Management of MSE Will Be Contracted by Competitive Selection

According to Media Office of the Government on May 12,2010 regular Cabinet meeting today discussed and made following decision.

Draft “Management contract” and “ Competitive selection document “ to  choose and select management team to implement operations of “Mongolian Stock Exchange” Shareholding Company have been viewed correct and  State Property Committee/D.Sugar/ has been assigned to proceed with selection according to this documents and introduce the results.

Participants of competitive selection are to be legal entities or their consortiums and members of Management team appointed from them must be experienced in operating in securities and capital market. In particular, it is required to have experience and skills of introducing market economic relations into newly developing countries and have specific comprehensive knowledge regarding regulation of securities market.

Participants of competitive selection are to prepare business plan to be implement  up to 3 years and the plan is to have a structure consisting of “ To ensure stability of capital market”, “ To ensure proper operations of capital market”, “ To establish honest market “, “ Regarding protection of investors”.

State Property Committee is proceed with selection and finalize within 3 months.  Winner international professional team is to advance development of ““Mongolian Stock Exchange” Shareholding Company on a  new level.

While management of  ““Mongolian Stock Exchange” Shareholding Company is to implemented by management contract, any state property and property ownership rights are not be transferred to others.”