LSEG to partner with Casablanca exchange
Following the agreement, LSEG will share its expertise on the full exchange business chain, including listing, trading, clearing, settlement and custody. It said it is committed to working with the Moroccan authorities to position Casablanca’s capital markets and financial infrastructure as a regional hub.
“This strategic partnership holds huge potential for future business opportunities within Morocco and the wider North West and Central Africa region, and we hope that it will serve to strengthen the economic ties between the UK and the region,” said Xavier Rolet, CEO of LSEG.
“
In addition, MillenniumIT, part of LSEG, will provide trading and market surveillance technology to CSE.
“Morocco is a key player in the region and this partnership will create further opportunities for MillenniumIT in North West and Central Africa,” said Mack Gill, CEO of MillenniumIT.
The agreement, signed by Xavier Rolet, CEO, LSEG and Karim Hajji, CEO of CSE, took place at a special ceremony.
CSE is one of the most developed markets in Africa with a market capitalisation of 469bn Moroccan dirhams ($57bn) in May 2014, which represents 54% of Morocco's GDP.
More than 30% of the capitalisation is owned by international investors. Some 74 listed companies achieve a turnover of 250bn dirhams, which is 25% of the country's GDP, and generate nearly 26bn dirhams net income.
Found this useful?
Take a complimentary trial of the FOW Marketing Intelligence Platform – the comprehensive source of news and analysis across the buy- and sell- side.
Gain access to:
- A single source of in-depth news, insight and analysis across Asset Management, Securities Finance, Custody, Fund Services and Derivatives
- Our interactive database, optimized to enable you to summarise data and build graphs outlining market activity
- Exclusive whitepapers, supplements and industry analysis curated and published by Futures & Options World
- Breaking news, daily and weekly alerts on the markets most relevant to you