Asian brokerage CLSA Asia Pacific Markets is offering institutional investors access to onshore equities traded on the Mongolian Stock Exchange.
CLSA will offer cash equity trading in Mongolia via an introducing broker agreement with BDSec Joint Stock Company. BDSec is the largest brokerage company in Mongolia, covering approximately 17% of domestic account holders and 47% of foreign account holders.
“CLSA is one of the first foreign brokers to be able to offer institutional investors access to this new domestic frontier market,” said Andy Maynard, CLSA global head of trading and execution. “While liquidity levels are not yet high, the potential of this resource-rich market and the flow of foreign investment make Mongolia an attractive market for investors.”
Based in Hong Kong, CLSA has over 1,500 staff located in 20 cities across Asia Pacific, as well as the UK and US. CLSA’s major shareholder is France’s Credit Agricole.
CLSA signed an agreement with UK telecoms provider BT for its global communications network in December. The deal was valued at £45 million and covered managed voice, data and trading system solutions across 14 countries in the Asia Pacific region, the UK and the US.