Mongolian Agricultural Commodity Exchange
 | |
| Commodities exchange | |
| Founded | March 2013 |
| Headquarters | Ulaanbaatar, Mongolia |
| Products | Spot contracts |
| Owner | State |
| Website | www.mce.mn |
Mongolian Commodity Exchange (in Mongolian, Монголын Хөдөө Аж Ахуйн Бирж), MCE is a commodities exchange which regulates trading of spot contracts underlined by a variety of agricultural products in Mongolia. So far, spot contracts on agricultural products including cashmere, wool, colza and live cattle are traded on MCE.
There is no other commodities exchange in Mongolia. Mongolia currently has only two exchanges: The Mongolian Commodity Exchange and The Mongolian Stock Exchange.
History and development
MCE was established in March 2013 by the resolution No. 40, dated February 7, 2013 issued by the State Property Committee of Mongolia and the resolution No. 30, dated January 28, 2013 issued by the Government of Mongolia as stated in Law on Agricultural Products and Raw Materials Exchange which was adopted in 2011. MCE is 100 percent state-owned company and its regulatory bodies are including Financial Regulatory Committee and Ministry of Industry and Agriculture of Mongolia.
MCE was the first and only commodities exchange in Mongolia and its first official trading has conducted on April 5, 2013.
As of December 2014, the exchange had 32 members.
Trading
In 2013, total trading volume and turnover reached MNT 403.6 billion (224 million USD) and daily trading volume was MNT 3.1 billion (1.7 million USD). So far, below-mentioned spot contracts can be traded on the exchange.
- Cashmere
- Wool
- Colza
- Live cattle (Sheep, Goat, Cattle, Yak and Horse)
- Wheat
Holidays and Trading Hours
Each market will open at 11 a.m. and close at 12 p.m. on business day. All markets observe Mongolian national holidays as listed here.
- New Year's Day, January 1
- Lunar New Year, First three days of the lunar year
- International women's day, March 8
- Mothers' and Children's, June 1
- Naadam Holiday, July 11–13
- Chinggis Khan's birthday, First day of the first winter month of the year
See also
References
- Annual Report 2013, MCE
- Half-year Report 2014, MCE
External links
- (Mongolian) www.mce.mn
Category:Commodities exchanges