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Trading Hours |
Pre-opening session |
09:00 – 09:30 |
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Continuous Trade |
09:30 - 15:20 |
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Closing auction |
15:20 – 15:30 |
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Trading at last until |
15:30 - 15:40 |
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Time Zone |
all year long |
GMT+1 |
Trading Days |
Monday – Friday |
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Trading Currency |
Moroccan Dirham (MAD) |
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Main Index |
MASI Free Float All Shares index |
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Reuters code |
.MASI |
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Bloomberg code |
MOSENEW |
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Exchange Code |
Reuters |
CS |
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Bloomberg |
MC |
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Trading ID/ Trading Requirements |
no ID required for trading. The full legal name and the custody account number are required. |
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Settlement Cycle |
T+3 |
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Current Index Status |
MSCI FM - FTSE FM |
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Market Cap |
USD62.6bn |
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| Year | AVG VALUE TRADED |
|---|---|
| 2021 | $ 32.7mn |
| 2022 | $ 25.4mn |
| 2023 | $ 26.8mn |
Stock Limit
+/- 10% for continuous trading stocks
+/- 6% for auction stocks
Tick Size
<MAD100: 0.01
MAD100-MAD500: 0.05
MAD500-1000: 0.10
Above MAD 1,000: 1.00
Board Lot
No board lot
Crosses
Allowed
within mkt spread
Dynamic
limit
If the stock moves 3% from last, it gets suspended for 5 mins before reopening
Official
Closing Price
Matched price in the closing auction or the last traded price prior to the auction in case no matching occurred in the auction
Iceberg Orders
Available with minimum of 500 shares to show
Off-Market Crosses
1) Trading hours: from 09:30 - 15:40
2) Authorities calculate the minimum value of the trade based on the liquidity and volume of the name in the market, revisions are made periodically
3) The price range is 10% from the last traded price prior to the closing auction for securities in continuous trading and 6% from the last traded price prior to the closing auction for securities traded by auction.
| Market Fees | 10 bps |
| Value Added Tax | 10% on Market Fees and Brokerage |
| Dividend Tax | 15% |
| Capital Gain Tax | None for foreign investors |