World Forum Conference of CSDs

Banque Centrale Populaire Group in a nutshell

The Groupe Banque Centrale Populaire (GBCP) is a mutual and universal financial group that draws its strength from the distinctiveness of its values of solidarity and mutuality, values imprinted on its organisation and its functioning, which are unique in Morocco. GBCP is made up of Banques Populaires Régionales (BPRs – Regional Banques Populaires) that are co-operative in intent; the Banque Populaire, the central body, which is a limited-liability company with a stock-exchange listing; specialist subsidiaries; foundations; and banks and representative offices abroad.

As a universal financial group BCP Groupe operates in Morocco and in Africa on retail banking, investment & corporate banking, private banking…

Innovation, Proximity, Citizenship, and Performance are the values that characterize BCP Group. Those values originate from the group’s co-operative and mutual model. They proclaim the group’s identity assets, reflect its culture, carry its vision, strengthen cohesion between its various entities, and give form to its commitments for the economic and social development of the whole African continent.

Moroccan Footprint:
The largest banking network in Morocco:
- The leading savings collectors in Morocco: a market share of 26% for consumer deposits.
- The Second financial funder of the Moroccan Economy: a market share of 24% for loans.
- The most important client relationship market share: +6 million clients.

International footprint:
- Present in 25 countries mainly in Africa (14 countries) and Europe.
- The 6th largest African Bank by Tier 1 Capital.

To consolidate its international footprint and to support Investors ambitions in Africa, BCP Group has launched in 2017 through its subsidiary Mediafinance, the first Moroccan bank dedicated to the "Securities Services" industry.

Subsidiary of Banque Centrale Populaire Group, Mediafinance is the first and unique Moroccan Bank dedicated to "Securities Services" activities.
Acting as a Local, Regional and Global Custodian, Mediafinance is close to local markets and is able to support all client segment’s needs: Institutional Investors, Asset Managers, Banks & Brokers and large corporates in Morocco and overseas.
Mediafinance provides a full range of services to its clients including Clearing & Settlement, Local & Global Custody, Corporate Trust, Funds Services, Market Services and Outsourcing solutions.
Supported by scalable technology and a proprietary web platform, Mediafinance has also developed Asset Serving solutions such as value added and tailor made reporting. From Its Hub Based in Casablanca, Mediafinance ensures Global Coverage, Network Management and operational support to African locations where Banque Centrale Populaire is implanted.

A multi-asset class Securities Services Bank :
Mediafinance covers all asset classes, enabling Clients to have an overall overview of its investment portfolio, and provides high added-value services related to multi-asset, multi-market custodial services as well as valuations and performance analysis.
A robust technology platform :
We are constantly investing in our information systems to guarantee the settlement of all clients’ transactions and safety of their assets..
An innovative Bank :
Innovation is Mediafinance’s aim in order to provide customised solutions in line with the latest technological developments and business practices in the securities industry.

INTIX – the data management FinTech

INTIX helps financial institutions become both client- and data-centric. INTIX addresses the challenges faced by all financial institutions when it comes to aggregating data from multiple sources, delivering the appropriate analytics and insights as well as tracking end-to-end transactions and spotting exceptions that require handling. INTIX shields end-users from the complexity of handling numerous internal systems, transaction semantics, messaging formats and e-channels. For banks adopting SWIFTgpi, the INTIX Transaction Tracker maximises granular visibility on internal payment processing steps and performance.

Thanks to improved accessibility to and intelligibility on financial transactions and visibility on actual processing, financial institutions serve their clients better and track their performance more effectively. They develop a competitive advantage which drives client satisfaction and business growth.

Acting as a collaborative FinTech serving financial institutions, INTIX helps its clients transform data into a new economic asset.

Clearstream

Clearstream is an important player in the securities services industry and part of Deutsche Börse Group, one of the world’s leading exchange organisations.
As an international central securities depository (ICSD) based in Luxembourg, Clearstream provides post-trade infrastructure and securities services for the international market and 58 domestic markets worldwide, with 2,500 customers in 110 countries.
With €13 trillion in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities.
As a central securities depository (CSD) based in Frankfurt, Clearstream also provides the post-trade infrastructure for the German securities industry offering access to a growing number of international markets.
The products and services of Deutsche Börse Group cover the entire value chain in financial services from the admission of securities to listing, through trading, clearing and settlement to custody services along with collateral and liquidity management. Additionally, it provides IT services, indices and market data worldwide.
Clearstream enjoys consistently high credit ratings and is also deeply engaged in the field of new technologies, partnering with fintechs, regtechs and regulators alike to develop joint sustainable solutions for a stable marketplace. Clearstream has more than 2,000 employees worldwide.

Thomas Murray

Thomas Murray was founded in 1994 and today assists banks, funds and capital market entities manage and control counterparty, asset safety and associated risks in the global securities services industry. The company has developed to incorporate over 100 staff in five continents.

We support: Banks, Funds and Capital Markets
• Thomas Murray supports banks (custodians, depositaries, and risk cash correspondence) by providing capital market data and risk assessments of local markets, counterparties and infrastructures. Proprietary data management applications enable banks to distribute data both intra-group and externally to their underlying clients.

• We also provide comprehensive view of post-trade risk in capital market infrastructures that can be used by asset owners, fund managers and hedge funds to maximise asset safety and monitor their counterparties to meet IOSCO and other regulatory requirements.

• We offer public risk assessments on sub-custodians and CSDs and are regularly called upon by governments, exchanges and other capital market infrastructure entities to help improve their capital market standards. With a complete global picture, TM can benchmark groups against their peers and has developed tools to support financial market infrastructures in meeting CPMI-IOSCO minimum standards.

Caisse de Dépôt et de Gestion overview

Caisse de Dépôt et de Gestion is a public financial institution established in 1959, with the primary objective of receiving, safeguarding, and managing saving resources that require specific security. Involved in Morocco’s main structuring projects, the CDG Group is today one of the Kingdom’s leading institutional investors and a major player in the national economy.

CDG aspires to build new models of value creation. It widens its perspectives, clarifies its vision and asserts the commitments that motivate and help the institution grow and align with the economic issues of Morocco. Reconciling between its character as a public institution and an investor in line with the challenges of the kingdom’s development, is a challenge that CDG has been undertaking daily for more than 60 years.

The main mission of CDG is to create long-term value as part of its twofold mandate which is securing and growing the collected savings and developing them through profitable investments. This done, while supporting the national development strategy through projects that create positive externalities.

CDG economic model has specific features to secure private savings while supporting public policies of Morocco contributing to economic development. This model stands on three pillars complementary to each other : financial resources mobilization, the ability to manage complex projects and Capital strength.

To support national development, step by step, the CDG has diversified and enriched its activity portfolio. It is now built around five strategic activities : Savings & Insurance provison, Territorial development, Tourism, Banking & Finance and Investment.

The actions of the CDG in these fields are a real boost for their own development, also offering the possibility of multiple synergies within the Group.

The CDG Group carries out its actions in the context of major national issues, particulary those concerning its pattern of growth, expanded regionalization, energy transition and sustainable development. To address the challenges of the kingdom, the CDG Group has based its 2022 strategy on three methods of intervention : Expert, co-financer and investor.

By developing its methods of intervention CDG Group consolidate its economic model to provide the best response to the challenges facing the country.

The identity of the CDG is shaped by its vision, its people, its corporate culture and its values. The actions of the Group are based on four strong values representing its legacy: Performance, Innovation, Synergy and Citizenship.

AD Capital

AD Capital was established in 2010 and got regulated by the Moroccan Capital Markets Authority. AD Capital has the Casablanca Finance City (CFC) status which entails fiscal advantages for international business

AD Capital offers a full range of mutual funds that gives of exposure to Moroccan Markets through “AD Moroccan Equity Fund”, an equity fund, "AD Cash" a money market fund, "AD Bonds", a mid and long term fixed income fund, "AD Fixed Income”, a money market fund exclusively invested in government bills, “AD Yield Fund”, a short term fixed Income Fund, "AD Balanced Fund", a balanced fund (equities and fixed income).

AD Capital is rated by Fitch Ratings and obtained “Good standards” for its portfolio management, risk monitoring and controls, investment administration and technology procedures; with positive outlook.

AD Capital’s money market fund “AD Fixed Income” is rated ‘Af’ by Standard & Poor’s. The highest possible credit rating for a Moroccan fund.

AD Capital has the ambition to turn to a full-fledged investment bank that offers all investment-banking activities (in addition to the actual asset management activity) and be a local preferred partner of large businesses and institutions.

The Ministry of Culture and Communication

The Ministry of Culture and Communication - Department of Culture is responsible for developing and implementing government policies regarding the cultural heritage and the cultural and artistic development.

To this end, the department is responsible of the following:

- Ensure a harmonization of the orientations
- Ensure the coordination of the actions that contribute to the strengthening of the Moroccan cultural fabric
- Promote the national culture and guarantee its specific characteristics;
- Implement the means and resources to ensure developments of the national culture;
- Maintain and enhance actions and measures in order to protect, conserve and enhance the national cultural heritage
- Design strategies for the cultural development at the regional and local level, with the objective of raising the national cultural level
- Contribute to the animation and promotion of cultural actions;
- Create and manage cultural institutions in charge of artistic and cultural education;
- Stimulate and encourage creation and research in the cultural and artistic fields;
- Elaborate the laws and regulations relating to the cultural field and ensure their application
- Establish cooperative relations with institutions and cultural and artistic associations in Morocco and abroad;
- Undertake prospection and identification of studies in the cultural and artistic fields at the local and regional level;
- Guide and manage the work of the decentralized services of the cultural department

ECSDA

European Central Securities Depositories Association (ECSDA) represents 39 national and international Central Securities Depositories (CSDs) across 35 European countries. The association aims at promoting a constructive dialogue between the CSD community, European public authorities and other stakeholders looking to contribute to an efficient and risk-averse infrastructure for European financial markets.

Today, ECSDA has five major working groups (WG), focused on Risk management, Policy, Compliance, Settlement and Harmonisation particularly in the area of corporate actions and general meetings. In addition to that, we are also working on new technology and cyber resilience.

Policy WG - The Policy working group works closely with all the working groups but its major actual task is to share the European CSDs regulatory environment.

Settlement Discipline WG - The Settlement WG’s major task is to develop a framework on cash penalties under CSDR.

Risk Management WG - The RMWG mainly focuses on the Key Risks Indicators for CSDs, Internal Control Framework, split of responsibilities between lines of defense, CSD insurance and CSD recovery.

Harmonisation/Corporate actions WG- The WG concentrates on the CSD role in the shareholder identification, Corporate actions (CA) & General Meetings (GM) processing, enabling processing of information from and to shareholders for the EU Shareholder Rights Directive purposes, the harmonization of CA for the ECB ECMS project.

Compliance WG - The main concern of the Compliance WG is to follow up the developments regarding AML, General Data Protection (GDPR), EU CSD Regulation related topics and the CSD Links Arrangements Questionnaire (mainly to comply with the EU CSDR).

Euroclear

Euroclear is one of the world’s largest providers of domestic and cross-border settlement and related services, holding close to USD32.6 trillion in assets across 50 different markets.

We have been helping domestic markets and clients cut through complexity, lower costs, and mitigate risks for over 50 years

As an open and resilient Financial Market Infrastructure (FMI), we are able to offer a neutral, proven and secure means for over 2,000 financial market participants to connect to our global network of local Central Securities Depositaries (CSDs).

Euroclear is also the partner of choice for local authorities wanting to attract greater levels of participation from domestic and international investors.

Working with governments and market regulators we support the sustainable development of appropriate legal and regulatory frameworks that are in line with internationally recognised standards.

Through collaboration, we assist local capital markets reduce the cost of borrowing for domestic issuers - with minimum disruption to local market practices - while also establishing a strong control environment and solid transparency mechanisms.

Find out more about how we can help you succeed: www.euroclear.com

Nasdaq

With over 20 years proven experience in the world’s most demanding markets, Nasdaq is the world’s largest market infrastructure technology provider, powering 1 in 10 of the world’s securities transactions. Our integrated multi-asset trading and clearing platforms can help trade and clear almost any instrument on the planet with unmatched speed and scale. Our market-leading surveillance and risk management offerings promote market integrity by providing real-time, cross-market risk monitoring and surveillance across the globe. Nasdaq provides technology and advisory services to over 100 marketplaces, regulators and clearing and settlement organizations in over 50 countries. More than 160 market participants in 65 markets leverage our trading and surveillance solutions. Our capabilities are unique, unmatched by any other technology provider in our space. Please visit us at http://business.nasdaq.com/market-tech/ to learn how our technology can is helping to rewrite tomorrow.

SWIFT

SWIFT is a global member owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and regulatory compliance.

Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories. SWIFT enables our global community of users to communicate securely, exchanging standardised financial messages in a reliable way, supporting global and local financial flows, as well as trade and commerce all around the world.

We relentlessly pursue operational excellence; we support our community in addressing cyber threats; and we continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies.

Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.

National Settlement Depository

National Settlement Depository (NSD), a part of the Moscow Exchange Group, is the central securities depository of the Russian Federation.

NSD was founded on 27 June 1996. On 31 December 2018, the total value of securities under custody amounted to RUB 44.97 trillion. The Bank of Russia recognized NSD as a systemically important central securities depository, settlement depository, and repository. The NSD payment system has the status of a systemically and nationally important system.

NSD offers a wide range of services to its clients, including depository services, cash and settlement services, OTC transaction registration (repository services), information services, collateral management services, and technological services.

The Bank of Russia has assigned NSD the status of an operator of the NSD Payment System (registered name).

NSD settles on-exchange trades and conducts a major part of OTC settlements; it services Russian and foreign securities. Currently, NSD has accounts with central securities depositories and international settlement and clearing centers of eight countries, as well as correspondent accounts with major foreign and Russian banks. NSD services securities issued by companies representing more than 40 countries.

For additional information about NSD, please visit www.nsd.ru/en

KDPW Group

KDPW Group provides a comprehensive range of post-trade services for the Polish capital market – and beyond.

The capital group includes:
• KDPW CSD - the Polish central securities depository responsible for the registration and safekeeping of financial instruments, the settlement of trades from the regulated and alternative trading systems in the largest capital market in Central Europe, and for a full range of issuer services, as well as financial data gathering and maintenance;

• KDPW_CCP - a modern central counterparty clearing house, which clears on-exchange trades and OTC derivatives using a robust guarantee system that reduces the risk of counterparty default. It is authorised under EMIR for clearing in PLN and EUR;

• KDPW_TR - one of only a handful of fully authorised trade repositories in Europe, offers a wide selection of reporting services, including EMIR and SFTR, and is accredited as an Approved Reporting Mechanism under MIFID II / MIFIR;

• KDPW operates a Numbering Agency which issues ISIN, FISN and CFI codes. As a GLEIF accredited LOU, it assigns LEI codes for our large domestic and international client base. Our aim: to keep extending our seamless and fully integrated portfolio of post-trade and value-added financial services for our participants.

Our strengths: with a complementary offering, innovative in-house fin-tech, robust system resources and qualified experts, KDPW has over the past 25 years built an unparalleled position on the international financial market. The next 25 years is where you come in.

For more information on what we can do, please visit www.kdpw.pl

Casablanca Finance City

Casablanca Finance City (CFC) is an African financial and business hub located at the crossroad of continents.
Recognized as the leading financial center in Africa, and partner of the largest financial centers, CFC has built a strong and thriving community of members across four major categories: financial companies, regional headquarters of multinationals, service providers and holdings.
CFC offers its members an attractive value proposition and a premium “Doing Business” support that fosters the deployment of their activities in Africa.
Driven by the ambition to cater to its community, CFC is committed to promoting its members expertise across the continent, while enabling fruitful business and partnership synergies through its networking platform.