As of today, a total of 52 companies have been listed as underwriters, brokers and dealers at the Financial Regulatory Commission, of which 5 companies have permissions to participate in foreign stock exchange trades. Companies highlighting the fact that people are increasingly buying up foreign companies’ stocks over domestic securities.
The popular instrument among them are Facebook, Alibaba and Tencent. For instance, the majority of stock trades conducted at Golomt Capital were foreign companies in 2017. However, the exchange rate risks and premiums raise issues when participating in foreign stock exchange trades. The regulation on dual listing, which was approved in 2017, now allows foreign stocks to be traded with MNT at Mongolian Stock Exchange.
As of the third quarter of 2017, the operational revenue of brokerage firms increased by 57 percent and reached MNT 5.5 billion. Accordingly, the net profit increased by 227 percent, to MNT 1.4 billion within the period, confirming the increase in financial market participants. Golomt Capital also informed that trades intensified after introducing online trading.
Additionally, “By taxing the savings interest revenues, the number of stock buyers have drastically increased and the number of clients quadrupled in the brokerage firms last year,” reported TDB Capital. For instance, the number of individuals and enterprises participating in securities trade increased to 5200 in 2017, tripling the previous year’s amount. Moreover, the MSE trades reached a record high of MNT 850 billion in 2017.
As of today, a total of 52 companies have been listed as underwriters, brokers and dealers at the Financial Regulatory Commission, of which 5 companies have permissions to participate in foreign stock exchange trades. Companies highlighting the fact that people are increasingly buying up foreign companies’ stocks over domestic securities.
The popular instrument among them are Facebook, Alibaba and Tencent. For instance, the majority of stock trades conducted at Golomt Capital were foreign companies in 2017. However, the exchange rate risks and premiums raise issues when participating in foreign stock exchange trades. The regulation on dual listing, which was approved in 2017, now allows foreign stocks to be traded with MNT at Mongolian Stock Exchange.
As of the third quarter of 2017, the operational revenue of brokerage firms increased by 57 percent and reached MNT 5.5 billion. Accordingly, the net profit increased by 227 percent, to MNT 1.4 billion within the period, confirming the increase in financial market participants. Golomt Capital also informed that trades intensified after introducing online trading.
Additionally, “By taxing the savings interest revenues, the number of stock buyers have drastically increased and the number of clients quadrupled in the brokerage firms last year,” reported TDB Capital. For instance, the number of individuals and enterprises participating in securities trade increased to 5200 in 2017, tripling the previous year’s amount. Moreover, the MSE trades reached a record high of MNT 850 billion in 2017.