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Хадгаламжийн Сертификат ба Кастодиан банк
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1. ................................................................................................................................32. ....................................................................................................................................4 3. 3.1 , ..............................................................................53.2 , , 3.2.1 ?....................................................................7 3.2.2 ?......................................................................................8 4. 4.1 4.1.1 ...........................................................................11 4.1.2 ....................................................12 4.1.3 , .............................................12 4.1.4 - ....16 1...................................................................................................16 4.2 ...............................................17 2.........................................................................................................205. ................................................................................................................................211.............................................................................................................................222.............................................................................................................................23
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1927 J.P.Morgan Selfridges , - . :1930-1989 . - . 1940 . 1970- . 1980- , . 1980-
1990-2000 - . - , , . , , , . 1990- , . , .[footnoteRef:1] [1: : - .- ]
2003-2007 - . . - (Bank of New York Mellon) - . :2010 14 104 BNY Mellon - 57%- , Citi 18%, Deutsche Bank 14%, JP Morgan Chase11%- .2010 124 (DR-depository reciept) 3,1 , , .[footnoteRef:2] [2: Mongolian-investment.com]
- PPCA Inc.- (MBA), (MS), (CIMA-Certified Investment Management Advisor) (Ron Surz) 2007 (Perspecives on American depository Receipts) . ADR (American DR) EAFE (Europe, Australasia, Far East) , . . , , ADR . 2007 . , , , - , . , , , . , . , . : . . .[footnoteRef:3] . 2006 2010 . , . . [3: masd.mn/stat/files/lesson/BTlesson1-1.pdf]
3.2 , ,
3.2.1 ? (-, , - ) . : , , . . . , , . . . . , . - : - - .
, . . . - , /diversification/ . - , , , . , . .
- : , IPO . - . , . , , , , . .
3.2.2 ? , . . . :
( , ) , Forex ( ) SWIFT , , , Market Guide, Newsflashes .
,
1 : . . .
1: - , . - . . . : . , , , , , .[footnoteRef:4] [4: http: mongolianminingjournal.com]
/01.01. 2012/
/
(,) (, )
1NYSE Euronext (US & Europe) - 20,16114,242
2NASDAQ OMX (US & North Europe) 13,5524,687
3Tokyo Stock Exchange 3,9723,325
4London Stock Exchange 2,8373,266
5Shanghai Stock Exchange 3,6582,357
6Hong Kong Stock Exchange- 1,4472,258
7Toronto Stock Exchange 1,5421,912
8BM&F Bovespa 9311,229
9Australian Securities Exchange 1,1971,198
10Deutsche Brse 1,7581,185
11SIX Swiss Exchange 8871,090
12Shenzhen Stock Exchange2,8381,055
13BME Spanish Exchanges 1,2261,031
14Bombay Stock Exchange 1481,007
15Korea Exchange 2,029996
16National Stock Exchange of India 985
17JSE Limited 372789
18MICEX 514771
2: -10 [footnoteRef:5] [5: thomasmurray.com/component/idoblog/viewpost/199]
- . , , , , . . . 1409 . . . /1460/, /1462/, /1530/, /1540/, /1540/, /1585/- . 1460 , . 1792 - 24 , - - .[footnoteRef:6] [6: Frc.mn / ]
( )
BNY Mellonwww.bnymellon.com$254 billion$24.4 trillion$32.9 billion
BNP Paribaswww.bnpparibas.com2.0 trillion*4.0 trillion$69.5 billion
BBHwww.bbh.com$6.1 billion$2.4 trillion$550 million
Citiwww.citigroup.com$1.9 trillion$11.3 trillion$165.8 billion
HSBCwww.hsbcnet.com$2.4 trillion$4.8 trillion$135.7 billion
J.P. Morganwww.jpmorgan.com$2.0 trillion$15.9 trillion$165.4 billion
Northern Trustwww.northerntrust.com$80.7 billion$3.9 trillion$6.8 billion
RBC Dexiawww.rbcdexia.comC$726 billion**$2.7 trillionC$38.9 billion**
SGSSwww.sg-securities-service.com1.15 trillion3.4 trillion45.6 billion
State Streetwww.statestreet.com$173 billion$20.2 trillion$17.6 billion
3 : http://www.relbanks.com/stock-exchanges
4. 4.1 :1. . 1991-1995 2. 1995-2005 3. , 2005- 4. -
4.1.1 . 1991-1995 1990 . 1991 , 1992- 1995 475 , 8.2 96.1 1995 , 1991 , [footnoteRef:7] . , , . [7: http: mongolianeconomy.mn . .]
4.1.2 1995-2005 , .
4.1.3 , 2005- 2005-2012 17
2012 IPO -/ //
1 1,999,768.00 2,022,528,900.00
2 1,000,000.00 800,000,000.00
3 8,400,014.00 3,375,346,500.00
4 5,820,299.00 582,029,900.00
5 6,738,361.001,128,474,814.00
6 10,000,000.00 1,000,000,000.00
7 78,895,885.00 8,259,239,676.00
8 13,200,000.00 13,200,061,250.00
9 23,562,900.00 2,356,290,000.00
10 18,618,171.00 20,107,624,680.00
11 50,488,202.00 5,048,820,200.00
12 30,395,272.00 3,195,456,280.00
13 692,432.0069,243,200.00
14 1,180,195.00 270,264,655.00
15 16,222,300.003,650,017,500.00
16 1,646,257.00 18,301,439,069.00
17 7,700,000.00 924,000,000.00
276,560,056.00 84,290,836,624.00
4 : mse.mn, gauli.mn
- 23.4 . 53 . , , . 3- 2011 - 1,6 18,3 , - 16,2 3,6 . 2012 - 7.7 , 924 . [footnoteRef:8]. [8: Mse.mn]
, IPO , . . : IPO , , . , . . , . : , . , , .
/2012 / / /
1-30304345,40216,171,99,8831,6012,007,967,717
31-5081111,124302,038,785107144,168,889
51-808268,251555,038,56982324,441,558
81-100384,53717,076,727,3323815,555,076,070
5: - . http://www.masd.mn/ . , . 627 , 67 .[footnoteRef:9] [9: Frc.mn]
.
1[footnoteRef:10]- - . 300 , 20 -20 . [10: 2012 3 ]
2012 10 31- - 1,660,643,529,560.0 507,926,454,639.00 23.4 .
2 : 2012 3
2011 , , . 2012 , , , , . 2011 04- 07- // // - , [footnoteRef:11] 2011 07 02- . +3 , . , , , , , . 2012 7 02- 2012 10 29- 1.42 1.03 , 54.6 , 256.5 , 74.6 . - , . /1- 1: , / [11: Millennium IT Millennium Exchange, Millennium CSD, Millennium Surveillance, Millennium Trader MIT ]
- - . Bloom Berg ( ) . //- //- , T+3 .4.1.4 - IPO . , , . - , . , , , -, 36 . . , . /2 6: /
:1 15 . , - . Mongolian mining Corporation 4-5 30 . .[footnoteRef:12] 5-10 1,5-3 . . , . . - , . , . . , , . [12: - . ]
IPO . , , - , , .
4.2 , , , . .[footnoteRef:13] , .[footnoteRef:14] [13: - 2011 23- 45 , 6.2- - ] [14: Frc.mn]
-
20
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7: - ( )
-
( ) 3-
.
8: - ( ) - , .BNP Paribas :[footnoteRef:15] [15: Bnpparibas.com ]
1. , 2. 3. 4. 5. 6. 7. 8. 9. 10. , 11. 12. 13. 9: //[footnoteRef:16] [16: Frc.mn]
20 - 8- . - , , , . 2013 . , .[footnoteRef:17] [17: Parliament.mn]
IPO . 10
TSX:43-101200 ..
ASX200 ..
LSE, :43-101,LSX500 ..200 ..
11 , ,, - . . . . , , .
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:2 , , , . BNP Paribas, BNY Mellon, Deutsche Bank 2 , . - , . , , , , , , .
, . . . . -20 , , , , . . . - , , , , .
1 , +3
+0 +0
+1- +3- +1 +1
+3 +3
- . . +1 +1
+3 +3
1: - [footnoteRef:18] [18: schcd.mn]
RTGS, E-clearing, MIT
2 IPO -/ / ///
1 Ivn:us-6,072,215%
2 CG:cn, 1878:hk2,855,715%
3 Jogrc,1878::HK2,223,515%
4 Jogrc2,222,014%
5 Etas:CN426,14,62%
6 381:Hk, Jorc278,63,41%
7 ETG:CN,NL43-101217,12,98%
8 Mato:Ln,211,32,38%
9 61:HK,JORC1412,66%
10 OPP:LN133,82,64%
11 HUN:AU,JOURC123,62,56%
12 TTL:MO88,52,32%
13 APU:MO84,52,31%
14 PCY:CN,NL-43-10156,92,06%
6: : www.masd.mn
2
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