Stocks Market
Moroccan Stock Market Order Volume Surges 47% in First Five Months of 2026
Order flow on the Casablanca Stock Exchange accelerated dramatically in the first five months of 2026, reaching 1.35 million orders – a 47.12% rise versus the same period last year. Digital channels, especially online brokerage platforms, now dominate order transmission, while the investor base has more than doubled, signalling strong momentum for Moroccan equities.
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Overall Order Activity
The Casablanca Stock Exchange recorded 1.35 million orders in the first five months of 2026, representing a 47.12% increase compared with the same period in 2025 (source: AMMC).
Channels Driving the Growth
- Online brokerage: 837,925 orders – about 62% of total volume, up 35.62% YoY.
- Routing: 299,130 orders – a massive 164.69% jump**, now accounting for 22.12% of all orders.
- Order Management Systems (OMS): 211,480 orders, a 16% rise, representing 15.64% of total.
- Negotiation stations: fell sharply to 3,688 orders (‑37.85%), just 0.27% of the flow.
Client Base Expansion
Number of clients rose from 12,226 in Q1 2025 to 26,686 in Q1 2026. The surge was driven mainly by Moroccan retail investors, whose count jumped from 9,982 to 23,766. Foreign individuals also grew from 128 to 516. Institutional clients (OPCVM) increased modestly to 1,607, while Moroccan legal entities rose from 458 to 698.
Securities Accounts
Registered securities accounts reached 434,515 in Q1 2026 versus 231,833 a year earlier. Resident individuals hold the bulk – 391,221 accounts – up from 201,862. Resident corporations hold 18,133 accounts; non‑resident individuals hold 24,621.
Post‑Market Capitalisation (Maroclear)
At year‑end 2025, Maroclear’s custodial capitalisation stood at 3.016 trillion MAD, up 5.5% from June’s 2.858 trillion. This reflects an 8.2% rise in equity holdings (from 980 billion to 1.060 trillion MAD) and a 10% increase in bonds and negotiable debt instruments (from 280 billion to 308 billion MAD). Collective investment vehicles also contributed, with OPCVM assets rising 23 billion MAD to 719 billion and OPCI assets up 14 billion MAD to 117 billion.
These figures underline the growing importance of digital order‑submission channels and the expanding participation of retail investors in Morocco’s equity market.