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Mongolian stock exchange reaches new historical record www.theubposts.com
The Mongolian Stock Exchange has marked a momentous achievement as it surpassed a trading volume of three trillion MNT within the first nine months of 2023. This significant milestone was reached after the successful sale of 387,000 shares from 43 companies and coal commodities valued at 207 million MNT on the exchange.
To put this achievement into perspective, it’s worth noting that the exchange’s trading volume peaked at 354.4 billion MNT in 2015, a record at that time, during its 25-year history. However, the exchange shattered its previous record in 2021 when it traded securities worth a staggering 1.4 trillion MNT.
The Marketing and Public Relations Department of the Mongolian Stock Exchange attributed this latest achievement to several key factors. First, the inclusion of shares from five major banks and the introduction of 13 new products for trading in 2023 played a pivotal role in boosting trading activity. Additionally, a significant portion of the 3 trillion MNT, over 60 percent, was generated from the trading of coal and iron ore, both vital components of Mongolia’s mining sector.
This accomplishment underscores the continued growth and vibrancy of the Mongolian Stock Exchange, as it continues to play a pivotal role in the country’s financial landscape.
In addition, MSE also introduced a new trading system. Within its plan to regularly carry out trading system and infrastructure reforms, it successfully implemented the Millennium trading system infrastructure reform project as an organization responsible for conducting transparent and error-free securities trading. In the framework, the user acceptance test for the newly installed main trading system was conducted from September 4 to 8, and another test involving all stakeholders of the stock market was conducted from September 9 to 16. On September 18, the system update was successfully introduced into the market considering conducting commercial tests.
As part of the Master Work Agreement established between the London Stock Exchange and the Mongolian Stock Exchange, the Millennium IT complex system for securities trading, settlement, deposit, and control was introduced to the Mongolian stock market on July 2, 2012. With that system, the infrastructure of the domestic stock market has introduced international standards, and not only securities companies, but also investors, can participate in online trading.
Published Date:2023-09-24
