Since 1993, the Casablanca Stock Exchange saw a second youth after the promulgation of a set of legislations, reforming the financial market and creating the regulatory and technical frameworks necessary for its emergence.
This reform was completed in 1997 by Law No. 35-96 concerning the establishment of a Central Depositary and the institution of the dematerialization of securities.
One of the many benefits of dematerialisation is eliminating the costs and risks related to conservation and the physical movement of securities.
Holding securities in the scriptural form also allows managing quickly the movement of securities and processing operations in accordance with procedures and rules of standardized management, complying with the most stringent international standards .
In this regard, Maroclear is the only depository of central securities in Morocco .Their main missions are:
- Centralize the custody of securities.
- Ensure the management of systems of regulation and delivery.
- Simplify the exercise of rights attached to securities.
- Control securities and sealing of their system of holding.
The arrangements established by Maroclear can unwind all transactions on securities according to the principle of regulation against delivery in standard delays.
Thus, both for scholarship negotiations and transactions over the counter, Maroclear is involved from beginning to end in the post-negotiation.
Concretely , this by flow securities allocated directly on the accounts that maroclear preserves , and on the other hand by the corresponding flow species
Together with Bank Al Maghrib.
On the other hand, the professional association was ,founded in 1993, aims to contribute to the promotion and development of trade ,stock brokerage, market investment services in the Moroccan financial space .It has as a mission to express the point of view of professionals concerning the major issues of the evolution of trade and to ensure taking into account their point of view by the different authorities required to deal with these issues.
Any brokerage company duly approved must adhere to the professional association of brokerage companies according to the provisions of Article 82 of the dahir Law No. 1-93-211 of 21 September 1993 on the Stock Exchange, as supplemented and amended by Acts No. 34-96, 29-00, 42-01.
The professional association of brokerage company ensures observance by its members with the provisions of the Law on the Stock Exchange and the texts adopted for its implementation.