Tashkent, Uzbekistan (UzDaily.com) -- On 20 June, Michael Cofield, Advisor to the US Department of Commerce Commercial Law Development Program (CLDP) and Kevin Piccoli, Deputy Director of the Commodity Exchange Commission (CFTC) visited the Uzbek Commodity Exchange (UZEX).

The main purpose of this meeting was to advise on the implementation of modern exchange mechanisms and tools.

At the beginning of the meeting, a presentation video about the activities of the UZEX was shown to the guests. In particular, they got acquainted with the history of the formation and development of the Uzbek exchange, commodity assets traded on the exchange, the procedure for exchange trading and mutual settlements, as well as the current state and long-term plans of the exchange.

During the negotiations, the legal framework of exchange markets, the practice of state and exchange regulation of organizing and conducting exchange trading in the US commodity segment were studied.

In addition, the issues of the use of modern IT technologies and new trends on stock exchanges, risk management methods, as well as the activities of exchange warehouses in the USA were discussed in detail.

Following the meeting, an agreement was reached to continue consultations on the introduction of modern exchange instruments, intensify further cooperation, and provide comprehensive assistance from US representatives in the development and implementation of new strategic plans for the Uzbek Republican Commodity Exchange.