London, UK – Ministry of Finance of Mongolia has chosen Bloomberg for the electronic auction and allocation of Mongolian Government Bonds. Ministry of Finance of Mongolia and Bloomberg today signed a Memorandum of Understanding commencing the partnership.

The Government of Mongolia has made significant progress in developing its Government Bond Market since its launch. The Ministry of Finance is implementing comprehensive measures to increase market efficiency, transparency, ease of accessibility and open the market to a broader investor base.

The decision to conduct auction and allocation of Mongolian Government Bonds on the Bloomberg Auction System reflects the ongoing desire and objective of the Ministry of Finance to ensure that the Mongolian market is as efficient, transparent and competitive as possible. The Bloomberg Bond Auction System for Mongolian Government Bond is expected to launch in Q4 2014.  

“We believe that the selection of Bloomberg’s Bond Auction System reflects the continuing commitment of the Government to develop the domestic bond market, and ultimately the financial market. Mongolia is on a rapid growth trajectory in the long-term and developing the domestic financial market is the cornerstone of such success,” said H.E. Minister Ulaan.

“We are delighted to add the Mongolian Government to a growing list of worldwide issuers that are using our bond auction platform,” said David Tamburelli, Bloomberg’s Head of Emerging Markets Product. “Bloomberg’s bond auction system allows primary issuers to mitigate operational risks while providing market participants with an efficient, secure bidding environment.”

 

 

 Public Relations Department

MONGOLIAN STOCK EXCHANGE