investment opportunities on the securities market of uzbekistan 5 april 2012
TRANSCRIPT
INVESTMENT INVESTMENT OPPORTUNITIES ON THE OPPORTUNITIES ON THE SECURITIES MARKET OF SECURITIES MARKET OF
UZBEKISTANUZBEKISTAN5 April 2012
CONTENTS
LEGISLATION & REGULATIONⅠ
SECURITIES & MARKET PARTICIPANTSⅡ
CURRENT TRENDS & PERSPECTIVESⅢ
- To realize a state policy in such spheres as development, control and coordination of the securities market in Uzbekistan.
- To maintain a unified register of securities issues and the list of market participants, regulate circulation of securities, professional activity on securities market.
- To enforce securities market legislation.
- To adopt legislation providing necessary legal conditions for issuing and effective circulation of securities.
- To protect investors’ rights, widely inform public about securities market and its participants.
LEGISLATION & REGULATION
The main securities market regulator is a Center for Coordination The main securities market regulator is a Center for Coordination and Control over Functioning of the Securities Market (CSM). The and Control over Functioning of the Securities Market (CSM). The CSM’s core functions areCSM’s core functions are::
LEGISLATION & REGULATION
02.09.1993y. №918-XII «On Securities and Stock Exchange»
«On Mechanism of Functioning of Securities Market»
«On Depositories Activity on Securities Market»
«On Protection of Investors Rights on Securities Market»
Law «On Securities Market»
This legislative act provided for unification and improvement of securities market legislation in line with international standards:
25.04.1996y. №218-I
29.08.1998y. №672-I
30.08.2001y. №262-II
(1) establish information disclosure obligation for all securities market participants;
(2) remove double recording practices on securities;
(3) set dematerialization requirement for issue of shares and corporate bonds;
(4) introduce central registrar system;
(5) liberalize securities market participants activity.
Adoption of Law “On securities market” allowed to:Adoption of Law “On securities market” allowed to:
LEGISLATION & REGULATION
SECURITIES & MARKET PARTICIPANTS
Two-tier Depository System (Central Securities Depository and 32 second level depositories);
Clearing and Settlement Systems (clearing chamber «Elsis-Kliring»);
Securities trading organizers (stock exchange and 2 OTC trading platforms);
Professional participants of securities market.
SECURITIES & MARKET PARTICIPANTS
SECURITIES & MARKET PARTICIPANTS
стр. 6
SECURITIES & MARKET PARTICIPANTS
SECURITIES & MARKET PARTICIPANTS
individuals
individuals
Stockholders by type Stock ownership by type
CURRENT TRENDS & PERSPECTIVES
Primary market
CURRENT TRENDS & PERSPECTIVES
Secondary market
CURRENT TRENDS & PERSPECTIVES
2010 Change
Joint stock companies
Stockholders
Securities volume
Investment institutions
Stock exchange trading
1 309 ед.
UZS 213.1 bn
6,6%
3.3 times
2011
1 402 ед.
UZS 64.4 bn
130
10,9%
118 10,1%
0,6%1,44 mln 1,45 mln
UZS 7.6 trlnUZS 6.8 trln
Avg shareholder capital UZS 4.9 bn UZS 5.8 bn 18,8%
CURRENT TRENDS & PERSPECTIVES
Key market figures:
CURRENT TRENDS & PERSPECTIVES
Stock exchange trading (UZS bn)
410
19 20
89
100
2006 год 2007 год 2008 год 2009 год 2010 год 2011 год
CURRENT TRENDS & PERSPECTIVES
Number of listed companies on the exchange