BAKU, Azerbaijan, Sept. 29
By Fakhri Vakilov – Trend:
The Kazakhstan Stock Exchange (KASE) and the Uzbek Republican Currency Exchange (UZCE) have signed a memorandum of mutual cooperation, Trend reports citing Kursiv.uz.
The signing ceremony took place on September 28 in Tashkent.
KASE and UZCE plan to provide professional participants with access to exchange trading on both sides.
The memorandum implies the exchange of experience in organizing exchange trading and improving information and communication technologies. It is planned to conduct joint marketing research and monitoring, exchange information, and analytical materials on the economic situation in the currency and stock markets of KASE and UZCE.
Uzbek Republican Currency Exchange was established on May 12, 1992, in order to ensure the protection of the economic interests of the country, prompt response to the situation in the internal and external foreign exchange markets.
UZCE is the only multifunctional exchange in the country - the organizer of exchange trading for the purchase and sale of foreign currency, government securities, financial derivatives (derivatives), and other exchange transactions related to them, as well as the interbank money market, credit and deposit auctions of the Central Bank of Uzbekistan with commercial banks.
The Kazakhstan Interbank Currency Exchange was established on November 17, 1993, and was assigned the role of the operator of foreign currency trading; a few years later it was renamed The Kazakhstan Stock Exchange.
Since the moment of its foundation, KASE has been the only exchange in Kazakhstan operating the stock and currency markets, an integral part of the financial market's infrastructure and it occupies an important position in the country's economy.
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