Account holders in central depository exceeds 1 million MNT

The amount of account holders in the Mongolian Central Securities Depository (MCSD) has surpassed one million. Since the beginning of 2018, an average of 4,000 to 5,000 new accounts have been opened monthly at the MCSD.

Recently, the Mongolian Stock Exchange announced that it will be operating its Millennium CSD (Central Securities Depository) system on the weekends until the end of November to accommodate the upcoming Erdenes Tavan Tolgoi share listing.

A large number of people are creating new accounts at the central depository in connection with the Erdenes Tavan Tolgoi listing. A collective 2.5 million citizens own shares of the company.

In August, 8,902 new accounts were opened, and in September, a whopping 24,682 new accounts were opened at the depository.

Most citizens own 1,072 shares in the company but some individuals currently only own 536 shares or 750 shares. This is due to the fact that in 2011, university students were given 500,000 MNT in exchange for around 500 shares while those with 750 shares sold around 300 shares to Cabinet for 300,000 MNT in 2016.