Mongolian Stock Exchange: Difference between revisions
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*[[Economy of Mongolia]] <br/> |
*[[Economy of Mongolia]] <br/> |
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*[[List of stock exchanges]] |
*[[List of stock exchanges]] |
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==External links== |
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*[http://http://www.spc.gov.mn/eng/index.php?lang=mn State Property Committee of Mongolia] |
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*[http://http://http://www.frc.gov.mn/engnew/ Financial Regulatory Commission of Mongolia] |
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*[http://http://http://www.mof.gov.mn/welcome?lan=en Ministry of Finance, Mongolia] |
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*[http://http://http://http://www.schcd.mn/ Mongolian Securities Clearing House and Central Depository] |
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Revision as of 09:12, 9 April 2012
 | This article needs additional citations for verification. (November 2008) |
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| Type | Stock exchange |
|---|---|
| Location | Ulaanbaatar, Mongolia |
| Founded | January 18, 1991 |
| Owner | State |
| Key people | B.Bold (Chairman) Kh.Altai (CEO) |
| Currency | Mongolian tugriks (MNT) |
| No. of listings | 332 |
| Market cap | MNT 2 trillion and 121.1 billion (March 2012) |
| Volume | MNT 937.4 billion (March 2012) |
| Indices | MSE TOP-20 |
| Website | www |
The Mongolian Stock Exchange (MSE) (Mongolian: Монголын Хөрөнгийн Бирж/Mongolyn Khöröngiin Birj), located in Ulaanbaatar, Mongolia. It is a major player in the financial and securities market of the country as well as the major contributor to the economy of Mongolia. As of March 2012, it has 332 listed companies with a combined market capitalization of 2 trillion MNT 99.3 billion (US$2.3billion). MSE was the world’s best-performing stock market after an increase of 121 percent in 2010. In 2011, MSE ranked the second best performing stock exchange in the world with 57.8 percent increase after Venezuela Caracas Stock Exchange, which increased by 80.8 percent.
Structure
The MSE was established in January 1991 by the decree of the Mongolian Government to privatize state-owned assets with 475 listed companies. Currently, 332 companies listed at MSE, and they are separated into A board and B board. 61 domestic and 17 foreign invested securities companies participate in MSE trading. See: Member of the Mongolian Stock Exchange
History
During the transitional period of central planned economy to market economy in Mongolia, many social and economic changes were made, and one of those changes was the establishment of stock market in the country. On 18 January 1991, the Government of Mongolia established Mongolian Stock Exchange with intention to implement its Privatization Policy.
On 7 February 1992, auctions of MSE officially began, and about 96.1 million shares worth of MNT 8.2 billion (US$7.0 million) of 475 state owned entities were successfully traded through Mongolian Stock Exchange during 1992-1995. After the passage of the first Securities Markets Law in 1994, Securities Committee of Mongolia (FRC) was established and 29 broker firms, financed by MSE, were privatized. With the start of secondary market activity, shares of over MNT 38.8 billion (US$32.1 million) have been traded in 1996-2004. The government bond trading was introduced in 2000, corporate bond trading started in 2001; to date government bonds worth MNT 236.7.9 billion (US$177 million), and corporate bonds worth MNT 4.4 billion (US$3.2 million) have been traded.
Mongolian Stock Exchange (MSE) and the State Property Committee of Mongolia both agreed to establish long-term strategic partnership with London Exchange Group in December 2010, and signed cooperation “Master Service Agreement” on April 7, 2011 confirming their intention to modernization of the Mongolian Stock Exchange.
Trading
Mongolian Stock Exchange (MSE) provides means for buyers and sellers to trade shares of stock of companies registered for public trading. The MSE is open for trading Monday through Friday from 11:00 am to 01:00 pm, with the exception of holidays declared by Mongolian Government. MSE divided its listed companies into A and B board to appropriately appraise and classify companies in order to increase liquidity and quality of listings.
Technology
Within the framework of “Master Service Agreement” experts from Millennium IT Software Limited, (a subsidiary of London Stock Exchange group) are currently installing Millennium IT integrated trading platform, which consists of Millennium Exchange, Millennium CSD, Millennium Surveillance and Millennium Depositary systems at the Mongolian Stock Exchange and Securities Clearing House and Central Depositary /SCHCD/. Millennium IT trading platform is cutting edge software, combined with high performance connectivity, provides the global trading community with innovative tools and access to liquidity in Mongolian capital market.
MSE TOP-20 Index
According to “MSE securities Index Calculation Rule”, securities basket of MSE Top-20 index, the main indicator of the Mongolian stock market, is renewed every six months. It is calculated based on the market capitalization and average daily average trading value of the top 20 securities listed on the Mongolia Stock Exchange. See: MSE TOP-20
Timeline
Jan 18, 1991: Pre-government decree No.22, the Mongolian Stock Exchange (MSE) established in Ulaanbaatar, Mongolia.
Feb 07, 1992: The MSE started its primary market trading.
Aug 28, 1995: The MSE started its secondary market trading.
Oct 25, 1996: The first trading day for the Government bonds.
Oct 01, 1998: The MSE joined as a full-member in Federation of Euro-Asian Stock Exchange.
Jun 08, 2001: The MSE started to trade Corporate bonds.
Dec 03, 2002: Memorandum of Understanding on Mutual Cooperation with Taiwan Stock Exchange was signed.
Mar 26, 2003: The MSE was reorganized as state owned Shareholding Company.
Oct 31, 2005: “Training center” of capital market was established at MSE.
Jan 01, 2006: Finance Regulatory Committee of Mongolia was established.
Jun 15, 2006: Memorandum of Understanding with Korea Exchange was signed.
Jul 19, 2006: Memorandum of Understanding with Istanbul Stock Exchange was signed.
Mar 05, 2008: The MSE established “Information transmission” agreement with Bloomberg.
Apr 10, 2008: The Mongolian Stock Exchange became a member of Asia Pacific Stock Exchanges Association.
Apr 10, 2008: Memorandum of Understanding with Singapore Stock Exchange was signed.
May 15, 2008: Memorandum of Understanding with Tokyo Stock Exchange was signed.
Mar 17, 2009: Memorandum of Understanding with Moscow Interbank Currency Exchange was signed.
Aug 31, 2010: Market value of MSE, exceeded MNT 1 trillion.
Apr 07, 2011: Mongolian Stock Exchange and State Property Committee of Mongolia signed the “Strategic Partnership Agreement” with London * Exchange Group.
See also