Speculation and hedging operations are being performed at the currency exchange (UzRCE) for the first time by means of purchase and sale transactions with currency futures contracts.
According to the Central Bank, this innovation in the foreign exchange market was noted in a presentation on the topic “Peculiarities of introducing currency futures designed to hedge currency risks in the trading system of the currency exchange of the Republic of Uzbekistan, establishing the activities of a mobile application and liquidity providers UzRCE”, organized jointly with the Central Bank and UzRCE.
The event discussed in detail currency futures contracts, important aspects of their implementation, the convenience of the UZS mobile GB mobile application for market participants.
In turn, the introduction of currency futures contracts faciltates the emergence of new instruments in the foreign exchange market, as well as mitigating the impact of external shocks that have a negative impact on the financial position of enterprises.
mobile app UZS mobile GB has been launched for greater convenience of participants in currency futures contracts. In this mobile app, it is possible to view information about the parameters of auctions in the government securities market, cancel entered orders, conclude transactions for the sale or purchase of government securities, make repurchase agreements and view their results, receive exchange information – quotes, exchange news and analytical materials or other exchange materials related to this market.
As part of the event, contracts were signed between provider banks and UzRCE, as well as an award ceremony for the winners of the tournament for test trading in futures contracts.