On September 29, 2022, FTSE Russell, one of the leading global providers of benchmarking, analytics, and data solutions for investors, sent an official letter to the CEO of Mongolian Stock Exchange (MSE), Altai Khangai, notifying that Mongolia meets all of the FTSE quality of Markets criteria for a Frontier market classification and has been approved for reclassification from Unclassifed to Frontier Market status, effective from September 2023. 

FTSE Russell classifies markets into four main categories from "Frontier" to "Developed" according to its Quality of Markets Assessment Matrix technical criteria. As of September 2022, 29 countries are classified as Frontier Market, which includes Bulgaria, Estonia, Kazakhstan, Vietnam, Latvia, and Lithuania.

In order to be qualified in the classification of Frontier Market, the MSE has been working with market regulators and infrastructure organizations since 2017 to adopt an internationally accepted settlement system and create a favorable environment for investors. Furthermore, the MSE has been engaging with the FTSE Russell group to keep informed of ongoing market developments on a quarterly basis. This effort resulted in Mongolia being included in the Frontier Market Watchlist in September 2021; consequently, in September 2022, Mongolia was reclassified as a Frontier market. 

We believe that being recognized in the international market will help attract foreign investment, increase trading turnover, improve liquidity, and accelerate market development.

We would like to congratulate the market regulators and participants that contributed to this achievement. 

MONGOLIAN STOCK EXCHANGE