Fi­nan­cial Reg­u­la­tory Com­mis­sion to me­di­ate dual list­ings


The Fi­nan­cial Reg­u­la­tory Com­mis­sion (FRC) will be draft­ing rules of pro­ce­dure to reg­u­late and me­di­ate dual list­ings be­tween the Mongolian Stock Ex­change and 26 other ap­proved stock ex­changes.

In July 2017, FRC ap­proved a tem­po­rary list of for­eign stock ex­changes that companies will be al­lowed to dual-list on.

The re­vised Se­cu­ri­ties Mar­ket Law of Mon­go­lia, adopted on May 24, 2013, pro­vided a le­gal frame­work for dual list­ing of se­cu­ri­ties on both the Mongolian Stock Ex­change (MSE) and in­ter­na­tional ex­changes.

Ac­cord­ing to MSE, this move will en­able companies that are al­ready listed on the ap­proved stock ex­changes and have reg­is­tered un­der­ly­ing se­cu­ri­ties in ju­ris­dic­tions that have a well-es­tab­lished in­vestor pro­tec­tion sys­tem, to be ex­empt from cer­tain reg­u­la­tory re­quire­ments when is­su­ing their shares and de­pos­i­tory re­ceipts in the Mongolian cap­i­tal mar­ket.

Of­fi­cials note that this will help over 30 companies op­er­at­ing in Mon­go­lia and listed on five in­ter­na­tional ex­changes to ex­pand their mar­ket as well as Mongolian cit­i­zens to own and ben­e­fit from those se­cu­ri­ties.

FRC will be re­ceiv­ing pub­lic feed­back in or­der to cre­ate the rules of pro­ce­dure.

Tem­po­rary list of for­eign stock ex­changes al­lowed for dual-list­ing

1. Aus­tralian Se­cu­ri­ties Ex­change - Aus­tralia 2. Wiener Borse - Aus­tria

3. Euronext Brus­sels - Bel­gium

4. Toronto stock ex­change - Canada

5. Toronto ven­ture ex­change - Canada

6. Nas­daq Copen­hagen - Den­mark

7. Nas­daq Helsinki - Fin­land

8. Euronext Paris - France

9. Deutsche Bourse - Ger­many

10. The Stock Ex­change of Hong Kong - Hong


11. Ir­ish stock ex­change - Ire­land

12. Tel-Aviv stock ex­change - Is­rael

13. Borsa Ital­iana - Italy

14. Tokyo stock ex­change- Ja­pan

15. Korea Ex­change - Korea

16. Euronext Am­s­ter­dam - Nether­lands

17. New Zealand Stock Ex­change - New Zealand 18. Oslo Bors - Nor­way

19. Euronext Lis­bon - Por­tu­gal

20. Sin­ga­pore Ex­change - Sin­ga­pore

21. Bolsa de Madrid - Spain

22. Nas­daq Stock­holm - Swe­den

23. SIX Swiss Ex­change - Switzer­land

24. The Lon­don Stock Ex­change - United King­dom 25. The New York Stock Ex­change - United States

of Amer­ica

26. Nas­daq - United States of Amer­ica

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