On September 18 of this year, a media training session was held in Fergana for journalists and entrepreneurs on the topic: “The Role of the Uzbek Commodity Exchange in Introducing Market Principles and Ensuring Transparency in Commodity Markets.”

The main objective of the event was to explain the role of exchange mechanisms in commodity markets and to highlight the essence and importance of ongoing reforms in this area, using the Fergana branch of the Uzbek Commodity Exchange (UZEX) as an example.

As noted during the event, all trading at the UZEX is conducted based on transparency, equal access, and market principles, with the exchange guaranteeing the fulfillment of concluded transactions. This contributes to price formation based on supply and demand and promotes a competitive market environment.

Transparency of trading and settlement procedures on the exchange’s trading platform and electronic commerce systems is ensured through mass media, the official website, the exchange's social media pages, advanced IT technologies, and other resources.

In particular, the public and entrepreneurs have free access to information on product volumes listed for exchange trading, exchange quotations, public procurement announcements and results, and can even monitor auctions in real time.

The exchange has also created an effective feedback and public control system. Every day, the exchange's Call Center receives more than 500 calls and about 150 online requests on issues related to exchange activities.

For participation in electronic trading, citizens and entrepreneurs can contact the Telegram bot: @uzexfeedbackbot. In cases of corruption or misconduct, they may report through @uzexanticorruptionbot.

Thanks to the advantages of exchange-based mechanisms, the range of products sold through the exchange continues to expand.

During the media training, media representatives and entrepreneurs were introduced to the daily operations of the branch, including the activities of the trading department, clearing chamber, and e-commerce division.

In addition to the central trading hall, the Fergana branch of the UZEX operates 46 trading floors, 133 brokerage offices, and around 420 traders.

Since the beginning of 2025, deals worth UZS 6.0 trillion have been concluded at the branch, with 93% accounted for by exchange trading and the remainder through e-commerce systems.

The event featured presentations for the media and entrepreneurs, explaining the latest government decisions regarding the exchange’s operations and the innovations introduced at the UZEX.

As part of the implementation of Resolution No. 570 of the Cabinet of Ministers of the Republic of Uzbekistan dated September 12, 2024, a bilateral auction mechanism was launched on the UZEX to provide additional convenience for market participants.

The bilateral auction is a trading mode that ensures more efficient price discovery by enabling real-time competition between buyers and sellers, resulting in prices formed at the equilibrium of supply and demand.

This new trading mode aims to increase the efficiency of exchange operations and foster a more competitive market environment.

In accordance with Resolution No. 621 of the Cabinet of Ministers of the Republic of Uzbekistan dated October 2, 2024, “On Additional Measures to Organize the activities of the Modern Agricultural Complexes Based on Advanced Exchange Mechanisms,” a new electronic trading platform — UZEX Agro — was launched on the UZEX.

The UZEX Agro platform is designed for the open-market sale of agricultural products grown by farmers and household producers at market-based prices.

As a result of a national competition held by the National Association of Investment Institutions of Uzbekistan, the UZEX was recognized as the “Best in Corporate Governance” in 2024.

Effective corporate governance at the Exchange ensures a balanced relationship between managers and shareholders, optimizes business processes, enhances the transparency of the company’s activities, and contributes to the stable and sustainable development of the organization.

In order to optimize business processes and improve operational efficiency, the Uzbek Commodity Exchange has started implementing artificial intelligence (AI) services. In particular, an AI Chat-bot has been introduced to support users of the Exchange’s electronic government procurement system.

Authorized users of the platform xarid.uzex.uz can now receive real-time answers and technical assistance without contacting the Call Center.

In the future, it is planned to expand the functionality of the AI Chat-bot, introduce new AI-based services, and integrate them into other electronic trading platforms of the Exchange.

During the media training, journalists and entrepreneurs were also able to observe the live process of electronic exchange trading in the main trading hall. Exchange brokers presented the procedures for opening a brokerage office and explained the daily workflow of a trader.

Finally, specialists from the exchange responded to questions from journalists and entrepreneurs.

 

Source: DEPARTMENT OF MASS COMMUNICATIONS AND FOREIGN ECONOMIC ACTIVITY