One of the most recent advances in the Mongolian capital market is the development of the dual-listing regulation written in cooperation by the FRC and MSE and the first-ever cross-listing of foreign issuer, Erdene Resource Development Corporation, a Toronto-listed company. The shares of Erdene Resource Development Corporation is currently not fungible between the two markets, however there are no restrictions on share fungibility in the Securities Markets Law and the relevant matters can be regulated by rules. Enabling fungibility of cross-listed shares shall have various benefits such as ensuring consistency of the share prices between markets and improving the supply and the liquidity in Mongolian market, therefore MSE sent an official request to FRC to cooperate on producing relevant regulations for enabling share fungibility.

MONGOLIAN STOCK EXCHANGE