Baku, Azerbaijan, July 24
By Fakhri Vakilov - Trend:
NASDAQ will help Uzbekistan to modernize local exchanges and develop the local capital market as a whole, Trend reports with reference to the Ministry of Foreign Affairs of Uzbekistan.
During the visit of the delegation of Uzbekistan in New York, meetings were held with representatives of the NASDAQ and NYSE stock exchanges.
Negotiations were held at NASDAQ, one of the world's largest stock exchanges, with the Vice Chairman of the stock exchange, Meyer “Sandy” Frucher, and Vice-President Joel Kazis.
The main factors that should ensure the development of the capital market in Uzbekistan, according to the vice chairman of NASDAQ, are the diversification of stock trading instruments and the security of the stock market infrastructure. These two factors are primarily taken into account by investors when entering foreign markets.
Representatives of the US Stock Exchange expressed willingness to promote the introduction of smart technologies to monitor and study the state of stock markets, modernize the technological potential of Uzbekistan’s stock exchanges, and provide advice on how Uzbek companies enter international securities markets.
Following the talks, a Memorandum of Understanding was signed between Republican Stock Exchange “Toshkent” and NASDAQ.
NASDAQ - founded in 1971, the American stock exchange specializes in shares of high-tech companies. More than 3,900 companies with a market capitalization of more than $10 trillion are selling on the stock exchange.
In honor of the Uzbek delegation, for the first time in history, an inscription appeared on the main electronic display of the head office of the American stock exchange on the central square of business Manhattan - "NASDAQ welcomes the Agency for the Development of the Capital Market of Uzbekistan".
At the main and oldest stock exchange of the USA - the New York Stock Exchange (NYSE), a meeting was held with the Vice Chairman and Chief Commercial Officer of the Stock Exchange John Tuttle.
The main subject of the talks was cooperation on the development of Uzbekistan’s capital market and a discussion of the prospects for the state companies and privatized enterprises from the most profitable and large corporations to be brought to the US stock market.
Founded in 1792, NYSE is the largest in the world in terms of turnover of the US Stock Exchange. It defines the world-famous Dow Jones for industrial stocks. Shares of more than 4,000 companies with a market capitalization of more than $ 20 trillion are traded on the stock exchange.
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