In accordance to the “Securities markets law” article 19.2.2 “…. to set up membership, seat fee, and other service related fees” Mongolian Stock Exchange collects service fees from member broker dealer companies. It states in article 12.3 of the “Membership regulation” “Members are obliged to pay fees as set and within the time limit given by the Exchange”; in article 2.4.7 of “Cooperation agreement” made with member companies “…. to pay annual membership fee in two equal but separate installments on 15th February and 15th May of every fiscal year and terminal fee made by the 10th of every month”.

Mongolian Stock Exchange has been continuously supporting the operations of member companies. Such as, providing the Mongolian Association of Securities Dealer’s /MASD/ request to lower annual membership fee MSE has postponed the payment of annual membership fee from 2012 until now without any undue loss and fine, decreased trading commission by 20 percent and provided access to trade from distance free of charge. 

Furthermore, MSE had a meeting with MASD Chairman and Board members on 8th May 2013 and agreed to lower annual membership fee to MNT 1.5 million regardless of a membership type, exempt terminal fee for 2 years, and members to pay membership fee due of the years 2012-2013, 2013-2014 within 1st July 2013. MSE introduced such reached agreement to the Board of Directors meeting and get proper decisions. 

In order to secure stability in the securities market, protect investors and clients rights, to ensure the compliance of relevant laws and regulations, MSE sent its requirement to the member companies to pay unpaid annual membership fees within 30th June 2013. Based on the article 17.1 of “Membership regulations” and article 4.2 of “Cooperation agreement”, companies that have not fulfilled their obligations will be suspended to participate in securities trading starting 1st July 2013. 

Public relations department

MONGOLIAN STOCK EXCHANGE