Strategic partnership extended by a further three years
Chultem Ulaan, Mongolian Finance Minister opens London trading
Builds on three years of successful technology, regulatory and business development
London Stock Exchange Group (LSEG) and the Government of Mongolia today announced they have signed an extension to their strategic partnership agreement between LSEG and the Mongolian Stock Exchange (MSE). The agreement, signed by Chultem Ulaan, Mongolia Finance Minister and Xavier Rolet, CEO, LSEG, will extend LSEG's partnership with the MSE by a further three years and allow the two companies to build on the progress achieved to date.
In 2012, The Mongolian Stock Exchange successfully migrated to the new MillenniumIT trading, market surveillance and depositary platform, marking the culmination of a 14-month project to modernise the country's capital markets infrastructure. In addition, LSEG has developed a wide-ranging education programme for market participants and worked with the Mongolian government to re-draft the country's capital markets regulations and securities law.
Xavier Rolet, CEO London Stock Exchange Group said:
"I am delighted to welcome Chultem Ulaan, the Mongolian Finance Minister to London Stock Exchange to open trading this morning. The Ceremony is a symbol of our very close relationship with Mongolia and reflects our successful partnership with the Mongolian Stock Exchange. The extension of our partnership underlines the significant interest in London in working with Mongolia to help the country realise its exciting potential. We look forward to the future and continuing to partner with Mongolia."
Chultem Ulaan, Finance Minister of Mongolia said:
"We are delighted to have London Stock Exchange Group as our strategic partner in the ongoing modernisation and development of the Mongolian Stock Exchange. We aim to transform MSE into a world-class market with international best practices and standards over the next three years. With the global business and technological expertise of London Stock Exchange Group, we will achieve this goal."
As part of the extended agreement, LSEG will work with MSE on several new areas including Post Trade infrastructure, FTSE Index development and we will investigate opportunities for trading new products and asset classes, including commodity derivatives and FX.
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For further information:
Alex Ritterman +44 (0)20 7797 1222
Notes to editors:
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.
Post trade and risk management services are a significant and growing part of the Group's business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.
The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.
London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group's own markets, over 40 other organisations and exchanges around the world use the Group's MillenniumIT trading, surveillance and post trade technology.
Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.
Further information on London Stock Exchange Group can be found at: www.lseg.co