Morocco on Monday began futures trading in ​financial ⁠instruments with its first listing ‌of a standard futures contract on the ​MASI 20 equity index, the central bank ​and the ​AMMC - the capital markets regulator - said.

The contract, called the "MASI 20 ⁠Future," is based on an index that tracks the 20 largest and most liquid stocks ​listed on ‌the Casablanca Stock ⁠Exchange, ⁠they said in a joint statement.

The contract's launch ​coincided with ‌the unveiling of ⁠an institutional website by the Futures Market Coordination Body, a joint authority established to coordinate oversight of the futures market between the central bank and the AMMC.

The introduction of a futures ‌contract represents the first step under Morocco's ⁠regulatory framework for derivatives trading, ​which will also allow for the development of other instruments ​such ‌as options and swaps.

(Reporitng ⁠by Ahmed Eljechtimi; ​Editing by Hugh Lawson)