Stock exchanges
Number of listed companies
Domestic market capitalization
million US$

Mongol Securities Exchange

Name Mongol Securities Exchange
Country Mongolia
Number of listed companies 1
Domestic market capitalization 1258 million US$
SSE Partner Exchange Yes
Has annual sustainability report No

ESG reporting required as a listing rule No

  • However, has committed to amend MSX listing requirements reflecting ESG reporting requirements.

Has written guidance on ESG reporting No

  • However, guidance is currently being developed.

Offers ESG related training No

Market covered by sustainability-related index No

Has sustainability bond listing segment No

Has SME listing platform No

  • However, MSX offers a development board for SMEs and they can be listed on the main board once they meet the main board requirements.

Additional information
  • MSX has been committed to promoting sustainable development and long-term sustainable investment. The exchange also has additional requirements for mining and infrastructure companies and require them to submit reports written and signed by Competent Persons complying with global standard codes.

Organizational model of stock exchange
  • Privately-owned exchange.

Regulatory bodies

Regulatory model
Limited exchange Self-Regulatory Organisation (SRO)

  • MSX is a recognized exchange under the Securities Market Law of Mongolia and has acquired trading and clearing licenses from FRC. The regulatory body, FRC, performs a lead role in market regulation and approves the exchange rules. The exchange is responsible for supervising trading activities to ensure a transparent, fair & orderly market within the framework of applicable rules & regulations.

About the stock exchange
Location: Ulaanbaatar, Mongolia

  • MSX is the only private-owned for profit stock exchange in Mongolia, and has developed its’ rules and regulations reflecting global standards and benchmarks. The Exchange has introduced several concepts to the Mongolian capital market for the first time, including market makers, compliance advisors, different market systems and clearing process. MSX aims to be an exchange with a world-leading platform which meets investors’ demand, and to gradually develop the better stock market for the benefit of all, reaching global benchmarks.

Stock Exchange Database Criteria

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.


Criteria Considered

Conducts business in Country or Market in which the stock exchange operates
Number of listed companies (Date updated) Updated either by the stock exchange directly or using WFE data
Domestic market capitalization  Updated either by the stock exchange directly or using WFE data
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include: 

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.