Korea Exchange, the country's bourse operator said Wednesday that it had signed a deal to complete an information technology system for Uzbekistan’s stock market by 2015.

In 2011, the Korea Exchange inked a deal with the State Property Committee of Uzbekistan to provide and assist the Uzbek stock market with an operating system that covers trading, payment and brokering. 

The process was initially scheduled to be completed by 2013 but was delayed due to procedural matters and differences over the terms of the deal.

The KRX is currently entitled to a stake in the Uzbek stock market operator.

The local bourse operator has recently been ramping up efforts to make inroads into overseas markets in a bid to boost its global presence, as the local market has matured and become largely saturated. The operator has started similar overseas projects in Laos, the Philippines and Malaysia.

(tellme@heraldcorp.com)