First Securities and Derivatives Exchange in Tajikistan

London, UK / Dushanbe, Tajikistan. 16th September 2015 GMEX Group today announced that it has entered into a partnership agreement with the Central Asian Stock Exchange (CASE) based in the Republic of Tajikistan through its GMEX Technologies (GMEX Tech) subsidiary.

Tajikistan is currently undergoing a significant period of change with a range of projects being supported by the European Bank for Reconstruction & Development (EBRD), The World Bank and the Asian Development Bank (ADB). Key priorities include the delivery of an improved banking sector to attract new investment. The introduction of a fully transparent and advanced technological exchange and clearing solution will support this process.

The CASE exchange application was granted in 2015 by the securities regulator in Tajikistan. The partnership with GMEX Tech will facilitate the establishment of the first fully integrated Exchange, CCP and CSD in Tajikistan leveraging the end to end exchange trading, market surveillance, clearing and settlement technology platforms, operations and global business expertise ecosystem, which GMEX Tech will provide.

CASE will launch during Q4 2015 initially with securities, followed a derivatives market during 2016. The shareholders of CASE are also in the process of establishing a new company, which will act as the central securities depository (CSD) for the new exchange upon launch and expand to be a clearing house to service the derivatives market.

GMEX Group is also in advanced stage discussions to acquire a strategic equity stake in both CASE and the central securities depository company

“This agreement with CASE highlights our focus on emerging markets development to aid economic growth through a unique sustainable partnership driven model,” commented Hirander Misra, Chief Executive Officer and Co-Founder of GMEX Group. He added, “our relationship will provide Tajikistan with a world class primary exchange, clearing house and CSD enabled by our technology, operations and business expertise.”

Alisher Shernazarov, Chief Executive Officer of CASE said, “we are delighted to have GMEX Group as a partner and to have started the first phase of our implementation of the exchange technology suite provided by GMEX Technologies.” He added, “we are well on the way towards our goal of launching a fully integrated securities and derivatives exchange with a clearing solution for the Central Asian region.”


Media Contacts:

GMEX Exchange:
Melanie Budden
The Realization Group:
+44 (0)7974 937 970

Navruz Khotamov
Director for Business Development
Tel: +992 55555 4321

About GMEX Technologies Limited
GMEX Technologies Limited (GMEX Tech) is a wholly-owned subsidiary of GMEX Group. GMEX Tech is provider of multi-asset exchange and post trade technology, which includes an FCA vetted high performance exchange trading system, through to a leading edge matching engine, market surveillance system, several front end trading platform options as well as clearing house and depository systems.

About GMEX Group
Global Markets Exchange Group International LLP (GMEX Group) is a group of companies that offer sustainable and innovative solutions for the new era of global financial markets, encompassing:

  • Operation of a venue for the arrangement of a Constant Maturity Future for Interest Rate Swaps
  • Development of related new tradable market and product indices
  • Creation and operation of low cost electronic exchanges/platforms in equities, debt, FX, derivatives and commodities in both developing and, in a targeted way, developed markets
  • Interconnectivity of exchanges to each other creating a global network of liquidity
  • Business development to enhance liquidity in partner exchange products
  • Consultancy on exchange strategy, product development, clearing and regulation
  • Provision of exchange, clearing house and depository platform technology

GMEX Group stakeholders include Deutsche Börse AG, Société Générale Corporate & Investment Banking and Forum Trading Solutions Limited through its investment vehicle.

For more information. visit
or follow us on Twitter @GMEX_Group

About CASE
Open Joint Stock Company “Central Asian Stock Exchange” (CASE) was established in 2015 by LLC “Konofar mining” and LLC “Dastina”. The main office of CASE is located in Dushanbe city, Republic of Tajikistan.

Founders of CASE have a strong financial position and are committed to building a stock exchange capable of serving large markets. CASE will provide access to alternative sources of funding for local entities from both local and foreign investors, and provide conditions for foreign investors to enter into the Tajikistan capital market.

From the first days of establishment, CASE is actively working under the reforms of legislation in regards to security markets and tax legislation for all participants of security markets.

CASE has a professional team with rich experience in the financial industry, especially in the stock markets. The team was hired with the intention of shaping the development of the stock exchange activity with the most suitable conditions for all participants of security markets.

For more information, visit