A big step towards extending
the reach of the Mongolian Stock Exchange took place Tuesday when an
agreement was signed with the Tokyo Stock Exchange.
The agreement, a vaguely worded
memorandum of understanding pledging increased cooperation between the
stock exchanges, in reality is the first step towards eventually allowing
trading on both countries’ stock exchanges.
"I am confident that the
memorandum will help bring Mongolia and Japan closer together and strengthen
our two Exchanges partnerships in the period ahead," commented
Mr. Sodkhuu Rentsen, CEO of the Mongolian Stock Exchange.
In a further statement released
by both exchanges, slight hints about future trading were mentioned.
“Both Exchanges wish to foster the development of channels of communication
and a cooperative relationship between them for the purpose of supporting
and advancing the development of the securities markets in both Japan
and Mongolia,” read the statement.
The Mongolian stock exchange
is the sole provider of securities trade-related services in Mongolia
and is a 100 per cent government owned corporation.
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