The Tel Aviv Stock Exchange TASE ; Hebrew: TASE plays a major role in the Israeli economy. TASE lists some [3] companies, 56 [4] of which are also listed on stock exchanges in other countries. In , the trading day was set at 9: At a news conference in December , CEO Ester Levanon announced that trading would be extended by an hour to bring working hours closer to those of the European market. The precursor to the TASE was the Exchange Bureau for Securities , founded by the Anglo-Palestine Bank which became Bank Leumi in With rapid growth of the Israeli economy after the founding of the state, a formal stock exchange was incorporated and began operations in Tel Aviv in In TASE had the third largest number of IPOs of all the world stock exchanges.

The exchange completed its conversion to electronic trading in , under the supervision of Ester Levanon, who was later named CEO of the exchange. By the end of the year foreign investment banks UBS , Deutsche Bank , and HSBC had become members of TASE.

In September , TASE bought out the shares of TASE Clearing House from TASE members, making it a fully owned subsidiary. The number of exchange-traded funds ETFs grew to The Tel Bond index was also launched that year. In May Northern Trust started the first US exchange-traded fund on the NYSE based on TASE's benchmark, the TA Index.

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On April 25, , TASE's benchmark TA index reached a record high of 1, points. For the decade ending 12 February , the TA—25 index topped the Bloomberg Riskless Return Ranking list, outperforming 23 other developed-nation benchmark indexes when adjusting for volatility.

CEO Ester Levanon resigned on 18 July , effective 31 December A week later, on 25 July , Chairman Saul Bronfeld resigned. The TASE CEO since January is Mr. He is a Director at the Tel-Aviv Stock Exchange clearing house Ltd. Amnon Neubach is the Chairman of the TASE Board since April In February the TASE and the London Stock Exchange signed a formal memorandum of understanding intended to smooth the trading of securities listed on both exchanges.

At the time, 50 Israeli companies were listed on the London Stock Exchange. In July , the TASE and NYSE Euronext entered into a memorandum of understanding. At the time seven Israeli companies traded on the NYSE.

In November the TASE and the Shanghai Stock Exchange signed a memorandum of understanding, with delegations to be sent to each other's markets to deepen understanding and promote trade.

In February , the TASE and the Toronto Stock Exchange signed a memorandum of understanding, committing to the cultivation of stronger ties between the two exchanges. In the exchange moved to Ahad Ha'am Street in Tel Aviv, where it remained for 31 years, until it moved to its current location in In , TASE moved to its new premises in Tel Aviv, located at 2 Ahuzat Bayit Street.

The modern building covers an area of 22, square meters and has 14 floors.

It is optimized for computer trading. Its computer systems are located in an underground bunker in case of emergencies, in which there is space for emergency personnel.

Tel Aviv Stock Exchange

Architectural critic Keshet Rosenblum praised the new building, due to its appropriate design, restraint in its form and public access. The lobby of the building is public and there is cafe and stock exchange museum. The Exchange offers four programs under which companies can list on the exchange: In addition, the TASE has a program for the listing of Limited Partnership Units.

Trading in shares takes place Sunday through Thursday between 9: Bonds , Treasury bills and Derivatives are traded between 9: During regular trading hours the TASE can process orders of four varieties: LMT, MKT, FOK, and IOC. TASE links to the U. The major stock market indices of the TASE include:.

These and other indices are explained on the TASE website indices section. The TASE is regulated by the Securities Law , and falls under the direct supervision of the Israel Securities Authority. Two clearing houses operate at the TASE as subsidiaries:. From Wikipedia, the free encyclopedia.

For other uses, see Tase. Tel Aviv Stock Exchange. Archived from the original on The BLOOMBERG Riskless Return Ranking shows the Tel Aviv TA Index TA returned 7. Archived from the original on January 13, This ETF is a fund, created in March , that corresponds to the price and yield performance, before fees and expenses, of the MSCI Israel Capped Investable Market Index. World Federation of Exchanges.

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