Regulator
The Financial Market Council (CMF) was established by Law No. 94-117 of November 14, 1994, on the reorganization of the financial market.
It is an independent public authority with legal personality and financial autonomy.
The Financial Market Council is responsible for safeguarding savings invested in securities.
Central Securities Depository
Tunisie Clearing is the Central Securities Depository (CSD) and the operator of the securities settlement and delivery system. It constitutes a key pillar in the secure and reliable architecture of the Tunisian capital market and offers a wide range of post-trade services.
Tunisie Clearing was established on December 28, 1993, under the name STICODEVAM. Law No. 94-117 of November 14, 1994 (Articles 77–80), which reorganized the Tunisian financial market, confirmed its legal status and defined its scope of activity.
Brokerage Firms
Brokerage firms are the only entities legally authorized to operate on the Stock Exchange, where they execute and/or record transactions involving securities.
They may also engage in the following activities:
- Financial advisory services
- Financial solicitation
- Portfolio management on behalf of collective investment schemes (UCITS)
- Placement of securities and financial products
- Underwriting of public or private securities issues
- Dealing on own account
- Market making
- Equity warehousing
- Listing sponsorship
