Bourse de Casablanca (Casablanca Stock Exchange)

Exchange entity Bourse de Casablanca
Conducts business in Morocco
Number of listed companies (dec./16, WFE) 75
Domestic market capitalization (in Millions USD, dec./16, WFE) 58,050
Has signed the SSE Commitment Letter? Yes
Requires ESG reporting as a listing rule? No
Offers written guidance on ESG reporting? Yes
Offers ESG related training? No
Provides sustainability-related indices? No
Has green bond listings? No
Additional Information
Organizational model of stock exchange
  • Private company for profit
Regulatory bodies
Regulatory model
  • Limited Exchange Self-Regulatory Organization (SRO) Model Very few exchanges in the MENA region are entirely self-regulated. The Conseil Deontologique des Valeurs Mobilières (CDVM) is the primary regulatory authority in Morocco and is responsible for issuing listing requirements and overseeing the Casablanca Stock Exchange. Additionally, most regulatory laws adhered to in Morocco have come by royal decree. As a result, the Casablanca Stock Exchange has limited regulatory power.
About the stock exchange
  • Location: Casablanca, Morocco The Casablanca Stock Exchange was established in 1929. At that time, it was known as the “Office de Compensation des Valeurs Mobilières” (Office for Clearing of Transferable Securities). The growing importance of the securities market and the introduction of foreign exchange controls prompted the authorities at that time to improve and regulate the Stock Exchange’s organisation and operations. The market’s organisational shortcomings hindered however its attractiveness at a time when domestic investors showed a growing interest in stock market investment. To overcome such shortcomings, reforms were undertaken in 1967, providing Morocco’s financial markets with a well-organised legal and technical framework. Following these reforms, in 1986, Morocco embarked on a Structural Adjustment Programme which was completed ten years later. This Programme enabled Morocco to consolidate its fundamentals and successfully bring under control its high level of debt and inflation. Source