London Stock Exchange Signs Partnership With Casablanca Stock Exchange

The London Stock Exchange Group (LSEG) and Casablanca Stock Exchange (CSE) have signed a strategic agreement to expand CSE’s activity in the North Western and Central African regions.

The agreement stipulates that LSEG will share its expertise on the full exchange business chain including listing, trading, clearing, settlement and custody, with the goal being to position Casablanca’s capital markets and financial infrastructure as a regional hub. In addition, MillenniumIT, a technology arm of LSEG, will provide trading and market surveillance technology to CSE. The LSEG says the partnership holds huge potential for future business opportunities within the region.

A number of Moroccan and British officials presided over the signing ceremony, including the British ambassador to Morocco, Clive Alderton, who said: “This deal has important strategic political—as well as economic—significance. It underscores the growing importance of the U.K.’s bilateral relationship with Morocco, based on 800 years of friendship. On the U.K. side it provides a strong example of partnership between Government and the private sector.”

Karim Hajji, CEO of Casablanca Stock Exchange, said: “I am very honored to sign this partnership that strengthens the cooperation already established between Casablanca Finance City and the City of London in 2012 and that will allow Casablanca Stock Exchange to develop the financial market liquidity while strengthening its position as a regional financial hub. I am convinced that together we will build a solid foundation paving the way for new business and investment opportunities in North, West and Central Africa.”