LVE archives. 1994, real-time information

LVE archives. 1994, real-time information
LVE archives. 1994, real-time information

Is the Moroccan financial market on the verge of profound changes? Certainly, responds all those who are interested in financial news and who have been able to appreciate the various operations which have been carried out through the Casablanca Stock Exchange in recent months and weeks. Furthermore, since the summer of 1993, stock market reform has become a reality, as evidenced by the existence, on paper at least, of the Securities Ethics Council. But the Stock Exchange is also a physical framework, quotation methods, an information system and, at this level, we must recognize that it looks like a tired old lady… The new missions assigned to it, The importance that we want to give to the financial market in the perspective of sustained growth, all this requires a profound transformation of the framework, the design and the means that we want to give to financial information, in order to making it a modern, efficient tool, adapted to all future developments, an added attraction in short, to encourage savers and investors to frequent it regularly… Aware of these changes and their imperative necessity, two companies, ESM (Canada) and Wafa Systèmes (Morocco) formed a group with the aim of proposing to Moroccan officials the concrete means of this profound reorganization. It is to evoke this proposition that “ESM brings the technology and Wafa Système all the logistics on site”, specifies Henry H. Danan, ESM advisor in Morocco. “The aim of this group is to present a feasibility study to computerize and modernize the Casablanca Stock Exchange in order to ultimately provide the equipment and software necessary to achieve this objective,” says Danan. But the undertaking is not small and the group in question is currently seeking substantial assistance from the Canadian International Development Agency (CIDA) in order to finance this feasibility study. The agreement in principle from this Canadian government agency, specializing in operations with developing countries, has been obtained, but the technical acceptance procedures take a few weeks.

In addition, the Canadian Embassy in Morocco, informed of the process, supports the project.

On the other hand, in order to raise awareness among government and other decision-makers, operators and possible future users, the group will organize on June 15 in Casablanca, “a day on the Stock Exchange, designed as a demonstration of the operability of the EMS system, in the presence of current Canadian users.

The presence of the latter is explained by the fact that ESM Canada operates as a prime contractor on the Montreal Stock Exchange, which gives it the qualities, skills and experience necessary and required to claim the same role. at the level of that of Casablanca, in partnership, it is true, with Wafa Systèmes, the first computer engineering company in Morocco.

As one of the directors of ESM announced, the extraordinary development of communication and telecommunications techniques has found a concrete application at the level of financial information which makes it possible to measure the “pulse of a country”. This is dynamic, varied, multi-sectoral. “In this context, EMS has been able to conquer internal markets in Canada where it is on the way to representing 80% of the market in this country in the IT niche it has chosen. This sectoral niche is the entire interface with the user for the exchange and processing of financial information. This makes it possible to go as far as the transaction, that is to say the buying and selling of shares by computer. ESM has therefore developed and developed a transactional system which has very few competitors today,” explains the administrator of the Quebec company. But is this software adapted to the situation of a stock exchange which still has a fairly low transaction volume, limited liquidity, and an offer that is as restricted as it is not very diversified?

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