chairman of the company Edward Stanley Knight. From the Uzbek side, the meeting was attended by First Deputy Minister of Economy and Finance Ilkhom Norkulov, Deputy Minister Ilkhomjon Umurzakov, Chairman of the Board of the Tashkent Stock Exchange Giorgi Paresishvili, as well as representatives of relevant structures.
The topic of the meeting is technology transfer and infrastructure strengthening
The main focus of the negotiations was on the development of the stock market of Uzbekistan, in particular, the modernization of infrastructure, technology transfer and the introduction of international standards for trading in financial instruments. NASDAQ representatives shared their experience in organizing trades on global platforms, including security practices, speed of operations, and investor access to key markets.
The parties also discussed the potential of creating an integrated trading platform that will allow conducting transactions with government bonds, shares and derivatives of financial instruments within a single technological ecosystem. Additional attention was paid to improving liquidity, managing risks, and expanding the participation of foreign investors.
NASDAQ expresses readiness for technology partnership
As noted by Edward Knight, NASDAQ's technology solutions are currently used on more than 50 exchange platforms around the world, including state and regional markets. Representatives of the company highly appreciated the potential of Uzbekistan as a developing financial center and confirmed their interest in building a long-term technological partnership.
Among the proposed areas of cooperation are the introduction of exchange liquidity management platforms, the development of the digital architecture of the stock market, as well as support in creating conditions for algorithmic trading and automated clearing mechanisms.
Results of negotiations and further steps
As a result of the meeting, the parties came to an agreement on building strategic cooperation aimed at::
- accelerating the digitalization of the financial market in Uzbekistan;
- improving the investment attractiveness and sustainability of the exchange's infrastructure;
- expanding access to international investors;
- development of new financial instruments on the basis of the Tashkent Stock Exchange.
It is expected that the agreements reached will form the basis of a roadmap for the technological development of the country's stock market with the participation of international partners.
Thus, the meeting with NASDAQ was an important step in strengthening the role of Uzbekistan on the global investment map and confirming the course towards institutional modernization of the country's financial system.
