UZEX and PhillipCapital launch joint venture for global futures access

UZEX and PhillipCapital have launched UZEX Global in Singapore to give Uzbek corporate clients access to international commodity futures markets. The joint venture is meant to deepen Uzbekistan’s links to global trading and risk-management tools as the country’s economy becomes more connected.

Why it matters: - UZEX Global gives Uzbek businesses a new channel to hedge commodity exposure and reach international futures markets. - The joint venture is positioned as a bridge between Uzbekistan’s local commodity market and global financial infrastructure. - The launch adds another business link between Uzbekistan and Singapore.

What happened: - Phillip Nova announced the opening of UZEX Global JV LLC, a joint venture between the Uzbek Commodity Exchange and Phillip Trading, a PhillipCapital Group member. - The venture was launched in Singapore on September 17, 2026. - UZEX Global is designed to provide access to international futures markets for clients in Uzbekistan.

The details: - Corporate clients in Uzbekistan will be able to access commodity futures linked to international markets through UZEX Global. - Initial market access includes CME Group, Intercontinental Exchange and the London Metal Exchange. - UZEX Global will use Phillip Nova’s technology suite, including its trading platform, risk management system and back-office system. - The technology stack is meant to support trading, risk management and post-trade operations. - The joint venture combines UZEX’s knowledge of Uzbekistan’s commodity markets with PhillipCapital’s international financial-market experience. - The partnership is intended to help Uzbek market participants manage exposure to international market moves. - PhillipCapital’s Group’s broader role in Uzbekistan is presented as a long-term commitment to the country’s trade and investment growth.

Between the lines: - The launch signals a push to bring more of Uzbekistan’s businesses into global commodity and derivatives markets. - The structure also gives PhillipCapital a deeper foothold in a market that is still developing its financial infrastructure. - The joint venture reflects a bet that demand for hedging and market access will grow as Uzbekistan integrates further with the global economy.

What's next: - UZEX Global is expected to expand alongside Uzbekistan’s economy and its international market participation. - The partners said they expect the venture to develop into a trusted institution supporting Uzbek businesses. - Phillip Nova’s wider brokerage network and clearing memberships across global exchanges could support the venture’s growth over time.