Tashkent Stock Exchange Replaces UCI Index with Three New Indicators
Starting from November 10, the Tashkent Stock Exchange has transitioned to three indices from the Uzbekistan Prime Index family. These have replaced the UCI, which previously served as the primary indicator of Uzbekistan's stock market. The new indices share common stock selection rules but differ in how they account for each stock's contribution to the final indicator.
In the UPI, the weight of each company depends on its total market capitalization. In the UPI FF, only the value of shares in free float is considered. In the UPI EW, all stocks are assigned equal weight during each quarterly review.
To be included in the indices, a company must demonstrate a positive financial result in its most recently published annual report. At least 5% of its shares must be in free float. The exchange also considers the duration of the securities' presence in the quotation list, trading activity, and liquidity.
The exchange will provide data on all three indices to Bloomberg, which previously received UCI values. Refinitiv and Cbonds have also shown interest in the new indicators. The index calculation methodology may serve as the basis for creating exchange-traded funds (ETFs).
Simultaneously, the exchange is developing the Umetryx platform, which is planned to be launched in three stages. It will offer real-time trading data, companies' financial indicators, stock price history, bond information, and tools for securities analysis.
