On 17 September 2026, the official launch ceremony of UZEX GLOBAL, a joint venture established by the Uzbek Commodity Exchange (UZEX) and international investment group Phillip Capital (Singapore), was held at the Hyatt Regency Tashkent hotel. The joint venture was established in accordance with Resolution No. 82 of the Cabinet of Ministers of the Republic of Uzbekistan dated 27 February 2026, “On Additional Measures to Ensure Effective Protection Against Financial Risks During Periods of Price Volatility.”

The ceremony was attended by representatives of government authorities, local exchanges and commercial banks, regulatory bodies, major companies and business communities, as well as executives and experts from leading international derivatives exchanges and financial institutions.

The event featured congratulatory remarks from Asadulla Qayumov, Chairman of the Management Board of UZEX; Lim Hua Min, Chairman of the Management Board of Phillip Capital; and Olimjon Jumaev, Director of the Center for Competition Policy and Consumer Rights Studies under the Committee for Development of Competition and Protection of Consumer Rights of the Republic of Uzbekistan.

In connection with the launch of UZEX GLOBAL, congratulatory messages were sent by representatives of CME Group, ICE, LME, JPX, SGX, Bursa Malaysia, ICDX and JFX.

In their remarks, international guests highly praised Uzbekistan’s ongoing economic reforms and the development of exchange trading, emphasizing the importance of expanding opportunities for local businesses to access global exchange markets and use modern instruments to manage risks associated with price volatility.

As noted during the event, Uzbek businesses are gaining access for the first time to a mechanism that enables them to participate in international commodity futures trading.

The implementation of this project has been supported by economic reforms led by President of the Republic of Uzbekistan Shavkat Mirziyoyev, aimed at developing modern market infrastructure, expanding international economic cooperation and increasing the competitiveness of local businesses.

The main objective of UZEX GLOBAL is to provide local businesses, including manufacturers, processors, exporters and importers, with access to leading international commodity derivatives markets and the opportunity to use a regulated mechanism for managing risks associated with price volatility.

The combination of Phillip Capital’s international expertise and UZEX’s experience provides a strong foundation for introducing modern exchange solutions and international best practices in Uzbekistan.

Through UZEX GLOBAL, local participants are gaining access for the first time to futures contracts based on copper, wheat, cotton, oil, gold and other commodities traded on leading international exchanges, including CME Group, ICE, LME, JPX, SGX and others.

One of the key areas of UZEX GLOBAL’s activities is the development of hedging opportunities to manage risks associated with price volatility. This will allow companies to manage risks arising from commodity price fluctuations more effectively and ensure greater stability of their financial results.

This, in turn, will create more favorable conditions for long-term planning, investment projects, expansion of production capacity and the development of foreign economic activity.

The operation of UZEX GLOBAL in Uzbekistan will enable clients to receive professional advisory services and operational support, keep client funds separately, ensure transaction transparency and strictly follow established risk-management procedures.

At the same time, the project will contribute to improving the financial literacy of market participants, as well as developing the professional knowledge and skills of local specialists in futures trading, hedging, clearing and risk management.

The establishment of UZEX GLOBAL is part of the Uzbek Commodity Exchange’s strategy to gradually introduce modern exchange-trading instruments and develop futures trading.

The technological foundation of the project is the integration of the international Phillip Nova trading platform with UZEX’s trading and clearing infrastructure. Based on this integration, the UZEX GLOBAL system was developed and tested.

As part of the event, UZEX management held bilateral meetings with representatives of international derivatives exchanges. The meetings focused on prospects for further expanding cooperation between exchanges and exchanging experience in the development of modern exchange-trading mechanisms.

The launch of UZEX GLOBAL marks a new stage in the development of exchange trading in Uzbekistan, creating opportunities for local businesses to gain systematic access to international commodity futures markets. The project will contribute to strengthening the resilience of local businesses, increasing the competitiveness of companies and deepening the integration of New Uzbekistan into the global economy.

Source: DEPARTMENT OF MASS COMMUNICATIONS AND FOREIGN ECONOMIC ACTIVITY