Business Expenses


Tashkent Republican Stock Exchange is the basic trading platform in the stockmarket of Uzbekistan. It has over 100 brokerages andbranches in all regions of the country, has the essential equipment, communications and software to organize trading (access to trading) of any branch in the country. In addition to Tashkent RSE, the Currency Exchange Interbank Trading System and Elsys savdo alsotrade securities.

In transactions for trading securities in the exchange, the fees of brokerages vary depending on the amount of deal and the size of thepackage as well as liquidity of particular securities. Minimum commission may be 0.005% of the deal amount, and maximum - 6.5%.In addition to the brokerage costs, also the fees of RSE (off-exchange platforms), Central Depository, and secondary depositories aswell as Clearing chambers must be taken into account in the securities deals.

The Scale of Fees in Tashkent Republican Stock Exchange

Market Category

Deal Amount


Tashkent RSE

In primary market, REPO section

Regardless of deal amount

0.2% of deal amount


from 100 soums to 1 billion soums

0.5% of deal amount

In secondary market, REPO section

over 1 billion soums

0.2% of the amount over 1 billion soums + 5 million soums

Bond market, REPO section

Regardless of deal amount

0.002% of deal amount



from 100 soums to 1 billion soums

0.2% of deal amount

In primary and secondary markets

over 1 billion soums

0.1% of the amount over 1 billion soums + 2 million soums

Bond market

Regardless of deal amount

0.002% of deal amount



from 100 soums to 10 million soums

1.7% of deal amount

Off-exchange market

over 10 million soums

2.2% of the amount over 1 billion soums + 2 million soums,



Tariffs for services provided by the Interbank Trading System





Registration of trader



Installation and connection of ITS-trading, the trading and clearing system


Quarterly membership fee to use trading system and ITS trading clearing charged by the request 0.5 MMW** collection points

Electronic document turnover


0.1 MMW***

Clearing service

Opening and maintaining accounts



Records from accounts



Deal clearing



Records from deal register








Up to10 million soums

1 000 soums + 0.5% of deal amount

from 10 million soums to 100 million soums

10 000 soums + 0.4% of deal amount

from 100 million soums to 1 billion soums

100 000 soums + 0.3% of deal amount

from 1 billion soums to 10 billion soums

1 000 000 soums + 0.2% of deal amount

over 10 billion soums

10 000 000 soums + 0.1% of deal amount


10 000 soums + 0.01% of deal amount

Service Fees of Central Depository



Client registration in Integrated Database of Subscribers

a)     Legal entities;

b)     Individuals

1 MMW0.07 of MMW

Registration of the issuance of securities, 1st issue


Registration of securities in conducting global transactions by issuance of securities


Supply of securities to the trading account at the Central Depository

from 0.015 % to 0.2% but maximum 30 MMW

Depositing securitie into the trading account at the Central Depository based on the results of trading at theorganized market (from deal amount),

-       Shares in the exchange;

-       Shares in the non-exchange market;

-       Bonds and other securities

0.2% but at least 0.1 MMW0.1 %

0.015% but at least 0.5 MMW maximum 30 MMW

Interdepositary transfer securities from transit account of the issuer to the correspondent account of the depository, 1st issue


Interdepositary transfer of securities (trilateral transfer scheme), transfer

0.5% of the package value but maximum 10 MMW

Generating and printing records from depo account, 1 record per security

0.02 MMW

Providing information on the requisites of securities, 1 security

0.1 MMW

Storage of paperless securities in depo account (in one calendar day):

-       to 100 million soums

-       from 100 000 001 to 1 billion soums

-       from 1 000 000 001 to 100 billion soums

-       over 100 billion soums

0.00030 %0.00021 %0.000021 %0.000020 %

*Note: More detailed information on all services and fees of the Central Depository of Uzbekistan is available on the website (


Services of Central Depository with the assignment of ITS (Interbank Trading System)



Registration of securities of the trading party at the Central Depository for trading at ITS


Transferring securities from the trading account at Central Depository to the depository serving (secondary depository) ITS player


Transfer of bonds to the trading acount at the Central Depositary based on the outcomes of trading on ITS

0.015 % of deal amount, at least 0.5 minimum wage and up to 30 minimum wages

Transfer of shares to the trading account at the Central Depository after trading at ITS

0.9% - 0.1% of deal amount

Blocking (unblocking) securities traded at ITS


For example, buyer expressed the wish to buy the commercial bank shares in the Tahskent RSE secondary market in the amount of 10million soums. Transaction fees will be calculated as follows:

Expenses to buy share = 10000000 * (1% + 0.2% + 0.2% + 0.1% + 0.1% + 0.5%) + (1 MMW + 0.02*MMW + 0.1*MMW)=10000000 * 2.1% + 62290*1.12 =279764.8 soums

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