About MAROCLEAR: Central Depository of the Moroccan Financial Market
Inspired by global best practices and dedicated to innovation, the central depository Maroclear seeks to enhance investor confidence while fostering transparency and efficiency within the national financial market.
Established in 1997, Maroclear serves as the Central Securities Depository in Morocco. It is tasked with overseeing, on behalf of its affiliates, the dematerialization and safekeeping of securities, the management of the settlement system that facilitates transaction settlements, and the administration of all events pertaining to the lifecycle of a security. Maroclear ensures the security and efficiency essential for the smooth operation of post-market processes.
As the Central Depository of Morocco and a vital third party for the effective operation of the market, Maroclear plays a crucial role in the advancement of the nation's financial sector. The institution's mission is to provide all stakeholders with a fully secure and dependable framework for the safeguarding of their securities and the execution of their transactions. To achieve this, Maroclear offers a state-of-the-art information system along with highly skilled personnel to address the complexity, speed, and growth of the volume of assets managed within the Casablanca financial center.
Maroclear is motivated by the ambition to engage in the dynamism of the Moroccan financial sector and to facilitate its integration into foreign markets. To achieve this, its primary activity necessitates adherence to the highest international standards and best practices. The ambitious ascent of the Moroccan Financial Center is thus accompanied by a fundamental obligation of exemplarity. Maroclear aims to establish itself as a benchmark that will support the development of the financial services industry. Its expertise, rigor, and capacity for innovation are vital assets in this context. The goal is to foster a more fluid, dynamic, and secure market, thereby enabling Maroclear to position itself as the indispensable trusted partner for financial professionals and both local and foreign investors.
Our narrative
For more than 20 years, the Central Depository has made substantial investments to guarantee that all operations, from the custody to the settlement of securities, are conducted transparently and securely, adhering to the highest international standards.
In the beginning, there was paper. When the Central Depository commenced its operations in September 1997, the initial MAROCLEAR employees received "securities transfer orders" on paper forms. They entered these orders manually and, at the close of each day, generated statements that were collected by couriers from each bank or stock exchange company.
As a post-market service provider, MAROCLEAR plays a pivotal role in the advancement of capital markets, particularly by facilitating the settlement and delivery of securities transactions. This service extends beyond the stock market to encompass other over-the-counter markets where various securities eligible for MAROCLEAR operations are traded, including Treasury Bills, Negotiable Debt Securities, and Collective Investment Schemes in Transferable Securities. MAROCLEAR exemplifies a company that has adeptly navigated its digital transition, consistently pushing the boundaries of its performance. In May 2003, MAROCLEAR introduced the first fully automated post-market service, known as the "Adjustment and Settlement" processes, which rendered paper transactions obsolete. While history is constructed day by day, it is evident that certain "key moments" have served as critical drivers of growth and value addition.
The pivotal moment for MAROCLEAR occurred in 2008 with the teams' investment in a comprehensive revamp of the information systems. This transformation enhanced security, bolstered market integrity, and increased appeal for both national and international investors. Subsequently, the entity embarked on a trajectory of growth, entering a consolidation phase that lasted until 2016.
The strategic development plan for 2014-2016 has been successfully implemented through various accomplishments, including the enhancement of governance, the introduction of a new service for the dematerialization of unlisted company securities, and the ongoing improvement of IT infrastructures. Since that time, MAROCLEAR has been acquiring the necessary resources to fulfill its ambitions, which are centered on the Casablanca Finance City Authority. MAROCLEAR aligns itself with market participants who aim to establish the Casablanca Market Place as a vital regional hub.
