Hanging man

These forms, which some would like to Tchebihama rain Ka, and for some other umbrella, considered one of the most important forms Minaret imminent change Alternd the upward to downward. or contrary to the downward trend upward. This always consists umbrella of the body is relatively small, gathering of the Supreme very small or is not gathering any z told at all. The bottom must have the light equivalent to the length of z modest length of the body at least. The body can be a white handkerchief or a dark, The big difference between the two cases. Umbrellas these signals are strong expression in the night Ha Alternd imminent transformation. That seemed to be in another downward Alternd called the hammer and promise reacted upward nearby. That seemed to be in another Alternd upward It is a summit Walter rival called Hangng Mann. The framework or men? In both cases, the body that Yek Wen dark or white handkerchief, is a great difference between the two cases. The two cases are considered overriding expression. Often we see the beginning of transformation in Alternd directly in the M. following the emergence of a hard-former explained, but it may also be delayed a few days in other cases. It is no secret that the arrival of these forms at the top of the summit Alternd The composition of the absolute ceiling him, or in the bottom of the downward Alternd and composition ground Almut deals to be more expressive and more confident of the cases T. other forms come in more depth and higher or more of them. In most cases, these forms appear to Shart offerings mi Balken Chart is : Kai Dai Formashin-key day formation. Or Ancell Formishn-form-Jazeera insel format - ion. It is also natural to record the arrival of a rock inverted P j bottom Alternd downward, as the shadow above the body, They can be white, black, as it should be along the length multiplier which her body. The expression is the same regular expression Hammer.

Piercing pattern

It seems also to the form of the previous format Hobenkeid goal Balgimh Aldkina consists of a white candle come j spark after black consecutive decline in the depth Alternd j. It is unlike previous format also buy signal. This form is more reflective of the income of today b the white candle opened lower on the closure of day of Balhman black, that exceeded the average close the previous day. It is no secret that the entry of this form must be accompanied by purchase Eartha Kitt met emanated from this group, , which is supported by other factors also increasingly Tathe danger, a rising market and the depth of today's Balhman white zone defense focused underneath orders Alstob centers the purchase, which may be opened.

Dark cloud cover

As its name suggests, the dark cloud is a Shama e black white candle read in the latest trend upward. What is important in this form in order to be considered as a shift in Walt rands come opening day of Balhman Suda road automatic over the closing day of Balhman white, and the closing day of Balhman black Ti T. mid-day goal Balhman white. It is also logical to say that the expression derived M. n black candle increase with the closure of the decline this day from the center of the previous day. It is no secret that the value of this increasingly influential figure whenever the Alternd following the buy-out, Whenever accompanied this reference to other references, It is likely more and more demand, which must be received upon j Jinia selling for profit or entering the market in anticipation of the trend m reflector. Thus, the emergency summit this figure had formed the Mega blaming focus above orders Alstob protection for the sale of the WICO n has been opened.

Forms Encapsulated

As its name suggests, and also suggests form, the forms coated (or Almptlah - or Almlthm e) consisting of a candle white (or black) comes after a long u with the black (or white) and small devoured completely, or is marked by candle so that the parties remain small z from a large candle. Figure I, candle-coated black or white comes Balhman at the end of a downward trend and the increasingly powerful expression when Bazd Yad difference between the length Chammattain. This situation must for the opening day to be without White ag Black Lak today and be closed today over a Alabd Glaz Black today. What can this form that mean? Simply, We are in the bottom of a downward trend lasted for days or weeks a and hours. the strong compatriots who were holders of the product, whether business or shares or a contract term or any other commodity. Compatriots who were strong and the nerves started to collapse, The steadfastness will weaken, and loss of hope for the possibility of upward reaction Etak d. Today, the young Black deceived the small lot size. Market quiet, but calm hide something. Speculators who were putting pressure on nerves holders Les passion started now cushioned the Dgutathm. Pessimists who were throwing commodity that Ihamlo Nha Say the numbers, there are only a few of them. There are now frightened willing to get out of Her s only a few. Those in need of nervous shock and the final knockout to get out what in Mahfezthm of the shares occupy. The shock comes in the next morning. Market opens window to the basement. the firm was still eating the wallet, aimed how the cheapest prices. Those who know things the market awaiting this moment, Iltkotonha eagerly and become the picture in the case. The train heading towards the top, jumping the start, increase speed, the day ends at an altitude higher than the beginning, even on the roof of the mother S.. The goal becomes known : the beginning of the opposite trend. Permission forms of black and white. But, in fact, contains all of this market include Sam Er is sharpened. It is no secret that the following figure, any candle lighted white-coated black, contains the same meanings and the same attitudes, but reversed. Alternd now on the end of a climb. The product is sold at a price much higher than the value. Experienced know this. Ordinary people are still entering the market in greed and ignorance not Gh saw. The moment of truth. Window to the Supreme morning and then the collapse of regression and the beginning the opposite trend downward. Here are the pessimists who Afqadua optimists cod danger to control the situation. Pessimists are here and most experienced times. They themselves optimists, in the previous explanation of the previous format. These coated forms that came in the bottom of a downward trend. or at the top of an upward trend, but the line of defense solid or solid line resistance of the market in a for days following. It is no secret that Alstob centers, which opened in Ha time j Jeb to be under or above those forms. It is no secret that these forms had touched on Alternd Witt the mere fact that the wrong signals missed by the experienced (as are a Wida them their mistakes), or camouflaged (by those who are more sophisticated) then break the rear envelope, or ceiling envelope, It goes Alternd waterway pending signal a new turning. P

Doji

Aldoji are approaching the level of the opening of the unit time-m n closing level, or even accompanies it with him, It is thus shown anything, it is the hesitation of traders, The lack of resolution in store. The closure on the same level, which opened shows all b mediation that the developments needed by the market to determine bc Ath coming did not come. If ranged your place. These forms may follow in the league stage of fisherman going to the market is a market. Sequencing of this there must be a significant also, Perhaps it is preparing for the market to be the moment of departure hoses d date, or event, whether the market was expecting, or waiting, or is surprised by. Aldoji form is also an expression may be sometimes M. two. Valdoji which affects the upper part of more than Savl j, some explain miles exist in the market to rise. in view of the fact that the purchase orders had pushed the market up in clear and quick, which may mean a prelude to a subsequent rise and imminent. And vice Aldoji said of the lower section of Advanced i in the upper part. The sections Almetzoyan interpretation Perhaps the most cellar not for them Xiao between the purchaser and the desire the sale, and thus the lack of clarity in vision The absence of psychotropic which must exist to maintain the balance in favor of Might j other. Left to point out that Aldoji not considered a sale or evil an automatic, but is a reference alert, reference-board or other signal more clearly had previously elsewhere, or may pursue.

upward. Descending.

Shmagin Alhrami shape of the bottom, the first is characterized by super-impressive second in the very and clearly, and so they are absorbed them fully. The two color candle is often contrary prior to the color candle, But this is not a condition for the possibility that the correlation between color Yen is also. And we tried to explain what it means figure mentioned, it will truly be characterized as a cease-fire between the fronts a conflicting points of the front-optimists at the market. Front and the pessimists - not described the end of the war Bgalb M. Globe and document the Peace. Alhrami then suggests a pause or a growing trend the passiveness and not necessarily the end. Alhrami apparent in the form of right-It comes in the trend T. Saadi - is a sign of optimistic patient, not to jump to the market hoping rise again, without the means to the whole TV stations. Alhrami apparent in the form of left-It comes in the trend T. hake - is a sign of pessimists patient, no follow-up jumpers from the market for fear of further decline. In both cases, the optimists and pessimists, that long opposed out of the market not opening new centers , or the closure of new centers, it might be an indication of the beginning of a new phase with Petrnd Lachs. Alhrami outstanding form in which small parties candle j-autonomous border region Almtlon object candle, but therein. This issue can inspire a sense of insecurity when dealers, the proportion to the possibility of pursuing Alternd former, It is likely the possibility of approaching change in trend. In this note that the importance of these forms but will return to posed, or what we could reveals feelings simmering in the hearts of favors Hoping who activate the market of markets, What expose these sentiments only express a strong indication happen they should be a future which is the result Elts the remains are in turn the result of feelings and emotions. In this case, in the event of sale must stabilize Alstob Fu s cap form bone. In the case of procurement under the bottom of the form easier

Evening star

Representing Vesper tires Madagascar to the morning star. Vesper constitute a sale of highly credible condition have come at the highest Alternd upward, which might Lico n long hours or days or weeks or even months. Strong expression and the high credibility of a sale these related to the candles, Whenever the candles distinct relatively high length, and whenever the Supreme black candle to the high proportion of Chammattain parallel, whenever the highest expression. After the advent of this form can tip that the end of Altern d upward came, and that the time has come for the beginning of the reaction of a regressive trend with Lachs. Reference : short selling is clear. Candle Supreme small bear substantive meaning associated b form and how big. How big suggest a continuous movement of the stars of the trend upward, while small in size shows the weakness of the movement and the emergency the lack of desire when customers enter Charrin to this the commodities at this high level, This promises the possibility of the advent of a climate close Balatja e. It must be noted that the advent of this form is more T. breathed, the most credible is that there has been at the limits of violent resistance e task intensified by the desire to reap sales orders not profit n holding the commodity, currency or shares, More requests for the sale of those who wish to enter into the market Asteg the only trend regression think coming. This is no secret that this form and finished in itself , considered the violent resistance, as is the case in the shape of the defense Alang called away the previous morning star. In both cases, it must be the focus of the stay orders over a reduction the highest of Vesper in the case of selling, under the lower limit for the star of the morning in the procurement cases.

Morning star

The star of the morning, this is a purchase of high credibility Yeh very condition that comes at a given Alternd be in S please. The shape of the body of a black long expressed a day or a week or employer what hours in certain cases, this object was preceded by other objects also black, In this case it would be more reflective of the fact that it reflects the trend descending long. Black said the body reflects the black day when he knew Els She was followed by a big retreat in the next morning, Al REBOUND Bahia at the opening show on the chart the fact that a body Walsh with small white Lower Low for a body wax e black Lower It is no secret that the decline was more expressive value whenever the distance between objects deeper. This must reduce the upper body of the white candle, any closure, to remain low for a black candle also lower, at the least possibilities they may not be Itlamsa. Candle three components of the third day must also be a n begins at a distance of the opening of the second day closure j, and here also may not be Itlamsa sword. The three upper end candle must be approximately the center of the black candle or over. In that a clear course of the intensity of demand for purchasing , and insecticide candle remained two short of this level, Making Hoazn reluctance to purchase and therefore warned of a the market and the weakness of the reference star, the morning of expression. Thus, the expression surge downward in a day the second was the opposite of panic and fear of the dealers who Leadership Sham experience and lack of knowledge, the public coming to this arena without having MI you come to a guide or worked to train and learn. The expression of the jump between the second day Althal w expression of the public demand experienced experienced low understanding these things so they exploited the Manna Asph to enter the market took note of them coming phase correction As was the case of a retreat or a foundation for upward trend after intensive retreat is unjustified. The star of the morning, this is a solid foundation for the defense began T. consist of a prelude to the market reaction upward to come, In the case of opening deals, it does not have to stay six - and in-depth party under the basement of the small candle-called n great morning.

The candles Japanese?

Starting from left to right. The first candle as we see it composed of the body of the black ray ceremony beginning of the time period contained in this wax e, whether minutes or hours or days or weeks or more m n, The bottom of the black area, which resulted in price e market for a moment the end of the period mentioned . The party Supreme It reflects the area hit Ha market Venzula climb during this period, So is the matter of the party as it is a basement area Walt j arrived market down Vsooda during this period I promises Figelk the minimum area of the black. So, this also shows the black candle represents the time Yeh began certain specified price exceeded the market upwards, and then got down to is rising and remain far short of the Alos AIPAC prior to the end of the period. It must be pointed out that this candle that expressed Ftra T. long time it is taking into account that Els Er had reported several times up and down the limits Alaal j and bottom before taking final form chosen by a moment of the end of this period. What you say about the black candle is also a candle the white is a reverse course. Here imply candle on the market seemed high on the minimum the body's white and closed to the upper limit of this object. In Figure III see something like the form which involves the Red Cross the inseparability of the starting price and the price of the closure, or at least close to them, price started on a certain level at the beginning of the time e expressed by this form to reach closure on the same level after many swings up and down. Reading of the forms of candles and their combinations that forms endorsed by Special offer in the structures of the Japanese ranging candles Of the 70 and 80 complex, sophisticated analysts blame the meanings are sometimes strikingly told to consider and sometimes autonomous of logic accepted. We are here in what we put forward to explain, we will highlight the most important Forms carrying Tabiria symbol-a logically convincing told a more than ten-, we believe that it would be helpful to know each researcher in the this science. Zaqatnaea us, but less firmly convinced us, these forms that serve as the essential principle a sufficient for each junior. Understanding the meanings and plain elusive goals. lights this form immediately after he receives the Shart great clarity, expect this figure is still high rate of embryo , the likelihood of HIV infection in the analysis and conclusion of not less n what is different about bits of roads and theories. --- --- Note that the black arrow in every drawing j Sher according to the direction of upward or downward trend.

Alkandl Styx candles or Japanese.

Junior checked if any consideration of the graph (chart), any chart, faced with the first glance, very difficult to determine what these lines scattered it, up and down right and left. And that is monitored by way of living has actually transpired Pko Nha reflect the instant moves with the work e, or on the arrow or the indicator in question. If we want to be more precise to inform newcomers Might j of this work, we said very clearly : These lines are the material expression and practical translation you e tremendous emotion simmering in the people guaranteed cost basis the fact that this market or the other. The market is not being expressed in words unknown Ramsey vague. the market is the mass of each super human perception, The offending each census. The market is you and I is. The market is we, all of us, public employees, movers him, the prime pieced the game, according to all its material, moral and psychological. These lines lie ahead of us reflect on the screen in a the apparent to the movements of currency or stock or index, but, in fact, reflect the movements of our breath we got that we gazed rate or by Tamana, and back to disappointed or worried by Khbertara. We, ourselves, and go back, we come and go, Ngfo and when we wake up. Lose us to lose, to win the win. Disappoint us to disappoint, grief of grief. Alkhabon withdraw from the ring, and continue it Alzafaron. The graph is the same, This was before tens of years, and so is today, Thus, the future will be : live interpretation of the feelings we felt, for our hopes, We for our fears. : We you and I is. The Japanese were the first to realize this truth. ball a way to extrapolate the future of the vacated to read the movements of the past. That was in the eighth century Nest R. Through one of the most famous dealers of that era : Munehisa Homma. The man was the first to realize that the control of what is happening now is Alice Bill only to find out what might happen in the future, The Abu those candles that you follow the moves today Heh many of the dealers and based many of many analysts and experts - I mean candles Japan Yeh - Candlesticks. This may enable the designer of this theory of the day to gather a wealth ness Ela Based on this statement, which was consolidated themselves history p I disprove it or veto focus. Japanese Candlesticks candles or that the value Walt j makes this method of analysis lies in Ku e expression of the contents of the remaining other means short of reveal if he seriously explained and interpreted. They overwhelmed many forms and symbols, and multiple goals doubt change of Oadhaha and remains today, help is important so No dealer in the capital markets go the identification or deny the positives analysis. So we must stand on the specificity of the other highlights of being a not inconsistent with any other analytical methods, but we see in many situations to highlight Mltekaya with the same Gata truth and the same provision and the emphasis on the same Haki Ka. This reinforces the resolve of the analyst, and more of him in the tilt believing in the wisdom of what go from an analysis of the likelihood of a perceived risk.

open an account

When opening an account with a permit trading system the margin deposit of the advance specific amount will remain a of the amount, without prejudice to decide to buy a car, any that decides to enter into a deal, yourself only then will be divided into two categories : margin used used margin : a portion of the advance payment will be deducted in advance, It is a token bond will be returned for yourself only after the sale of Mr. danger, whether sold at a profit or a loss. The margin available usable margin : It is the amount that remains after deducting yourself only in the margin pain serve. This amount is the maximum amount that allow you to seed in the decantation e. How calculated margin used? We do not want to take little how to calculate the margin will often used yourself T. Hataj a company where you will determine in advance the amount his opponent will be of yourself only a token for each unit of product . In the previous example Stkhbark agency that six cars the amount of $ 1000 of yourself only margin for each user Cea danger purchased. If purchased two cars deducted from yourself only $ 2000 margin m and will continue to serve in yourself only $ 1000 margin available. And although the company, which will deal with Stegnik the need for margin calculation used yourself but CNN the fact that it is very useful to learn how to do this yourself. The margin could be used to be a token of his rival by any commodity, any company with the following equation : margin is used = the value of the commodity purchased full / n outrage multiplier In the previous example : the value of the car full = $ 10.000 and the percentage multiplier Walt j permitted by the company is 10 times, any company that you doubled the capital 10 times, it is the margin by which Stakhsamh Agency : margin is used = the value of the full product / rate Almada chastity = 10.000 / 10 = $ 1000 if I must buy two cars no margin of the car will be deducted from the employee yourself only : margin is used = 20.000 / 1000 = $ 2000 in the worst s global deal that will allow brokerage companies Balmet taxi system margin various types of commodities each company Nu consciousness of certain commodities, each type to be sold on the basis of the firm, called the size of the contract lower unit has been discussed by the product. In the previous example, the volume of cars on the contract = C Are one worth $ 10.000, no you can not sell less than a car worth 10.00 $ 0 and you can sell the complications of this number was traded b two or three etc. Of course, you are not allowed trading car and a half! The method of calculating the margin used : margin is used = the number of contracts * contract size / ratio of and you'll double the size of the contract, which the company won deals outrage multiplier in advance to deal with them, one of the things that may vary from company to another. In our example before : we know that the contract size = one car worth $ 10.000 Wa n = 10 percentage multiplier Therefore, we know that if we want a trading in the car, the amount Stakhsamh agency Els Jarat from our agenda is : margin is used = the number of contracts * contract size / ratio of double = 10.000 * 1 / 10 = $ 1000 or if we want to Nstra j cars will be : margin is used = the number of contracts * contract size / ratio of double = 10.000 * 2 / 10 = $ 2000, and thus you can be calculated margin is used for any number of cars if we assume that k wanted to buy three cars once the amount will be deducted 3 $ 000 margin user. If we assume that you deal with the agency cars have the same value cars tell you, but equal to double the proportion of 20 times a j that the agency will allow you Bsarat trading amounting s Imtha 20 times the amount paid token, you can feel b meters is the margin by which his opponent will be traded, but if you want Yarh one : margin is used = the number of contracts * contract size / ratio of double = 10.000 * 1 / 20 = $ 500 means that the agency Stch cm of yourself only the amount of $ 500 for every car traded by. How calculated margin available? Calculated simple equation the following : the margin available = balance-user, but the margin the previous example : I deposited $ 3000 in advance of the opening of yourself only and agency cars have Frchidk = $ 3000, when it decided to u the company behind the car, deduct $ 1000 a margin of users. the margin will be available for you now : the margin available = balance-margin user = 3000 - 1000 = $ 2000 the maximum amount that can be to lose the deal . If we assume that you decided to buy two cars, $ 2000 will be deducted margin user and the margin will be struck h you now : the margin available = balance-margin user = 3000 - 2000 = $ 1000 which is the maximum amount that can lose the deal . Until now it has become a learning follows : • The margin trading system is a system allows you Alamka the intention of trading goods exceeding Rasmalk times. • This type of trading companies dealing with the special e is redoubling Rasmalk several times as allow you to Palm dealing automatic deduction for the small percentage of the value of Car Bonn users. • Charck these companies profit or loss where Cta Bey only pay the full value of goods sold, after Tenhoss t task orders to implement the sale and purchase which determined You price chosen by you. If ordered to sell the product at a price higher than the purchase price o implemented matter and deducted the full value of the good will and you Er Bonk plus profit if you fully and I have good boom. Although ordered to sell the product at a price lower than the purchase price Weston The feat is deducted from yourself only with the complete value Els passion full. Why not take a vivid example of a trading machine go.
Allemand à : AnglaisAllemand à : FrançaisAnglais à : AllemandAnglais à : Arabe BÊTAAnglais à : Chinois (simplifié) BÊTAAnglais à : Chinois (traditionnel) BÊTAAnglais à : Coréen BÊTAAnglais à : EspagnolAnglais à : FrançaisAnglais à : ItalienAnglais à : Japonais BÊTAAnglais à : PortugaisAnglais à : Russe BÊTAArabe à : Anglais BÊTAChinois à : Anglais BÊTAChinois (simplifié à : traditionnel) BÊTAChinois (traditionnel à : simplifié) BÊTACoréen à : Anglais BÊTAEspagnol à : AnglaisFrançais à : AllemandFrançais à : AnglaisItalien à : AnglaisJaponais à : Anglais BÊTAPortugais à : AnglaisRusse à : Anglais BÊTA

actors of the money market in Morocco

The companies of bourse

companies of purse are only entitled to directly exert the trade of intermediation and negotiation out of purse. The companies of purse profit from a monopoly of negotiation of the transferable securities registered with the Stock Market. The creation of a company of purse is subjected to authorization of the Ministry for Finances. In addition, before exerting sonactivity, any company of purse must present sufficient guarantees from an organisational point of view, technical etfinancier. The authorized capital of the company of purse must be of at least of 1,5 million Dirhams, when its activity relates to the execution of the stock exchange transactions; it must be higher than 5 million dirhams when it also ensures the guard destitres and the counterpart. The companies of purse have as a role: • to carry out the stock exchange transactions; • to place the titles emitted by people morals calling public upon the saving; • to ensure the guard of the titles; • to undertake the canvassing of the customers (for the acquisition of the transferable securities); The transactions carried out via the companies of purse give place to the payment of commissions by the purchasing salesman etl' with the administrative profit of the company.

The Déontologique Council of the Transferable Securities the Déontologique Council of the Transferable Securities (CDVM) is a publicly-owned establishment of monitoring and control of the operators of purse. It has the principal roles of: to protect the saving invested in transferable securities or other placements following a public call to the saving; to take care of the respect of the law by the financial intermediaries (companies of purse, banks and OPCVM). to inform the investors by the delivery of a visa to the notes of information which are availability of the public. These notes are published when there is a public call to the saving, (introduction out of purse, movable issue of securities, new issue of capital…); to inform the applications of the SICAV and the investment funds (CPF) .

The banks the banks do not profit from a direct access to the stock exchange market. Their intervention in the field of the titles is centered around the conservation of transferable securities and the collection of the orders of the customers to forward them to the companies of purse

missions of the adviser

To judge degree of preparation of the company.
To recommend, if necessary, adjustment of the statutes and the structures of management (accountancy, human resources…)
To evaluate the company, its strategy of development and its growth potential.
To conceive the note of information to subject to the Déontologique Council Transferable Securities (CDVM) and to obtain its visa for the operation.
To select the financial intermediaries charged to place the titles of the company.
To define the large axes of communication. To coordinate the outside contributors (lawyers, auditors, listeners if necessary, arranges communication).

advantages of quotation

To reach new sources of financing to instigate the growth of the company. To reinforce the notoriety of the company and to institutionalize its image.
To motivate the employees and to interest the most powerful executives. To engage the company in a dynamics of rigour, performance and transparency.
To perennialize its operation. To develop the inheritance of the shareholders

The Stock Market of Casablanca

1 Definition: The Stock Market is a market where meets professionals who sell and buy titles or transferable security at a negotiated price called course.

2/Historic: Since its creation at the 1929, Casablanca Stock Exchange knew three reforms: 1st in 1988 to the Stock Market the legal entity allotted, the second in 1967 A made it possible to reorganize it juridically and technically and to define it as publicly-owned establishment, the third in 1993 amended and supplemented in 1996, instituted a whole of speakers and founded technical rules and procedures necessary to the development of the Moroccan money market. Currently Casablanca Stock Exchange is a private establishment.

3 principal speakers: The reform of 1993 amended and supplemented in 1996, instituted four speakers: The company manager of the purse: it is a company private whose capital is held by means of purse called company of purse. It has the role of ensuring the management and the development of the purse. Companies of purse: today 13, the companies of purse have as an aim, in addition to the negotiation out of purse, the guard of the titles, the placement of the titles emitted by people morals, the management of the wallets and the council of the customers. These companies are the vector of professionalisms and the dynamism of the stock exchange market. The council deontologic of the transferable securities (CDVM): created in July 1994, the CDVM is a publicly-owned establishment equipped with the legal entity and financial autonomy. It has the role of taking care: • With the protection of the saver. • A the information of the investors. • With the correct operation of the markets of the transferable securities. The CDVM is managed by a board of directors, is chaired by the Minister of Finance, and is composed of the Minister for justice, the government of bank Al the Maghreb or their representatives. It also includes/understands three personalities indicated by the Minister for Finance for their competence in the field economic and financial. The trade association of the companies of purse (APSB): The APSB is an organization gathering all the intermediaries operating with the purse founded in 1995, it defends the interests collective and individual of its members, it offers services to them of representation, information and of formation, it is the spokesman of the economic and social partner and operators Casablanca Stock Exchange with respect to the Official Authorities. It has an advisory statute privileged near the authorities of the market, in particular the Minister for Finance and CDVM, for all that relates to the respect of the deontology and the harmonization of the stock exchange procedures, the introduction of trade and techniques and the improvement of the operation of the marché.

4/undertakings for collective investment of the transferable securities (OPCVM): The OPCVM are organizations which manage wallets of transferable securities on behalf of the savers. They have create to help the people who do not have competence, experience or time to make bear fruit their saving rationally. Designation OPCVM gathers the investment companies with variable capital (SICAV), and the investment funds (CPF). • SICAV: in fact limited companies enjoying the legal entity have the role of investing in transferable securities. • CPF: it is not a company is a joint ownership of transferable securities whose savers acquire a share by investing in the FCP.

5/the companies whose actions are with dimensions: In fact in general important companies fill a certain number of conditions: • to be a person moral. • to have a capital of at least 15 million dirham. • to have established or makes certify by an auditor the annual statements of the last three exercises. • diffused in the public at least 20% of the actions representatives their authorized capital. • The introduction out of purse is pronounced by the company manager.

6 transferable securities, negotiated with Casablanca Stock Exchange: Two values remain during the money market, they are titles representative of right of associated or long-term praetors. They offer the advantage of being easily negotiable out of purse. These values are the actions and the obligations: - the action receives dividends which can drop, stagnate, increase or disappear, all depends on the result of the company. - obligations: are emitted by private companies, public companies and the State. The obligations are values called to fixed income i.e. that it give to their holders the right to a regular income without taking account of the result of the company.

world market

This world market, which is primarily interbank, is the second money market of planet in term of total volume, behind that of the interest rates. It nevertheless is concentrated the most and the first for the liquidity of the most treated products, like the parity euro/dollar. Its daily volume was in 2004, 1.900 billion dollars US, is: 600 billion in cash transactions and 1.300 billion in quasi-uniquement in the long term in transactions private, according to the triennial study of the Bank for international settlements (BIS). The transactions, in volume, were: for 53% between banks; for 33% between a bank and a manager of funds or a nonbanking financial institution; and finally for 14% between a bank and a non-financial company .

The interbank market is a market where the banks exchange between them financial credits and borrow or lend in the short run, and where also the central bank intervenes to bring or take again liquidities. One can distinguish, although there can be other operations (for example on the derivatives) the monetary market interbank (see market money) where the placements and refinancings in the very short term take place. The average rates used on this market for each duration (of 1 month in 12 months) are published each day, under name, for the zone euro, of Euribor (sometimes translated by French Tibeur). The day-to-day rate is for its part called Eonia the establishments admitted to treat on the interbank market, in France, are: the credit institutions (trade banks), the institutions (Treasury, Central Bank, Case of the Deposits), the companies of investment (but these last are not allowed with the operations of refinancing of the ECB) the interbank market is a market private (in opposition to the organized market): the speakers treat directly and freely between them. They can pass via a broker .

exemple:

Australia All Ordinaries

France CAC 40

United Kingdom FTSE 100
United States S&P 500

What is Forex

The Foreign Exchange market, also referred to as the "Forex" or "FX" market, is the largest financial market in the world, with a daily average turnover of approximately US$1.5 trillion. Foreign Exchange is the simultaneous buying of one currency and selling of another. The world's currencies are on a floating exchange rate and are always traded in pairs, for example Euro/Dollar or Dollar/Yen.
http://forexecole.com/