Republican Stock Exchange "Toshkent"

Name

Republican Stock Exchange "Toshkent"

Legal name

AO Respublikanskaya Fond Birzha "Toshkent"

Website

https://uzse.uz

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Securities Exchange and Capital Market Infrastructure

NAICS

Securities and Commodity Exchanges (52321)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Regional / Local Stock Exchanges (FSAFAAAG)

akta.pro secondary industry

IPO & New Issue Issuer Services (Listing/ISIN setup) (FSACAKAH)

Keywords

• Securities exchange services
• Equity trading platform
• Bond listing services
• REPO transactions
• Capital market infrastructure

Headquarters

HQ city

Tashkent

HQ country

Uzbekistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Fees: Fees charged on securities trading transactions executed on the exchange platform
2. Listing Fees: Fees for securities listing, maintaining listings, and inclusion in exchange quotation lists
3. Exchange Membership Fees: Fees from exchange members including brokers, with tariffs published for member services
4. REPO Transaction Fees: Fees from REPO transactions with corporate bonds of JSC Mortgage Refinancing Company of Uzbekistan

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Republican Stock Exchange "Toshkent" (UZSE) operates Uzbekistan's primary national securities exchange, providing electronic trading infrastructure for stocks, corporate bonds, and REPO transactions. The exchange delivers listing services, market data dissemination (indices, stock and bond price data, trade result analytics), and operates specialized platforms including SPPZ Nego for large block share transactions and a mobile trading app (fondbozori.uz) for retail access. Supporting services include a broker deal signing module, exchange academy education programs, and investor hotlines.

Product overview

The Republican Stock Exchange "Toshkent" (UZSE) operates as Uzbekistan's primary securities exchange, offering a comprehensive electronic trading platform for stocks, bonds, and other financial instruments. The core offering is the Securities Trading Platform, supplemented by the SPPZ Nego platform for large block share transactions, a mobile trading system (fondbozori.uz), and a broker deal signing module. Market data services include real-time equity and bond pricing, market indices, IPO/SPO/PO schedules, and trade result analytics. Supporting services encompass issuer listing, exchange academy education programs, and REPO transaction capabilities for short-term financing.

Differentiator

Problem solved

Functional benefit

Products and services

• Securities Trading Platform Electronic platform for trading stocks, bonds, and other securities on the Republican Stock Exchange Toshkent, enabling real-time transactions and market data access for brokers and institutional investors.
• SPPZ Nego (Special Platform for Large Block Share Applications) Special platform for accepting applications for large blocks of shares, enabling substantial equity transactions with specialized trading procedures for institutional participants.
• Mobile Trading System (fondbozori.uz) Mobile trading application enabling investors to access the stock exchange trading system via smartphones and tablets for retail participation.
• Issuer Listing Services Services for including securities in the exchange quotation list, providing companies with access to capital markets through listed securities including IPO, SPO, and bond issuance support.
• REPO Transactions Repurchase agreement transactions enabling short-term financing with corporate bonds, including mortgage refinancing company bonds, supporting government policy initiatives in the mortgage market.
• Equity and Bond Market Data Services Market data services including stock price data, bond pricing information, market indices, IPO/SPO/PO schedules, and trade results analytics for investors, analysts, and listed companies.
• Broker Deal Signing Module (broker.uzse.uz) Module for signing exchange trades electronically, providing licensed brokers with digital verification capabilities for securities transactions.
• Exchange Academy Educational platform providing market participants and students with real-world capital market experience and training in securities trading.

Quantifiable outcome

• 9.2% NAV increase driven by portfolio revaluation for flagship fund (UzNIF)

Named customers5 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered minor and core.

• HYT-CAPITALminorChannel Partner/ Reseller/ Distributor · 10 July 2026New exchange member (broker) that joined the exchange in July 2026, expanding the network of licensed brokerage firms authorized to execute trades on UZSE.
• JSC Mortgage Refinancing Company of UzbekistancoreStrategic or Co-development Partner · 6 July 2026State-backed mortgage refinancing company whose corporate bonds were used for inaugural REPO transactions worth 65.5 billion soums on UZSE on July 6, 2026. The transactions were conducted under a presidential decree aimed at developing Uzbekistan's housing and mortgage market and expanding the secondary market for mortgage bonds.
• Kazakhstan Stock Exchange (KASE)coreStrategic or Co-development Partner · 18 June 2026Tashkent Republican Stock Exchange and Kazakhstan Stock Exchange held talks in Baku, Azerbaijan on June 18, 2026 to explore expanding cooperation between their capital markets. Discussions focused on broadening dual-listing mechanisms, facilitating placement of foreign securities on the Tashkent exchange, and exploring asset tokenization opportunities as part of broader efforts to improve capital market infrastructure.
• PhillipCapitalcoreStrategic or Co-development Partner · 18 June 2026Representatives of Singapore-based financial services group PhillipCapital held talks with UZSE officials on June 18, 2026 to explore expanding international cooperation and cross-border collaboration. PhillipCapital expressed readiness to provide practical support for establishing dual-listing mechanisms between the Singapore Exchange and UZSE, aiming for greater regional capital market integration and enhanced investment attractiveness.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Singapore Exchange (SGX): SGX is in active dual-listing discussions with UZSE via PhillipCapital. It serves as the Southeast Asian benchmark for institutional exchange services and cross-border securities placement relevant to UZSE's expansion plans.
• London Stock Exchange: LSE hosts GDRs for Uzbek issuers (e.g., UzNIF) and is UZSE's international dual-listing partner. While vastly larger, LSE is relevant as the offshore venue for Uzbek securities and the model for internationalization.

Regional players

• Pakistan Stock Exchange (PSX): PSX is a frontier-market exchange with a comparable institutional structure focused on domestic equity/bond trading and emerging foreign-investor engagement. It is a useful structural peer for UZSE given similar market depth and reform trajectories.
• Baku Stock Exchange: The Baku Stock Exchange operates Azerbaijan's national exchange and participated in the June 2026 Baku meeting where UZSE and KASE explored cooperation. It is a regional frontier-market peer pursuing similar capital-market development and foreign-investor engagement.
• Moscow Exchange (MOEX): MOEX is the dominant equity, bond, and derivatives exchange across the CIS region. While not a direct geographic competitor, MOEX is a structural reference point for UZSE on product breadth (REPOs, ETFs, derivatives) and regional listings strategy.

Direct peers

• Astana International Exchange (AIX): AIX is a younger international exchange based in Kazakhstan's Astana International Financial Centre. It is comparable as a frontier-market regional exchange pursuing international investor access, dual-listing, and asset tokenization — the same strategy UZSE is pursuing with PhillipCapital and Singapore Exchange.
• Kazakhstan Stock Exchange (KASE): KASE operates Kazakhstan's national stock exchange and is UZSE's most direct regional counterpart, with the two exchanges in active dual-listing and cross-border cooperation discussions. Both serve frontier-market Central Asian equity and bond trading with comparable regulatory and institutional investor bases.

Emerging players

• Egyptian Exchange (EGX): EGX is a frontier-market exchange pursuing international investor outreach and product diversification (REPO, derivatives). It is comparable to UZSE in scale and in its effort to broaden foreign institutional participation from a small base.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/OfficialUzse
• Facebookfacebook.com/UZSEofficial
• LinkedInlinkedin.com/company/uzse
• Instagraminstagram.com/uzse_official

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Republican Stock Exchange "Toshkent"