Moroccan exchange to launch derivatives within weeks, CEO says
CSE CEO Tarik Senhaji said derivatives would expand the investor base by allowing participants to take long and short positions and enable them to trade a basket, particularly tracking the MASI 20, which includes the 20 largest and most liquid stocks.
'It's the flexibility that the derivatives market allows you, which is going to add to the main market, bring more liquidity, and essentially bring more flows,' Senhaji said.
The derivative offerings are aimed at being the first part of a broader expansion, with contracts for interest rate futures, single-stock futures and equity options set to follow.
In 2024, the exchange's average daily trading volume rose by nearly 70% to $37.5m (R683.7m), and total market capitalisation rose some 20% from December 2023 to the end of 2024, to $77.6bn (R1.4-trillion).
But the bourse saw only one new listing in 2024 and participation of the local population is also less than 1%, Senhaji said.
CSE is working to boost local familiarity with the exchange to attract more domestic investors. Foreigners account for roughly 30% of the CSE's investors, Senhaji said.
The CSE's next target is to create an 'organic link' between Morocco's two biggest pools of liquidity — the exchange and the government bond market.
'We want to move into derivatives for interest rates in a big way, because that will connect the government bond market ... with the stock market ... and create some really interesting cross asset plays,' he said.
The exchange is also looking to launch listed REITs.
Senhaji said that despite worldwide market turmoil, marked by rising US tariffs and heightened geopolitical tensions, the country was well positioned. He noted that the proposed new US tariff for Morocco was set at the lowest level of 10%.
'We have a good relationship with everyone, whether it's on the social front or the economic front, and we view ourselves as well as one of the links into international commerce and international trading,' Senhaji said.
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Southern Sun announces R1. 5 billion hotel project at Oceans Umhlanga
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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ He added that Umhlanga faced a chronic shortage of premium hotel rooms. 'Our Radisson Blu hotel has consistently achieved high occupancies and is fully booked during every major event in Durban. Even with five more hotels, demand would still outstrip supply. That's why the Southern Sun Oceans Hotel isn't a competitor, it's a complement. 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IOL News
17 hours ago
- IOL News
Vivian Reddy launches R1. 4 billion Oceans North Tower, transforming Umhlanga's real estate landscape
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IOL News
20 hours ago
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Oceans North Tower launch marks new chapter for luxury living and inclusive growth in uMhlanga
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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Over 24,000 jobs have been created during construction, with many sourced from neighbouring communities like Inanda, Ntuzuma, KwaMashu, and Blackburn. Developer and businessman Vivian Reddy called the event a milestone fueled by vision, resilience, and collaboration. 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But despite it all, projects like this show our strength and determination. Developers like Vivian Reddy prove that with belief in the city and its people, great things are still possible,' Mbhele said. At the height of the evening, Reddy revealed that Southern Sun will join the Oceans Umhlanga mixed–use precinct by taking significant equity and operational control of the upcoming South Tower hotel and residences. The sweetheart deal has been in negotiations for over a year and cements Southern Sun's long‑term investment in the development. SUNDAY TRIBUNE
