The stock market of Uzbekistan has integrated its IT infrastructure with the Bloomberg platform, marking a step towards enhancing transparency and attracting international investors, National Agency for Prospective Projects (NAPP) reported.
The integration, led by the Stock Market Information and Resource Center, enables real-time access to stock and bond quotes, order books, and key market indicators from the Republican Stock Exchange "Tashkent" (RSE "Tashkent") for Bloomberg users worldwide. This initiative not only increases market transparency but also improves investor confidence in Uzbekistan's capital markets.
Vyacheslav Pak, First Deputy Director of NAPP, emphasized the benefits of the integration, stating, "This will help us overcome barriers and create a dynamic, sustainable, and competitive capital market."
The move is expected to strengthen the Uzbek stock market's position, attracting more foreign investments and expanding its global reach.
Georgiy Paresishvili, Chairman of RSE "Tashkent," noted that the integration comes at a time of growing international investor interest in Uzbekistan.
"Data integration with Bloomberg will serve as an important tool in attracting foreign investment," he said.
The IT system implemented as part of this integration allows full access to market data, scalability for adding new financial instruments, and transparent administration mechanisms that align with international standards. The NAPP sees the integration as an opportunity to boost liquidity, expand the international participant base, and accelerate Uzbekistan's integration into global financial markets.
Established 30 years ago, RSE "Tashkent" plays a pivotal role in Uzbekistan’s capital market development, enabling local businesses to raise funds by issuing stocks and bonds. As of September 2024, 103 companies are listed on the exchange, with a market capitalization representing 21% of the country’s GDP. The exchange witnessed a five-fold increase in trading volume in 2023 compared to 2022, driven by strong retail investor demand and the growing use of mobile trading applications.
"We’ve seen strong interest from international investors. By making our market data available to Bloomberg's global users, we are making it easier for investors to access Uzbek companies, facilitating timely investment decisions," said George Paresishvili, CEO of RSE "Tashkent."
David Tamburelli, Bloomberg's Global Head of Content Acquisition, expressed enthusiasm for the development, stating;
“RSE is the only exchange in Uzbekistan where stocks and local bonds are traded. We’re excited to offer this new data to our clients and support the growth of Uzbekistan’s capital markets."
RSE’s market data will be available via Bloomberg’s Data License and real-time market data feed, B-PIPE, further expanding its global reach.
The Republican Stock Exchange "Toshkent" is Uzbekistan’s only stock exchange, established in 1994 and regulated by the National Agency for Prospective Projects of the Republic of Uzbekistan. It provides a platform for local businesses to raise capital by listing shares and bonds and supports secondary market trading through dedicated portals and mobile applications. As of August 2024, the exchange has 105 listed stocks and bonds, with around 50,000 retail investors actively trading via mobile applications.
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