The central bank of Morocco, Bank Al-Maghrib, has adopted Bloomberg’s Foreign Exchange Electronic Trading (FXGO) and E-bond (EBND) platforms.
The interbank derivatives market for foreign exchange (FX) swaps and MONIA (Moroccan Overnight Index Average) overnight index swaps was launched on 19 February. The initiative follows central bank targets of enhancing Morocco’s FX and government bond markets.
FXGO, which is already used for interbank USD/Moroccan Dirham (MAD) trading, now also covers interbank USD/MAD currency swaps.
EBND allows traders to access Moroccan government bonds in a consolidated marketplace, providing tools for the full lifecycle. The platform, overseen by The Ministry of Economy and Finance, will also give Bank Al-Maghrib access to real-time pricing data to review market activity.
Market data from EBND has been used to calculate the Moroccan yield curve since 2023.
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