Casablanca Stock Exchange


The Casablanca Stock Exchange is a stock exchange located in Casablanca, Morocco. It is the second-largest stock exchange in Africa, after the Johannesburg Stock Exchange.
Established in 1929, the Casablanca Stock Exchange plays a central role in the Moroccan financial market. As of August 2025, it comprised 17 brokerage firms and 78 listed companies, with a total market capitalisation of approximately 1.043 trillion MAD.
The exchange underwent significant reforms in 1993, which led to the modernization of its regulatory framework and trading infrastructure. An electronic trading system was introduced, and the market was reorganized into two segments: the Central Market and the Block Trade Market, dedicated to block trades.
In 1997, the Casablanca Stock Exchange established a central securities depository, Maroclear, to ensure the clearing and settlement of securities transactions.
WWW casablanca-bourse.com/ar

History

Since its establishment in 1929, the Casablanca Stock Exchange has undergone several successive reforms, both legal and technical, aimed at adapting its operations to developments in national and international financial markets.
In early 2008, the Casablanca Stock Exchange adopted the NSC V900 trading system, also used by Euronext, further enhancing the automation and transparency of transactions. Market capitalisation exceeded €67 billion by mid-2008, while average daily trading volume surpassed €100 million.
During the 2010s, average daily trading volume was estimated at approximately €10 million in 2014. At the same time, the Casablanca Stock Exchange continued to adapt its institutional framework and infrastructure, notably through changes to its legal status and the strengthening of its role in financing the Moroccan economy.
In the 2020s, the exchange consolidated its position among the leading African stock exchanges, with a market capitalisation exceeding 1,000 billion dirhams, reflecting market expansion and changes in the valuation of listed companies.

Indexes

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

MASI

MASI, comprises all listed shares, allows investors to follow all listed values and to have a long-term visibility.

MADEX

MADEX, 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.
This index was replaced by MSI20 from the starting of 2022.

CFG 25

CFG 25 consists of 25 stocks listed on the Casablanca Stock Exchange and about 80% of the total market capitalization of all the companies listed on the Casablanca Stock Exchange.

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