Tashkent, Uzbekistan (UzDaily.com) -- On 17 January 2023, the Ministry of Economy and Finance, the Uzbekistan Stock Exchange and the Central Securities Depository held meetings with a Clearstream delegation headed by the Head of Global Markets Jan Willems.

The meetings were attended by heads and responsible specialists of the Ministry of Economy and Finance, the Uzbekistan Stock Exchange, the Central Securities Depository, commercial banks - primary dealers in the government securities market, as well as members of the exchange (brokerage companies).

The purpose of these meetings with Clearstream is to facilitate the access of international portfolio investors to the local securities market of Uzbekistan by creating a custodial link with Clearstream.

Most foreign investors hold securities in local markets through global custodian banks or international central depositories (ICSDs) such as Clearstream. Uzbekistan needs the participation of foreign investors in its stock market in order to increase its liquidity and attractiveness, introduce new financial instruments and enable local companies to raise capital for their growth and create new jobs through an initial public offering (IPO) of their shares or bonds on the Republican Stock Exchange. exchange "Toshkent".

This can be achieved by establishing links with global custodian banks and international central depositories, which requires the modernization of Uzbekistan’s capital market infrastructure and certain legislative changes.

During the meetings, issues related to practical measures to be taken to create favorable conditions for foreign investors and their partner, the international depository Clearstream, were discussed. The parties agreed to closely cooperate and continue active work in this direction.