Page 33 - 2022 - annual report

MARKETS OVERVIEW

In 2022, in order to organize new exchange for operations with currency pairs Russian ruble/
markets of UZCE, ensure a stable growth in trading soum and Chinese yuan/soum.
volumes, measures were taken to introduce In the reporting year, the growth in the
modern, advanced exchange mechanisms as well volume of exchange trading on UZCE reached its
as information and communication technologies maximum value. The total volume of trading on
based on international best practices.
UZCE reached 706.79 trillion soums and exceeded
The reporting year was marked by further the figure of the previous period (389.21 trillion
diversification of UZCE exchange market and soums) by 81.6%.
ended with positive results in all exchange In the context of UZCE markets, the volume of
segments. The volume of transactions in UZCE trading in 2022 compared to 2021 in the foreign
markets reached significantly high levels, which exchange market decreased by 55.23%, while
was the result of an increase in the activity of at the same time it increased by 92.75% in the
trading participants in the reporting year.
money market, and in GS market increased by 3
The development of the trading and software times, mainly due to an increase in the volume of
complex made it possible to modernize the auctions in the primary market and an increase in
technology for conducting operations in all turnover in the secondary market.
exchange markets, as well as the settlement and Over the past few years, measures to diversify
clearing process.
the exchange instruments of the UZCE have made
Simultaneously with improving the quality of adjustments to the share of exchange markets in
service for trading participants and developing the total volume of exchange trading in 2022.
the infrastructure of the exchange market, So, if in 2021 the share of the foreign exchange
UZCE continued to improve its tariff policy in the market in the total volume was more than 56%,
direction of stimulating the growth of the volume then by the end of 2022 this indicator decreased
of liquidity.
to 47%. In the context of other exchange markets,
In order to increase the attractiveness of there was a tendency to increase their share in the
participation in exchange trading and create total trading volume. The share of money market
additional amenities for trading participants, it instruments in 2022 accounted for approximately
was decided from August 1 to December 31, 2022, 38% of the total trading volume, the same indicator
not to charge commission on interbank currency for the GS market was about 13%.
swap transactions, REPO transactions, as well as

The share of exchange markets in 2021-2022

56.00% ⏹ 2021 2022 ⏹ 47.87%

7.93% ⏹
⏹ 13.84%
36.07% ⏹ 389,21 706,79
trln. soums trln. soums
⏹ 38.29%

⚪ forex market ⚪ money market ⚪ debt market

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