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The new General Regulation of the Casablanca Stock Exchange, which is part of the overhaul of the texts governing the capital market, will enter into force in the fourth quarter of 2019.
The new provisions give the Casablanca Stock Exchange more flexibility in setting up the tools needed for market development. This flexibility will make it easier to adapt to the expectations of national and international issuers and investors, he added.
Thanks to these provisions, the Casablanca Stock Exchange will, in particular, be able to adjust the rules relating to the listing of financial instruments, their stay and their cancellation. Moreover, the new general regulations set the admission and residence procedures for the new organization with a main market and an alternative market, dedicated to securities issued by small and medium-sized enterprises (SMEs).
Each market will have compartments reserved for the different types of instruments as well as a compartment dedicated to qualified investors.
The new regulation also offers the opportunity to list securities issued by Undertakings for Collective Investment, such as real estate mutual funds (ETUs) and exchange traded funds (ETFs).
More generally, this general regulation, supports some initiatives of the roadmap "Ambition 2021" of the Casablanca Stock Exchange.