Tashkent stock exchange swaps UCI for three-index line

Three indices replace UCI

The Republican Stock Exchange Toshkent replaced its UCI index with a line of three indices, the Uzbekistan Prime Index, on 10 November 2026. The exchange said the new line gives investors a fuller picture of the market.

Comparing the new indicators shows whether growth rests on a few of the largest companies, according to the exchange. It also said the indices could in time serve as a base for exchange-traded funds.

An ETF is a fund that tracks an index and trades on an exchange. The exchange did not say when such a product might appear.

Conditions for an ETF

The exchange said an ETF launch requires market demand, suitable regulatory conditions and ready infrastructure. It did not specify which of these is missing or how far the work has gone.

Zebokhon Mirkhosil kizi Mirobidova, who leads the exchange's index development project, told BeInCrypto that open selection criteria give companies a clear guide for inclusion in the indices. She did not give a timetable for the ETF work.

Part of a wider reform

The exchange is developing a data platform called UMetryx and working with international information platforms, according to the report. A new law on the capital market is also being drafted in parallel.

The report links the replacement of UCI to a presidential decree, but does not set out its terms. It is not known whether the three indices will keep the same constituents as UCI or how often they are rebalanced.