FTSE launches Morocco index solutions
London, December 21, 2010
Global index provider FTSE Group has joined hands with Casablanca Stock Exchange (CSE) to create a new family of indices – the FTSE CSE Morocco Index Series.
These new real-time indices will enhance the visibility of Morocco across the international investment community, at a time when investors are increasingly seeking investment opportunities in emerging markets, said the award-winning index provider in a statement.
Using FTSE’s top indexing standards, the Morocco Index Series will provide domestic investors with new and innovative investment options in Moroccan equities.
The indices also provide international investors with liquid access to one of Africa’s largest markets (by market capitalisation), where the Casablanca Stock Exchange has been established since 1929, said the statement from FTSE.
The FTSE CSE Morocco Index Series currently consists of two indices, with index data available via distributors, including Interactive Data: FTSE CSE Morocco 15 Index (Real Time) and FTSE CSE Morocco All-Liquid Index (Real Time and End of Day).
The index series has been designed using FTSE’s robust rules for eligibility, free float and liquidity to provide investor confidence, and also open the doors to international listings on the markets operated by CSE.
Jonathan Cooper, managing director, FTSE Middle East and Africa, said: “This is an exciting joint venture which will not only boost opportunities for increased capital flows into the Moroccan market but also facilitate international investments.'
'By combining our index expertise with CSE’s market knowledge, investors now have a robust means to assess, measure and gain access to the Moroccan market,' he noted.
Karim Hajji, CEO of Casablanca Stock Exchange said the creation of the FTSE CSE Morocco 15 index and the FTSE CSE Morocco All-liquid index was an important step toward the internationalisation of the Casablanca bourse.
'Thanks to these indices, investors across the world will be able to monitor and measure the performance of the Moroccan stock market. It is an international recognition of the Casablanca Stock Exchange as a promising, reliable and transparent market,' Hajji added.-TradeArabia News Service