Capital Market Profile

Laws and Regulation
The country has established full-fledged legal framework in the industry
- Law "On Joint-Stock Companies and Protection of Shareholders' Rights" (New version, 2014)
- Law “On Securities Market” (New version, 2015)
- The Corporate Governance Code (2015)
- 60+ Rules and Regulations

Regulatory Agency

The regulator is Center for Coordination and Development of Securities Market (CCDSM) with head office in Tashkent and branches in all 12 regions

Tashkent Stock Exchange

Tashkent Stock Exchange (TSE) was established in April 1994 with 13 brokerage firms only. Now 46 brokerage firms operates at the TSE.
In 2012 the TSE and Korea Exchange (KRX) signed the agreement on development new software for trading, settlement and depositary system. According to the agreement, KRX became shareholder of TSE

Central Securities Depository

Central Securities Depository (CSD) was established in May 1999. CSD provides depository, settlement (bank account), and related services to securities/financial market players. CSD together with National Settlement Depository (Russia) assigns International Securities Identification Number (ISIN) and Classification of Financial Instrument (CFI) to securities or other financial instruments issued/registered in Uzbekistan

Professional Players

As of January 1, 2017 total 76 professional players with multiple licenses operating in the market. Out of 128 issued licenses, most of them are licenses of Investment Intermediary or Broker/Dealer (46), Investment Advisory (41) and Asset Management (29)