Mongolian Stock Exchange

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The Mongolian Stock Exchange (MSE) is Mongolia’s only stock exchange. Based in Ulaanbaatar, it was established in January 1991 to privatize state-owned companies. It uses the Mongolian tugrik (MNT) and is government-owned. As of July 2023, the MSE lists 186 companies with a total market capitalization of about MNT 10.9 trillion (around USD 3.2 billion).

Trading hours and products
- Trading days and hours: Monday to Friday, 10:00 to 13:00 (UTC+8).
- Products: equities, government bonds, corporate bonds, closed-end fund units, and asset-backed securities.
- Indices: MSE Top-20, MSE A and MSE B.

Key figures
- Chief executives: Chairman Togtokhbayar D. and CEO Altai Kh.
- Market activity: listed companies, trading volume, and market cap are updated regularly on mse.mn.

History and milestones
- 1991: Established to privatize large state enterprises through vouchers.
- 1990s: Privatization via blue and red vouchers; secondary trading begins in 1995.
- 1998: Electronic trading starts.
- 2000: Government bonds start trading on the MSE.
- 2010: The market was one of the world’s best performers.
- 2012: Millennium IT trading platform (from London Stock Exchange Group) is installed.
- 2015: Becomes a self-regulatory organization.
- 2022–2023: Mongolia is classified as a Frontier market by FTSE Russell; the exchange begins listing state-owned shares to the public; a mining commodities exchange is established under a new law in 2023, making the MSE the first of its kind in Mongolia.
- 2023: MSE signs cooperation deals with the Korea Exchange, London Stock Exchange Group, Budapest Stock Exchange, and Shanghai Stock Exchange to develop products and markets.

Structure and infrastructure
- The MSE organizes listings into three boards (I, II and III) to improve liquidity and listing quality.
- It uses Millennium IT platforms for trading, clearing, and depository services (Millennium Exchange, CSD, Surveillance, and Depositary systems) via its partners.
- The exchange also operates the Securities Clearing House and Central Depository (SCHCD).

Location and building
- The MSE is housed in a central location in Ulaanbaatar and has undergone modernization to support efficient trading and settlement.

For more information, visit mse.mn.