As the Casablanca Stock Exchange prepares for the imminent launch of the Futures Market and the Clearing House, it held a symposium in collaboration with the World Federation of Exchanges (WFE), bringing together key players from Morocco’s financial ecosystem. This high-profile event featured insights from national and international experts, including WFE representatives, who shared global perspectives on derivatives markets, their unique characteristics, and their impact on financial systems.
The symposium featured speeches from Nezha Hayat, President of the Moroccan Capital Market Authority (AMMC); Nandini Sukumar, CEO of the WFE; Brahim Benjelloun Touimi, Chairman of the Board of Directors of the Casablanca Stock Exchange; and Tarik Senhaji, the exchange’s CEO. Other notable attendees included Abderrahim Chaffai, President of the Insurance and Social Welfare Supervisory Authority (ACAPS). Together, they emphasized the importance of the Futures Market for Casablanca’s financial sector and praised the collective efforts to align the market with the ambitions of Morocco’s New Development Model.
The discussions, conducted in two panels, highlighted the pivotal role of these financial instruments in the evolution of Morocco’s capital market, while also covering the regulatory advancements that will accompany them. The panels clarified the fundamentals of futures contracts on equities and bonds, and highlighted the benefits for market participants, both buyers and sellers.
Moderated by Ahmed Arharbi, Director of Market Operations at the Casablanca Stock Exchange, and Mounia Mahli, Director of Clearing, the panels included contributions from international experts such as Antoine Vassal, Head of Education for the EMEA region at CME Group, and David Carretero, Head of Fixed Income Derivatives Sales at Eurex, Deutsche Börse Group. Local experts also enriched the discussions, including Bassil Zekri (Coordination Body for the Futures Market – ICMAT), Amine Maamri (Professional Association of Brokerage Firms – APSB), Adel Elaroussi (CDG Capital), and Mohamed Filali (Moroccan Market Rooms Association – AMSM). These experts shared their perspectives on integrating derivatives into Morocco’s financial ecosystem.
The symposium also featured technical workshops led by Richard Metcalfe, Head of Regulatory Affairs at the WFE, on practical aspects and risk measures for companies operating in derivatives markets. Pedro Gurrola-Perez, Head of Research at the WFE, outlined a roadmap for integrating a central counterparty (CCP) into the market, detailing the key steps required for a smooth transition.
