RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of December 27, 2021 No. 777

About measures for implementation of the future biddings at the commodity and raw exchanges and to creation of the trade portal of electronic logistics of services in transportation of goods by road transport

(Extraction)

For the purpose of accomplishment of the tasks determined by the Presidential decree of the Republic of Uzbekistan of September 14, 2021 No. UP-6313 "About Measures for Radical Enhancement of Contractual Relations" and the resolution of the President of the Republic of Uzbekistan of March 17, 2021 No. PP-5031 "About measures for further implementation of market mechanisms in implementation processes of highly liquid and exclusive goods", step-by-step implementation in the exchange biddings of new trade instruments, including commodity derivatives and also the organization of the trade portal of electronic logistics of services in transportation of goods by motor transport based on the principle of complete digitalization of transparent queue, the DECIDES: Cabinet of Ministers

1. Take into consideration that:

The Antimonopoly Committee of the Republic of Uzbekistan together with JSC Uzbek Republican Commodity and Raw Exchange (further - UZRTSB) reaches the agreement with the leading foreign companies on implementation at the exchange biddings of the software for trade in derivatives, including futures;

The ministry of transport of the Republic of Uzbekistan together with UZRTSB creates and starts since September 1, 2021 the trade portal of electronic logistics providing system of complete digitalization of transparent queue in the course of delivery of goods, providing the competition between cargo carriers.

2. Approve:

a) Regulations on procedure for carrying out the future biddings at the commodity and raw exchanges, according to appendix No. 1 *, providing the following main priority directions;

b) Regulations on activities of the trade portal of electronic logistics for transportation services of loads by motor transport according to appendix No. 2 *, providing the following main priority directions.

7. Make changes and additions to some decisions of the Government of the Republic of Uzbekistan according to appendix No. 3.

Appendix №3

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of December 27, 2021 No. 777

Changes and additions made to some decisions of the Government of the Republic of Uzbekistan

1. In Rules of carrying out settlement and clearing transactions at the commodity and raw exchanges approved by the resolution of the Cabinet of Ministers of January 17, 2018 No. 33:

a) in Items 20, of the 38 and 40 text in state language to replace the word "YuKR" with the word "EBKR";

b) add Item 41 with the paragraph the seventh the following content:

"At the same time cases of artificial sharp overestimate or understating, fixing or maintenance at one level of exchange prices by closing of transactions, and also restriction of possibility of acquisition of products by other participants are considered by authorized body".

2. In Regulations on the Antimonopoly Committee of the Republic of Uzbekistan approved by the resolution of the Cabinet of Ministers of May 15, 2019 No. 402:

a) state Item 2 in the following edition:

"2. The Antimonopoly Committee is state body in the field of anti-monopoly regulation, development of competitive environment, control of activities of subjects of natural monopolies and licensing of the commodity and raw exchanges, and also regulation of trade in commodity derivatives, including futures trading at the commodity and raw exchanges";

b) add Item 10 with the paragraph the eighth the following content:

"regulation of trade in commodity derivatives, including futures trading, at the commodity and raw exchanges";

c) add Item 11 with the subitem "zh" of the following content:

"g) in the field of regulation of trade in commodity derivatives at the commodity and raw exchanges, including futures trading:

approves rules of carrying out the future biddings and the procedure for carrying out clearing on the future biddings developed by the commodity and raw exchanges and approved by the supervisory board of the exchange;

controls carrying out trade in commodity derivatives, including the future biddings";

d) add Item 12 with the paragraph the twelfth the following content:

"regulation of trade in commodity derivatives, including the future biddings, at the commodity and raw exchanges";

e) add Item 13 with paragraphs the thirty ninth and fortieth the following content:

"approves rules of carrying out the future biddings and the procedure for carrying out clearing on the future biddings developed by the commodity and raw exchanges and approved by the supervisory board of the exchange;

controls carrying out trade in commodity derivatives, including the future biddings";

the thirty ninth to consider the paragraph the paragraph the forty first;

e) add Item 16 with paragraphs the twenty sixth and twenty seventh the following content:

"instruct the commodity and raw exchanges obligatory for execution according to the prevention, identification and elimination of price manipulations in case of trade in commodity derivatives, including in the course of the future biddings;

take in accordance with the established procedure measures concerning the participants who are not observing the requirement of the legislation on trade in commodity derivatives, including futures trading, and allowed price manipulations in the course of the biddings";

to consider the paragraph of the twenty sixth the paragraph the twenty eighth;

g) add Item 23 with paragraphs the twenty first and twenty second the following content:

"instruct the commodity and raw exchanges obligatory for execution according to the prevention, identification and elimination of price manipulations in case of trade in commodity derivatives, including in the course of the future biddings;

take in accordance with the established procedure measures concerning the participants who are not observing the requirement of the legislation on trade in commodity derivatives, including futures trading, and allowed price manipulations in the course of the biddings";

the twenty first to consider the paragraph the paragraph twenty third.

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