- Builds on strategic relationship between LSEG and Morocco
- Maroclear previously signed agreements with Monte Titoli
London Stock Exchange Group (LSEG) announced today that Maroclear, the Moroccan Central Depository of Securities (CSD), has selected UnaVista to provide the trade repository technology to sustain the emergence of Casablanca as a financial hub for Africa.
Following on from the G20 commitment, Maroclear will be the first African CSD to implement a trade repository service. UnaVista will provide the trade repository technology, which will be hosted and operated by Maroclear, enabling firms to fulfil their regulatory obligations.
UnaVista’s technology gives Maroclear the control to validate, enrich, and reconcile transactions on all markets of its clients, and provide the tools for the authorities to identify potential market abuse or systematic risk.
Maroclear previously signed an assisted registration partnership with LSEG for the allocation of Legal Entity Identifiers (LEIs) and with LSEG’s CSD, Monte Titoli, to provide access to European securities settlement infrastructure. This partnership follows on from the strategic agreement between LSEG and Morocco to offer a number of infrastructure services, helping to strengthen the economic relationship between the UK and North West and Central African emerging economies.
Mark Husler, Global Head of Product Management, Information Services, LSEG said: “UnaVista is delighted to work with Maroclear on this project to deliver world class market infrastructure to Morocco and the North West and Central African region as a whole. Following our recent partnership agreement with SIX Group, we are pleased to support another global infrastructure provider with the trade repository technology it needs to be ahead of the regulatory curve. UnaVista’s technology has been receiving plaudits for its flexibility, speed of implementation, reliability and ease of use, which makes it the ideal technology for any market that wants to be able to react and evolve with ongoing regulatory requirements.”
Fathia Bennis, CEO, Maroclear said: “Our relationship with LSEG is very strong and this latest partnership will allow us to provide our clients with the most robust and functionally rich trade repository platform available. By implementing UnaVista’s advanced technology, Maroclear can not only lead the way on the African continent, but also stay ahead of regulatory and technical developments globally.”