Active participation of the Moscow Stock Exchange in the Uzbek financial market to create liquidity in foreign currency
BAKOU, Azerbaijan, October 9
By Fakhri Vakilov – Trend:
The growing activity of the Moscow Stock Exchange in the financial market of Uzbekistan will create the conditions for the emergence of a liquid foreign exchange market “Russian ruble – Uzbek Soum”, Sergei Danov, director of market integration EAEU capital of the Moscow Stock Exchange, Trend says.
“We expect issuers from Uzbekistan to be able to enter the Russian capital market over time, which will benefit all markets,” he said.
It was recently reported that the Republican Uzbek Bureau de Change and the Moscow Bureau of Exchange have agreed on further measures to develop bilateral cooperation.
Danov noted that the cooperation protocol signed in 2019 between the Republican Uzbek Stock Exchange and the Moscow Stock Exchange provides for the exchange of experiences with participants in the foreign exchange markets, the development of the foreign exchange markets of the two countries, including the study of the possibility of the organization of transactions on the currency pair Russian Rubles – Uzbek Soum and the organization of the trading and clearing link in the foreign exchange market for this pair.
Within the framework of the cooperation, the Moscow Stock Exchange shares its expertise in the field of current market trends, its experience in the development of foreign exchange markets, interaction with professional market players and regulatory development.
“The development of foreign exchange and financial markets in neighboring countries will lead to an increase in demand for foreign exchange instruments and strengthen trade links between our countries,” he added.
PJSC Moscow Exchange is the largest Russian stock exchange holding company. The exchange was established in 2011 as a result of the merger of the Moscow Interbank Currency Exchange and the OJSC RTS Exchange.
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