Tashkent, Uzbekistan (UzDaily.com) -- For the first time, speculation and hedging operations are carried out on the currency exchange of the Republic of Uzbekistan by concluding purchase and sale transactions with currency futures contracts.

This innovation in the foreign exchange market was noted in a presentation on the topic “Peculiarities of introducing foreign exchange futures designed to hedge foreign exchange risks in the trading system of the currency exchange of the Republic of Uzbekistan, establishing the activities of a mobile application and liquidity providers of UzRCE”, organized jointly with the Central Bank and UzRCE.

At the same time, currency futures contracts, important aspects of their implementation, and the convenience of the UZS mobile GB mobile application for market participants were discussed in detail at the event.

A currency futures contract is a contract for the sale or purchase of a certain amount of currency (underlying asset) on a certain day in the future at an agreed price on the date of the transaction.

In turn, the introduction of currency futures contracts creates opportunities for the emergence of new instruments in the foreign exchange market, as well as mitigating the impact of external shocks that have a negative impact on the financial position of enterprises.

For greater convenience of participants in currency futures contracts, a mobile application "UZS mobile GB" has been launched.

In this mobile application, it is possible to view information about the parameters of auctions in the government securities market, cancel entered orders, conclude transactions for the sale or purchase of government securities, make REPO transactions and view their results, receive exchange information - quotes, exchange news and analytical materials or other exchange materials related to this market.

As part of the event, contracts were signed between provider banks and UzRCE, as well as an award ceremony for the winners of the tournament for test trading in futures contracts.