Bourse de Casablanca

What Bourse de Casablanca does

Bourse de Casablanca SA is Morocco's sole regulated stock exchange, operating as the national securities trading infrastructure since its founding in 1929. The exchange provides two primary market segments: the Marché comptant (spot market) for trading equities, bonds, rights, and funds, and the Marché à terme (derivatives market) launched in 2025 offering futures contracts on the MASI 20 index. The exchange is supported by two wholly-owned subsidiaries: SGMT (Société Gestionnaire du Marché à Terme) for futures market management and CCM (Chambre de Compensation du Maroc) for clearing and settlement services, with Maroclear serving as the integrated central securities depository. The platform hosts approximately 76 listed companies across 30+ sectors with total market capitalization exceeding 1 trillion MAD, and daily trading volumes regularly exceed 100 million MAD.

The exchange generates revenue through trading and transaction fees on securities transactions, listing fees from issuers, market data subscriptions and statistical publications, and derivatives clearing and trading fees. It serves four primary segments: listed companies (issuers seeking capital market access), institutional and retail investors (seeking trading opportunities), financial intermediaries (banks, brokerage firms executing trades), and regulatory authorities (AMMC oversight). The exchange is organized as a Société Anonyme under Moroccan regulatory oversight and is not publicly listed. Its go-to-market is sales-led, reaching issuers through IPO advisory services and investors through education programs and accessible market data platforms, with distribution through direct exchange operations and a network of authorized financial intermediaries.

The exchange's strategic direction includes product diversification through derivatives, expanded issuer listings, and digital channel development (including a WhatsApp channel and live market data portal). Under the leadership of Director General Nasser Seddiqi (appointed 2025), the exchange has launched multiple new instruments and listings, signaling a growth-oriented agenda within the regulatory constraints of operating as a national monopoly infrastructure provider.

Name

Bourse de Casablanca

Legal name

Bourse de Casablanca SA

Website

https://casablanca-bourse.com

Company type

Private

Founded year

1929

Operating status

Operating

Headcount range

101–250 employees

Short description

Bourse de Casablanca SA is Morocco's sole regulated stock exchange, operating spot and derivatives markets for ~76 listed companies across 30+ sectors, with over 1 trillion MAD in total market capitalization and integrated clearing and settlement infrastructure.

Ownership category

akta.pro rank

Product category

Securities Exchange

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Commodity Derivatives Exchanges (Futures & Options on Commodities) (FSAFAMAG)

akta.pro secondary industry

Commodity Market Data, Pricing & Benchmark Administrators (Commodity Indices/Assessments) (FSAFAMAJ)

Keywords

• Stock exchange operations
• Securities trading infrastructure
• Derivatives market services
• Market data products
• Issuer listing services

Headquarters

HQ city

Casablanca

HQ country

Morocco

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Trading and Transaction Fees: Fees collected on securities transactions executed through the exchange, including spot market and block trades
2. Listing Fees: Initial and ongoing fees charged to listed companies for admission, stay, and regulatory compliance services
3. Market Data Products: Statistical publications, historical data, and data products sold to market participants and third parties
4. Derivatives Market Revenue: Clearing and trading fees from the futures market and other derivative instruments

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Bourse de Casablanca operates as Morocco's national stock exchange, providing regulated trading infrastructure for the spot market (Marché comptant) covering equities, bonds, rights, and funds, and the derivatives market (Marché à terme) including futures on the MASI 20 index. The exchange delivers listing services for issuers, real-time market data dissemination, statistical publications, index family administration (MASI, MASI 20, MASI ESG, sectoral indices), and post-trade clearing and settlement through its subsidiary Chambre de Compensation du Maroc (CCM).

Product overview

Bourse de Casablanca operates as Morocco's national stock exchange, offering a unified platform combining spot market trading (Marché comptant) for equities, bonds, rights, and funds with a derivatives market (Marché à terme) for futures contracts including the MASI 20 index futures. The platform is supported by two key subsidiaries: SGMT (Société Gestionnaire du Marché à Terme) managing futures operations and CCM (Chambre de Compensation du Maroc) handling clearing. Core digital services include Live Market (real-time market data), statistical publications, issuer listings, financial calendars, and index composition/historical data products. The exchange also provides analysis and research services for investors and listed companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Marché comptant (Spot Market)
• Marché à terme (Derivatives Market)
• Future sur MASI 20
• Live Market Data Platform
• Produits Data (Data Products)
• Éditions statistiques (Statistical Publications)
• Listing des émetteurs (Issuer Listing Services)
• Index Family (MASI, MASI 20, MASI ESG, sectoral indices)
• Analyses et recherches (Analysis and Research)
• Calendrier financier (Financial Calendar)

Quantifiable outcome

• Total market capitalization exceeding 1 trillion MAD across 76+ listed securities
• +1 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• AMMC (Autorité Marocaine du Marché des Capitaux)coreStrategic or Co-development PartnerThe exchange operates under AMMC regulatory oversight and approval. AMMC visa is required for new instruments like the Future sur MASI 20, making this partnership essential to exchange operations.
• CDG (Caisse de Dépôt et de Gestion)coreStrategic or Co-development PartnerCDG is a major shareholder in listed companies and acts as a key institutional investor in the Moroccan capital markets ecosystem.
• Maroclear (Central Securities Depository)coreTechnology or IntegrationSecurities depository and settlement infrastructure integrated with exchange trading systems for efficient post-trade processing.
• Financial Market OperatorscoreStrategic or Co-development PartnerNetwork of authorized intermediaries, custodians, and financial institutions that execute and settle trades through the exchange infrastructure.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Euronext: Pan-European exchange operator running multiple national equity and derivatives markets. Comparable as a major exchange operator with a diversified product suite and a listing/fee-based revenue model, though at much greater scale and geographic breadth.
• Deutsche Börse: German exchange operator with a broad portfolio of cash, derivatives, and market-data services. Comparable as a major exchange operator with multiple revenue streams (transaction fees, listing fees, data products), though at a far larger scale.
• London Stock Exchange Group (LSEG): Global exchange operator with cash equities, derivatives, and a dominant market-data franchise (FTSE Russell indices). Comparable as a diversified exchange infrastructure provider, though LSEG is among the largest globally.

Regional players

• Egyptian Exchange (EGX): Egypt's national securities exchange operating spot and derivatives markets for equities, with a regulated monopoly structure and similar emerging-market footprint. Directly comparable as a North African regulated exchange listing stocks across similar sector mixes.
• Saudi Exchange (Tadawul): Saudi Arabia's national exchange, the largest in MENA, operating spot and derivatives markets under a similar regulated monopoly model. Comparable as a MENA equity exchange with index family, derivatives franchise, and similar regulatory framework.
• Tunis Stock Exchange (BVMT): Tunisia's regulated securities exchange operating as a monopoly national venue with a comparable scale of listed companies and similar Maghreb market characteristics. Direct peer for cross-Maghreb capital market comparisons.
• Johannesburg Stock Exchange (JSE): Africa's largest and most developed stock exchange, operating equity, derivative, and commodity markets. Comparable as a regulated monopoly African exchange with a sophisticated index family and derivatives franchise.
• Nigerian Exchange Group (NGX): Nigeria's national exchange, an African regulated monopoly with a comparable emerging-market positioning and a recent push to launch derivatives. Comparable as an African equity exchange with a similar regulatory and structural profile.
• Abu Dhabi Securities Exchange (ADX): UAE's national securities exchange with comparable MENA positioning, regulated monopoly status, and a focus on equity listings and derivatives. Direct regional peer serving institutional and retail investors.
• Dubai Financial Market (DFM): UAE national securities exchange operating spot and derivatives markets with a similar monopoly structure in its home jurisdiction. Comparable MENA exchange with comparable product suite and listed-company scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/boursedecasa
• Facebookfacebook.com/107582089265132

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bourse de Casablanca