EXPLORING DERIVATIVES IN THE UZBEK STOCK MARKET: FUTURES, OPTIONS, AND BEYOND

Abstract

Abstract: Emerging markets like Uzbekistan are typically in the early stages of developing sophisticated financial instruments like derivatives. The presence and maturity of futures, options, and other derivatives markets can vary greatly and are often tied to broader economic and financial market reforms. Derivatives are financial instruments that allow investors to hedge against risks, speculate on the future direction of markets, and gain access to assets or markets otherwise inaccessible. Among the most common derivatives are futures and options. Initially, specific securities were utilized in property relations within the planned economy (bonds, lottery tickets, bills of exchange in foreign trade). As of right now, it is beneficial to move the economy toward a market economy, build a securities market, restore the types of securities, and call for the emergence of new species.