 MADEX®
(MOROCCAN MOST ACTIVE SHARES INDEX)
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| A
capitalisation index, the MADEX® comprises the most actively traded
shares on a continuous basis. Calculated and published since 1 January
2002, the MADEX® has a base value of 1000 at 31 December 1991.
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| MARGIN
CALL
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| A
demand by the authorities for a regular contribution to be deposited in
the member’s account with a view to covering its positions.
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| MARKET
CAPITALISATION
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| The number of shares constituting the share capital
multiplied by the last known share price.
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| MASI®
(MOROCCAN ALL SHARES INDEX)
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| A
capitalisation index, the MASI® comprises all shares listed on the
Casablanca Stock Exchange. Calculated and published in real-time, the
aim of the MASI® is to indicate the performance of the market as a
whole and to provide a long-term reference.
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| MATURITY
DATE or DUE DATE
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| The date on which the principal of a bond becomes due.
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| MINIMUM
BLOCK SIZE
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| It
represents the minimum size required for a trade to be executed on the
Block-trade market. The Minimum Block Size for each security is
calculated periodically as a function of the security's market liquidity
and volume traded. The Casablanca Stock Exchange determines the Minimum
Block Size depending on the volume traded of the said security and
revisions are made on periodically.
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| MULTI-AUCTION
or MULTI-FIXING
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| Method
of trading shares with average liquidity which involves establishing
several prices during the same stock-market session.
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