UZEX and CME Group Discuss Cooperation Prospects
A meeting was held between Asadulla Kayumov, Chairman of the Management Board of the Uzbek Republican Commodity Exchange (UZEX), and Russell Beatty, Managing Director for the Asia-Pacific region at CME Group.
The meeting focused on expanding cooperation between the two exchanges, sharing experience in developing modern exchange trading mechanisms, and establishing a futures and other exchange-traded derivatives market in Uzbekistan.
Particular attention was paid to creating opportunities for domestic businesses to access international derivatives markets through UZEX GLOBAL, a joint venture established in cooperation with Phillip Capital, as well as developing mechanisms for effectively managing risks associated with price volatility, including hedging instruments for commodity market participants.
In this context, the parties discussed opportunities to use CME Group futures contracts for key commodities such as wheat, oil and gold, as well as prospects for providing domestic businesses with access to these instruments.
The meeting also included an exchange of views on enhancing the professional skills of UZEX specialists, organizing regular training sessions and launching experience-sharing programs. The effective use of CME Group’s international experience and expertise was highlighted as one of the key areas of cooperation.
Following the meeting, the parties agreed to further develop their cooperation on a long-term and strategic basis and continue working together to establish modern infrastructure and strengthen the professional capacity of Uzbekistan’s derivatives market.
