The Casablanca Stock Exchange is a stock exchange

Stock exchange

A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...

 in Casablanca

Casablanca

Casablanca is a city in western Morocco, located on the Atlantic Ocean. It is the capital of the Grand Casablanca region.Casablanca is Morocco's largest city as well as its chief port. It is also the biggest city in the Maghreb. The 2004 census recorded a population of 2,949,805 in the prefecture...

, Morocco

Morocco

Morocco , officially the Kingdom of Morocco , is a country located in North Africa. It has a population of more than 32 million and an area of 710,850 km², and also primarily administers the disputed region of the Western Sahara...

. The Casablanca Stock Exchange (CSE), which achieves one of the best performances in the region of the Middle East and North Africa (MENA), is Africa's third largest Bourse after Johannesburg Stock Exchange (South Africa) and Nigerian Stock Exchange in Lagos. Africa

Africa

Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...

 http://www.map.ma/eng/sections/box4/casablanca_stock_exc/view. It was established in 1929 and currently has 16 members and 77 listed securities with a total market capitalisation of $66,3 billion as of December 27, 2008 .

The exchange is relatively modern, having experienced reform in 1993. The CSE installed an electronic trading system

Electronic trading

Electronic trading, sometimes called etrading, is a method of trading securities , foreign exchange or financial derivatives electronically...

, and is now organized as two markets: the Central Market and a Block Trade Market, for block trades.

In 1997 the CSE opened a central scrip depository, Maroclear.

Indexes

Originally, CSE had the Index de la Bourse des Valeurs de Casablanca (IGB) as an index. IGB was replaced on January 2002 by two indexes:

MASI

MASI

MASI index

The MASI index is a stock index that tracks the performance of all companies listed in the Casablanca Stock Exchange located at Casablanca, Morocco. It is one of two main indices at the bourse, the other being the MADEX ....

 (Moroccan All Shares Index), comprises all listed share

Share (finance)

A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...

s, allows to follow up all listed values and to have a long-term visibility.

MADEX

MADEX

MADEX index

The MADEX index is a stock index that comprises most active shares listed continuously in the Casablanca Stock Exchange with variations closely linked to all the market serves as a reference for the listing of all funds invested in shares...

 (Moroccan Most Active Shares Index), comprises most active shares listed continuously with variations closely linked to all the market serves as a reference for the listing of all funds invested in shares.

Performance reports

The stock markets of Casablanca and Tunis (Bourse de Tunis

Bourse de Tunis

The Bourse des Valeurs Mobilières de Tunis or Bourse de Tunis is a stock exchange based in Tunis, Tunisia. It was founded in 1969, and currently lists around 50 stocks....

) are covered in a quarterly report on Arab

Arab

Arab people, also known as Arabs , are a panethnicity primarily living in the Arab world, which is located in Western Asia and North Africa. They are identified as such on one or more of genealogical, linguistic, or cultural grounds, with tribal affiliations, and intra-tribal relationships playing...

 stock exchanges established by the Abu Dhabi

Abu Dhabi

Abu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...

-based Arab Monetary Fund

Arab Monetary Fund

The Arab Monetary Fund is a regional Arab organization, founded 1976, and operational from 1977. It is a working sub-organization of the Arab League.-Objectives:...

. The report includes individual indices for each market, as well as a weighted composite tracking four Middle East

Middle East

The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...

ern and two North African stock exchanges.

Related organizations

• Central Bank of Morocco
  Bank Al-Maghrib
  The Bank Al-Maghrib is the central bank of the Kingdom of Morocco. It was founded in 1959, and is based in Rabat. It holds reserves of foreign currency with an estimated worth of USD 36 billion . In addition to currency management, the Bank Al-Maghrib also supervises a number of privatized banks...
  
   (BAM)
• Brokage Firms Association (APSB)
• The Deontologic Council for Securities (CDVM)
• Moroccan Trust Companies and Investment Funds Association (ASFIM)
• Moroccan Companies General Confederation (CGEM)
• Moroccan Banks Professional Grouping (GPBM)
• Ministry of Finance & Privatization

See also

• Economy of Morocco
  Economy of Morocco
  Morocco's economy is considered a relatively liberal economy governed by the law of supply and demand. Since 1993, the country has followed a policy of privatization of certain economic sectors which used to be in the hands of the government. Morocco has become a major player in the African...
  
  
• List of African stock exchanges
• List of Mideast stock exchanges
• List of stock exchanges