The Central Securities Depository took part in the 4th annual edition of ConFEAS 2024 International Conference

The Central Securities Depository took part in the 4th annual edition of ConFEAS 2024 International Conference

The Central Securities Depository uzcsd.uz


On April 19-20, 2024, the next international conference of the Federation of Euro-Asian Stock Exchanges (FEAS) was held in the city of Samarkand, which brought together a professional audience of the region to discuss current trends, issues and opportunities of capital markets, which was represented by 40 speakers and 200 participants, including representatives of stock exchanges, central securities depositories, banks, regulators, investment companies and investment funds.

 

During the conference, six panel discussions took place, each of which was devoted to a separate aspect of the capital market: “The architecture of financial markets’ infrastructures”, “Capital Markets development trends and challenges”, “Beyond Capital Markets: Instruments, Technology and Synergy”, “Financial Intermediation: Challenges and Business Opportunities”, “Pre- and Post-trade Infrastructures: Driver or Anchor”, “ESG and IR: Concerning Points”.

 

The Central Securities Depository JSC (CSD) also took part in the conference: General Director of CSD Sherali Abdujabbarov spoke as the speaker for the panel session on the topic “Pre- and Post-trade Infrastructures: Driver or Anchor?”

 

During the panel discussion, the speakers discussed topical issues of post-trading activities of infrastructure organizations, including aspects of safe-keeping of securities and making settlements based on the results of transactions with securities, as well as problems of risk management. Particular attention was paid to discussing the trend observed in the region's capital markets to shorten settlement cycles and move to more rapid settlements, such as T+1 and T+0, as well as the impact of shortened cycles on market liquidity and risk reduction.

 

During his speech, Sherali Abdujabbarov informed the conference participants about the reforms in the capital market of Uzbekistan, provided for by the Resolution of the President of Republic of Uzbekistan No. 291 “On additional measures for the development of the capital market” and noted that the reforms are aimed at facilitating access for local, foreign and global investors to the capital market of Uzbekistan in order to ensure conditions for rapid market development.

 

Sherali Abdujabbarov also reported on the CSD’s work to fulfill priority tasks within the framework of the Resolution: the opening in April 2024 of a correspondent account of CSD in the Central Bank, the planned for May 2024 implementation of a new settlement system in cash for transactions with securities, the two-stage centralization of accounting for corporate and government securities, as well as the work begun to modernize the CDS’s software in order to implement a single depository software complex for centralized storage, accounting and settlements of corporate and government securities: including analysis of suppliers and preparation for a tender in the near future.

 

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