New Realities and Opportunities
The Uzbek Republican Commodity and Raw Materials Exchange has been implementing a number of measures for the development of exchange trades and E-commerce.
UZEX continuously improves the basic exchange trading platform and simultaneously implements a model of transparent and competitive auction trades in various spheres and sectors of the economy.
In particular, preparatory work is carried out for the phased transition of the sale of highly liquid commodities exclusively through transparent exchange trades on the basis of market principles. Currently, the Exchange has developed proposals to improve the transparency of exchange trades, improve the mechanism of market pricing, organize stock exchange logistics, as well as automate various operations and business processes carried out on the exchange.
In addition, it is planned to expand the access of entrepreneurs and other business entities to the exchange market through the use of modern IT technologies and the introduction of new trade instruments.
In general, for 10 months of 2017, UZEX concluded deals for 11.4 trillion soums, which is 16% higher than in the same period of 2016. The number of registered new bidders increased by 20% and amounted to 7.6 thousand customers. The volume of exchange trades reached 9.1 trillion soums with growth of 19%. In turn, the enterprises sellers received additional income due to the formation of market prices at the exchange auctions in the amount of 3.3 trillion soums.
Dynamic growth in trade turnover of UZEX is also provided due to active participation of business in exchange and auction trades. Thus, the total volume of transactions concluded with the participation of small businesses and private entrepreneurship reached 8.0 trillion soums, which is 15% more than in 10 months of 2016. At the same time, entrepreneurs purchased commodity resources through the exchange for 5.7 trillion soums and sold their own products for 2.3 trillion soums.
Along with this, the volume of fair trade in comparison with the 10 months of
2016 grew by 16% or to 1.4 trillion soums. The largest share in Internet purchases came from machine-building products 22%, construction materials - 20%, chemical products - 15% and consumer goods - 8%.
Through the currency trading platform and e-store of the exchange, domestic products were exported for $ 51.3 million. Among the exported products, growth in physical terms was observed in mineral fertilizers - 12 times, polypropylene 4 times, liquefied gas - 12% and polyethylene - by 4.5%.
The main innovation of this year was the introduction of the E-commerce model on the B2C commodity exchange by launching a new trading platform for the implementation of auto digits. Thus, for the first time in the history of the UZEX, individuals began to actively participate in the electronic trading of the stock exchange.
When developing the new system, modern IT products were introduced into the technology of bidding taking into account the preferences and needs of bidders. All operations and transactions, starting with the registration of the client before the conclusion of the transaction, are carried out in the personal office of the client, whose access is provided on the website avtoraqam.uzex.uz and in the mobile application of the UZEX. As a result, 79% of visitors to the website use such mobile devices as a smartphone and tablet. The system also integrates guaranteed securing of transactions through the clearing and settlement chamber, widely used in exchange trades.
The launch of the new trading platform of the exchange caused great interest from the owners of vehicles. In particular, 684 automobile license numbers were sold through the online auction, 469 of them for individuals and 215 to legal entities. The total amount of realized state license numbers exceeded 14.4 billion soums.
In the structure of buyers, motorists of Tashkent and Tashkent region are leading, their share being 46%. The following positions are occupied by buyers of the Fergana region - 11%, Samarkand region 10%, Khorezm and Andijan regions - 6%, Namangan and Syrdarya regions - 4% each. The aggregate share of the remaining regions is 13%.
Daily in the AVTORAQAM electronic system an average of 10 transactions are concluded. In the course of competitive bidding, one lot of premium class auto numbers receive about 249 counter orders, as well as an average of 54 and 30 price proposals for the implementation of the second and third category respectively.