On September 18, 2021, Bogd Bank, Ulaanbaatar, signed a settlement banking contract with Mongol Securities Exchange (UBX) and confirmed its cooperation.
A settlement bank for an exchange is a bank that is responsible for central securities clearing and settlement of securities of settlement members, opening current accounts, and making relevant payments based on the Exchange's payment order in accordance with the agreement. In addition, the Exchange's collateral and deposit accounts will be located with the settlement bank. As a result of Bogd Bank's cooperation, the number of organizations engaged in payment operations for professional participants has increased, and, as a result, customers’ preferences have increased as well.
In addition, Bogd Bank announced its intention to become a member of the Exchange's Clearing House.
Bogd Bank was established in 2014 as the youngest bank. Still, in a short period, it expands its operations, gains a foothold in the Mongolian market, introduces modern innovative products and services, and aims to become a well-known bank of the new century. Bogd Bank is also working to make its shares public this year.
Mongol Securities Exchange JSC was established on May 1, 2015. It has successfully operated in the securities market since it was licensed by the Financial Regulatory Commission to conduct securities trading and clearing activities.
Mongol Securities Exchange JSC
For more information:
“Mongol Securities Exchange” JSC
Contact phone: (+976) 7000-0501
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