BAKU, Azerbaijan, January 18. Clearstream, a financial services company from Luxembourg that specializes in the settlement of securities transactions, pledged to help the stock market of Uzbekistan in attracting foreign investors, Trend reports via the exchange.
The matter was discussed between representatives of Clearstream and representatives of the Ministry of Economy and Finance, the Stock Exchange, the Central Depository, commercial banks, as well as brokerage companies.
During the meeting, the parties emphasized the importance of creating a custody link between Uzbek Republican Commodity and Raw Materials Exchange and Clearstream in order to facilitate the access of investors from other countries to the stock market of Uzbekistan.
Furthermore, the majority of investors use to keep their securities in foreign markets through global custodian banks or in international central depositories such as Clearstream. In this regard, Uzbekistan needs to implement new financial instruments, as well as establish ties with global custodian banks and international central depositories. These measures will possibly increase the liquidity on the local stock exchange.
Custodial services provide the storage of valuable property of a person provided in accordance with his written permission or application. The valuable property includes stocks, bonds, money, securities, and sometimes precious metals.