BAKU, Azerbaijan, Sept. 20
By Fakhri Vakilov – Trend:
The growing activity of the Moscow Exchange in the financial market of Uzbekistan will create conditions for the emergence of a liquid exchange market “Russian ruble - Uzbek soum”, Sergei Danov, director for the integration of capital markets of the EAEU of the Moscow Exchange, told Trend.
“We expect that issuers from Uzbekistan will be able to enter the Russian capital market over time, which will benefit all the markets,” he said.
It was recently reported that the Uzbek Republican Currency Exchange and the Moscow Exchange agreed on further measures to develop bilateral cooperation.
Danov noted that the memorandum of cooperation signed in 2019 between the Uzbek Republican Currency Exchange and the Moscow Exchange provides for the exchange of experience with participants in exchange markets, the development of foreign exchange markets of the two countries, including the study of the possibility of organizing trades in the Russian rubles - Uzbek Soum currency pair and the organization of trading and clearing link in the foreign exchange market for this pair.
Within the framework of cooperation, the Moscow Exchange shares its expertise in the field of current market trends, experience in the development of exchange markets, interaction with professional market participants and the development of regulation.
“The development of exchange and financial markets in neighboring countries will lead to an increase in demand for exchange instruments and will strengthen market ties between our countries,” he added.
PJSC Moscow Exchange is the largest Russian exchange holding. The exchange was established in 2011 as a result of the merger of the Moscow Interbank Currency Exchange and OJSC RTS Stock Exchange.
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