Uzbek Republican Currency Exchange (UzRCE) introduced an electronic trading and depository platform, through which the organization and conduct of the initial placement and secondary circulation of government securities, clearing and settlement of transactions on concluded transactions, as well as custody and accounting of rights to government securities are carried out.
Government securities (GS) of the Republic of Uzbekistan include:
- coupon and discount treasury bonds and bonds issued by the Ministry of Finance of the Republic of Uzbekistan in non-documentary form which are placed among commercial banks and legal entities - residents of the Republic of Uzbekistan
- securities of the Central Bank of the Republic of Uzbekistan issued in electronic form and placed among commercial banks.
Placement of government securities is carried out using the simple auction method.
Secondary circulation of government securities is carried out at the order-driven market.
Organization and conduct of trades in government securities are regulated by the "Rules for trades in government securities at the Uzbek republican currency exchange" and "Rules for trades in bonds of the Central Bank of the Republic of Uzbekistan at the Uzbek republican currency exchange".
All transactions on the handling of government securities are carried out by dealers authorized to carry out transactions on the basis of agreements with the Central Bank and UzRCE.
In order to provide additional trading opportunities for participants in the government securities market, the UzRCE also introduced mechanisms for direct and inter-dealer REPO transactions with government securities, which are carried out in accordance with the "Rules for the conclusion and execution of REPO transactions with government securities of the Republic of Uzbekistan at the Uzbek republican currency exchange”.