London Stock Exchange Group extends strategic relationship with Morocco

  • Moroccan CSD, Maroclear signs cooperation  agreement with LSEG and Monte Titoli
  • Moroccan Minister for SMEs, Mr Mamoune Bouhdoud opens trading in London
  • Strengthens economic relationship between the UK and North West and Central Africa’s emerging economies

London Stock Exchange Group (LSEG) and Maroclear, the Moroccan Central Securities Depositary (CSD) today announced they 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.”

- Ends -

For further information:

Media 
Ed Clark +44 (0)20 7797 1222
newsroom@lseg.com

Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.

Post trade and risk management services are a significant and growing part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.

The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.

London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 40 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology. you