6 February 2024 - The CEO of the Republican Stock Exchange "Toshkent" (RSE) George Paresishvili participated in Clearstream’s Global Funding and Financing (GFF) Summit in Luxembourg on 30 January - 1 February 2024. This Summit is held annually with participation of Central Securities Depositories, stock exchanges, custodian banks and other entities representing capital market infrastructure in various countries. The Summit enables participants to learn about the latest trends and developments related to capital market infrastructure, investors’ asset protection and mobility.

During the Summit George Paresishvili held separate meetings with representatives of Clearstream and custodian banks who are directly in charge of setting up a link with Uzbekistan. George spoke with them about the Presidential Decree No. 291 dated 2 September 2023 as well as the new regulatory sandbox regime dated 29 January 2024 introduced by the National Agency of Perspective Projects (the Regulator of the securities market in Uzbekistan). The goal of both documents is to enable seamless access of foreign investors to Uzbek capital market by providing the necessary legal framework, hence filling the gaps in existing legislation and regulations.

On the back of the aforementioned documents and continuous dialogue parties agreed to start the process of account opening, due diligence and testing of connectivity to the local market in Uzbekistan. This is the next important step in the process of setting up Clearstream’s link with Uzbek capital market.