Meeting between Central bank of Uzbekistan and JPMorgan Chase Bank on the Development of the Derivatives Market

On 30 January, the Central Bank held a meeting with representatives of JPMorgan Chase Bank.
During the meeting, the parties discussed the development of the derivatives market, as well as the establishment of a local hedging institution.

The Central Bank’s initiatives in this area were met with strong interest from foreign partners, who expressed their readiness to support these initiatives.

In particular, the experts expressed interest in participating in derivatives market trading, enhancing the capacity of market participants through practical training programs, providing expert and practical support in aligning the regulatory framework with international standards, and assisting in the introduction of new hedging instruments.

As a result of the discussions, the Central Bank and JPMorgan Chase Bank reached a preliminary agreement on further cooperation in these areas.

Deputy Chairman Nodirbek Achilov and officials from the relevant departments represented the Central Bank at the meeting. JPMorgan was represented by Timur Kunanbayev, Managing Director and Head of Investment Banking for the CIS; Martin Martinov, Vice President, Institutional Sales (London); and Bobokhon Abdullaev, Head of the Representative Office in Uzbekistan.