Automated system allows online transactions, payment, control and savings capabilities
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| Ribbon-cutting ceremony at the Mongolian Stock Exchange by Mongolian and Australian dignitaries |
On December 17, Prime Minister N.Altankhuyag attended a launching ceremony for the MSE’s new comprehensive system called Millennium IT. The PM noted that this is the second wave of changes in the Mongolian Stock Market that enables the MSE to work at international standards and opens new opportunities for citizens and companies to expand their businesses. “A massive privatization program of twenty years ago laid the foundation for people to have their own businesses and a stock exchange was established for the first time”, he mentioned. Mr. David Lester, Director of Corporate Strategy of the London Stock Exchange Group, said that the new system was tested and installed in just 18 months in Mongolia; whereas, it took several decades in some nations to introduce similar systems. This was a significant achievement, he added.
The Government has been working with the London Stock Exchange at the strategy and management level to bring Mongolia’s Stock Exchange’s (MSE) activity to international standards. Within the cooperation,
a comprehensive information technology system Millennium IT was installed and came into operation at the MSE.
MSE has been operating the Millennium IT system since July this year, testing the software and making necessary modifications throughout the system. Key professionals and brokerage firms had a chance to attend training and learn the system in this short period of time, making it possible for the software to be fully
operational and be handled by the national team.
Millennium IT, a leading technology solutions provider and part of the London Stock Exchange Group, provides a fully automated trading system with transaction, payment, control and savings capabilities.
Source: THE MONGOL MESSENGER
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