Loi n° 42-12 relative au marché à terme d'instruments financiers + lancement du Marché à Terme (MAT)

Since April 2026, foreign investors can finally hedge Moroccan equity beta with MASI 20 futures cleared through a CCP.

Morocco's derivatives market went live on 6 April 2026, after a decade of build-out. First instrument: cash-settled futures on the MASI 20 index (MAD 10 per index point; initial margin MAD 1,000/contract; quarterly maturities). Architecture: SGMAT (market operator) + CCP Maroc (central counterparty, margining and default management). This is the first true hedging instrument available on Moroccan equities and a material improvement to the 'can I manage my risk?' question for foreign allocators.