Mongolian Stock Exchange /MSE/ is successfully implementing the development activities reflected in the ‘Master Services Agreement’ between Mongolian Stock Exchange JSC, State Property Committee and London Stock Exchange Group.
MSE has successfully migrated to the new ‘Millennium IT’ integrated trading, clearing and settlement and surveillance system on the 2nd of July 2012. The number of compliant brokers that satisfy the requirements set by the legislation and the new system, has reached 44 which represent an average of 95% of the market share over the last several years.
As of the first nine months of this year, trades worth MNT 142.4 billion have been executed at Mongolian Stock Exchange, with an increase of MNT 81.3 billion or 2.3 times compared to the same period of the previous year and an increase of MNT 33.4 billion or 1.3 times compared to the year-end.
Total turnover for the first six months of 2012, was MNT 61 billion with a daily turnover of MNT 463 million, whereas the total turnover and average daily turnover reached MNT 81.5 billion and MNT 1.4 billion, respectively, since the 2nd of July or the date of launching of the new system.
TRADING STATISTICS OF MONGOLIAN STOCK EXCHANGE
In order to promote the rapid growth of Mongolian capital market and support domestic companies to obtain relatively cheap, long-term financing, Mongolian Stock Exchange has decided to provide discount on its listing fees by 30% for companies that are being initially listed at the stock exchange and by 50% for those issuing additional shares.
Furthermore, the issuers are exempted from the listing fees if the issue is for the distribution of dividends in form of shares or for exercising the employee stock ownership plan where the market capitalization of the additional issue falls below MNT 50,000,000 /fifty million/.
MONGOLIAN STOCK EXCHANGE