Uzbek Commodity and Raw Materials Exchange simplifies trade rules
BAKU, Azerbaijan, May 6
By Ilkin Seyfaddini – Trend:
The Uzbek Republican Commodity and Raw Materials Exchange has made changes and additions to the rules of exchange trade and the rules of settlement and clearing operations, Trend reports with reference to UzEx.
"Changes have been made in order to simplify the participation of sellers and buyers in exchange trading of Uzbek Republican Commodity and Raw Materials Exchange. As well as, in order to intensify foreign trade operations of the exchange, including increasing the volume of exports through the exchange, changes and additions have been made to the rules of exchange trade and rules of settlement and clearing operations," said the message.
In accordance with the amendments, the procedure of accreditation of the Exchange's clients is carried out with the use of electronic digital signature. An exception is made by some organizations that do not have electronic digital signature.
Additional documents, such as an application, state registration of a legal entity and charter, are not required for accreditation the members, the message said.
Also, in order to increase transparency and security of exchange trades, the responsibility of registrars of trading platforms and brokers of branches, as well as exchange members and traders has increased, the message said.
Amendments and additions to the rules of exchange trade and the rules of settlement and clearing operations will come into force on May 10, 2020.
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