Xavier Rolet, chief executive, LSEG
“This extension of our partnership with Moroccan market infrastructure providers represents another important step for new business and investment opportunities across North West and Central Africa.”
Moroccan CSD, Maroclear signs cooperation agreement with London Stock Exchange Group and Monte Titoli.
London Stock Exchange Group and Maroclear, the Moroccan Central Securities Depositary (CSD) have, signed a cooperation agreement to expand the range of services LSEG provides to market participants in Morocco.
As part of the agreement, Maroclear has signed an assisted registration partnership with LSEG for the allocation of Legal Entity Identifiers (LEIs) for the Moroccan market. LSEG’s CSD, Monte Titoli, will provide its Moroccan counterpart, with access to European securities settlement infrastructure. This will allow Maroclear clients to settle cross-border trades in Europe and give them access to the TARGET2 Securities (T2S) regime when it is introduced in June 2015.
A market open ceremony, attended by Moroccan Minister for SMEs, Mr Mamoune Bouhdoud, was held at London Stock Exchange to celebrate the contracts’ signing and the extension of agreements between the two financial hubs. In June 2014, London Stock Exchange Group and Casablanca Stock Exchange (CSE) announced a strategic agreement to expand CSE’s activity in the North Western and Central African regions.
Xavier Rolet, Chief Executive, LSEG said: “This extension of our partnership with Moroccan market infrastructure providers represents another important step for new business and investment opportunities across North West and Central Africa. By expanding the range of capital markets services available to Moroccan institutions and market participants, we can ensure economic ties between the UK, Europe and the region are further strengthened.”
Mr Mamoune Bouhdoud, Moroccan Minister for SMEs said: “It is a pleasure to open trading in London to celebrate the strengthening of the strategic relationship already established between London Stock Exchange and the financial community in Morocco. By working together we can establish a world-class market in Morocco which will benefit the African continent and the region as a whole.”
