Casablanca Stock Exchange goes live with MillenniumIT trading and surveillance technology

  • Flexible and robust MillenniumIT technology implemented to meet needs of local market
  • Integrated trading and surveillance solution
  • Part of wider strategic cooperation agreement between LSEG and CSE

MillenniumIT, a leading innovative capital markets technology business, today announces that Casablanca Stock Exchange (CSE) has successfully gone live with Millennium Exchange for equities and fixed income trading and Millennium Surveillance to monitor trading and detect unusual behaviour.

The new integrated trading and surveillance solution allows CSE to implement greater automation and operational efficiency, underpinned by the Millennium Advanced Platform (MAP). MillenniumIT’s flexible and cost-efficient technology has been adapted to meet the needs of the local market with the introduction of new order types and a volume maximising auction process.

The new platform will support CSE’s future growth strategy and is part of a wider strategic cooperation agreement with London Stock Exchange Group to expand CSE’s activity in the North West and Central African regions. Moroccan Central Securities Depository, Maroclear, has previously selected LSEG’s UnaVista to provide its trade repository technology. Earlier this year, CSE partnered with London Stock Exchange Group to launch ELITE, a successful business development programme, in Morocco.

Out of more than 40 trading venues globally, MillenniumIT technology is now live at 15 emerging and frontier exchange operators around the world including the Johannesburg Stock Exchange, Nairobi Stock Exchange, Egyptian Stock Exchange, and Bolsa De Valores Lima.

Mack Gill, Chief Executive of MillenniumIT said:

“MillenniumIT has a long history of working with exchange operators in emerging markets around the world and we are delighted that CSE is the latest to have gone live with our world-leading, agile, low-latency financial technology. The Moroccan market has unique requirements but the implementation of MillenniumIT’s flexible technology means CSE can adapt to the local market’s needs in a cost efficient manner”.

Karim Hajji, CEO of Casablanca Stock Exchange, said:

"We are very pleased to successfully achieve this implementation and meet our deadline for go-live. This platform offers our market state of the art technology with the best international standards, and will allow us to better answer the financing needs and hedging of market risks, while supporting the development of the Casablanca Financial Market and its regional influence."

MillenniumIT is wholly owned by London Stock Exchange Group.

LSEG, which sits at the heart of world’s financial community, is able to offer a range of services, including access to the world’s most globally diverse pool of capital and investors and access to some of the best global financial expertise. This global positioning and expertise means that LSEG is exceptionally well-placed to support the development of Morocco’s financial services sector.