Angar Davaasuren, CEO of the Mongolian Stock Exchange
Angar Davaasuren, CEO of the Mongolian Stock Exchange (MSE) based in Ulan Bator, had a meeting with Asian financial market representatives from Bloomberg on August 4th. The meeting covered carrying out government securities trade using the Bloomberg Terminal electronic trading platform.
The Minister of Finance directed the MSE to implement 2013 Parliament Resolution No. 41 on July 30, 2014. The MSE will be required to conduct research on whether payment, accounting, and clearing, through the use of new software, can be carried out in accordance with existing laws and regulations, and whether institutions participating in the market are prepared to carry out government securities trade on the Mongolian Stock Exchange.
Mongolia, a vast country in the midst of a boom, possessing huge potential has seen an influx of Western and Chinese investments as the country is sitting on huge natural resources and mineral reserves. It’s business friendly environment and strategic location could one day in the near future be used as magnet and regional financial hub. It’s strengths could be attractive for FX operations in the same way Cyprus serves as a business and tax friendly outpost for regulated firms. The question is how tough will the country’s regulation and oversight of capital markets and financial services be?