The Mongolian Stock Exchange (MSE) is getting a facelift. B.Bold, the executive director of Newcom Group and head of the representative managing council of the MSE, told our correspondent about changes planned for the exchange.
He said a group from the London Stock Exchange (LSE) is working to make technological improvements at the MSE by installing high-speed computer systems like those used at the London and Hong Kong exchanges.
The MSE is paying the LSE USD 14 million for the improvements, which will also include repair and renovation work on the MSE building. The MSE is one of the fastest-growing stock exchanges in the world, mainly due to Mongolia’s robust economy.
A working group of the LSE is also helping to write a draft law on bond trading for the autumn session of the Mongolian Parliament.
B.Bold said he hopes the changes will allow the MSE to trade more shares. He added that state-owned enterprises such as the Erdenet Factory and Darkhan Ferrous Metal Mill have asked to issue shares.
B.Bold also expressed his appreciation for the work that the LSE is doing, and thanked the LSE for bringing its experience and knowledge to Mongolia.