Tashkent, Uzbekistan (UzDaily.com) -- The status of a market maker was assigned to the primary dealers of the government securities market (GS) - JSCB “Kapitalbank”, JSC “Asakabank”, JSCB “Ipotekabank” and JSCB “Business Development Bank” after signing the relevant agreements with the UZCE.

These commercial banks will start performing the functions of a market maker from March 1 of this year.

Currently, the activities of the market maker in the GS market are carried out by primary dealers - JSC “ASIA ALLIANCE BANK”, JSC “Uzpromstroybank”, JSCB “Ipak Yuli”, JSC “Turonbank” and “Halyk Bank”.

According to the approved Program, market makers commit themselves to providing exchange markets (the secondary market of GS and the REPO market) with liquidity by forming quotes for buying and selling.

Also, the Program provides for two types of remuneration to the market maker from the UZCE provided that they meet the established requirements. 

The first type of remuneration is calculated from the amount of commission fees paid by the market maker and his counterparty to the UZCE, the second one is a fixed amount (paid if a sufficient volume of concluded passive transactions is closed within the reporting month).

Let us remind you that the activity of the market maker was first introduced on the UZCE’s currency market on 4 October 2021.