The Tel Aviv Stock Exchange

(TASE) Israel's only stock exchange:

Serious Information

Trivia

The Tel Aviv Stock Exchange was incorporated and began operations in 1953. In 1983 it moved to its current location in Ahad Ha'am street in Tel-Aviv.

Trading in shares takes place Sunday through Thursday between 8:30 a.m. and 5:30 p.m. local time, overlapping the American markets for a full hour (9:30 to 10:30 EST). Bonds and T-bills are traded in a slightly different schedule - between 9:30 a.m. and 4:50 p.m. Derivatives trading runs from 9:30 a.m to 5:30p.m..
Securities trading in Israel dates back to 1935, when the Anglo-Palestine Bank Ltd., together with pre-state Israel's leading banks and brokerage firms, founded the Exchange Bureau for Securities, which acted as an unofficial stock exchange. Trading and listings increased over the decade, and when Israel was founded in 1948, the authorities made an effort to establish a bourse. Tel Aviv Stock Exchange was incorporated and began operations in 1953. A decade later, a group of bourse members established the TASE Clearing House Ltd. In 68, the Israeli parliament, the Knesset, enacted the Securities Law, which created a solid regulatory framework for the TASE operations. In 1983, the Exchange moved to its current location at Ahad Ha'Am Street in Tel Aviv. The TASE derivatives market opened in 1993, improving the investment community's ability to manage risk. In 1997, the fully automated Tel Aviv Continuous Trading, or TACT, system was introduced, and since the end of 1999, all listed securities as well as derivative products are traded on the new integrated trading platform.

Since the mid-90s Tel Aviv Stock Exchange has become a focus of interest for international investors. The gathering momentum of the prospects for Israel's growing, technology-driven economy have attracted some of the world's most distinguished investment houses to the region. In turn, these investors have become active and influential participants in the Israeli stock market.
The TASE, recognizing the needs of the international investment community, and responded with a number of technological improvements, putting itself on an equal footing with the world's most advanced stock exchanges. These include a fully automated and integrated trading system as well as an efficient paperless clearing house. The Exchange enables member firms to offer on-line trading services to investors through the Internet. The new technologies helped boost trading volume and reduce volatility, thereby pushing down the costs and the risks of trading.

The market's advanced regulatory framework is based on the comprehensive Securities Law, enforced by the Israel Securities Authority, which provides all investors with the highest level of protection. The TASE's high regulatory and technological standards have been recognized by the U.S. Securities and Exchange Commission, which has named the TASE a designated offshore securities market. This recognition was granted after the SEC had reviewed the bourse's supervisory, reporting, clearing and settlement systems. The TASE is an active member of both the International Federation of Stock Exchanges (FIBV) and the International Options Markets Association (IOMA).

All in all, the Tel Aviv Stock Exchange is poised for growth in the new millennium - and that means superb investment opportunities for you, the international investor.

Hebrew website of Tel Aviv Stock Exchange: http://hebrew.tase.co.il/ contains much information on history, data, and opening and closing of the stock exchange so one can watch the clock tick tock. So one can tell everyone else about this too.

Trading: Speed, Convenience and Fairness On-Line
Since October 1999 all securities are traded through the TACT system. This state-of-the-art system ensures a transparent and fair price-discovery process, based on mainstream rules that are widely familiar to international investors.
TACT is an order-driven, fully automated open system, adapted from the system used by the Chicago Stock Exchange. It has helped build turnover and liquidity on the Tel Aviv Stock Exchange. TACT matches electronically routed orders in fractions of a second. Investors can trade shares, bonds and derivatives on the same platform, and convenience is the watchword. TACT terminals enable local investors to buy and sell securities in all members' offices throughout Israel. TACT on-line technology enables the installation of trading terminals anywhere in Israel and around the world.

Trading in shares takes place Sunday through Thursday between 8:30 a.m. and 5:00 p.m. Bonds and T-bills are traded in a slightly different schedule - between 9:30 a.m. and 4:50 p.m. Derivatives trading runs from 9:30 a.m to 5:00 p.m. For the full schedule of trading phases please click here.

The Exchange activates circuit breakers in case the TA 25 index rises or declines by more than 8%. When the circuit breakers are activated, trading is halted for 45 minutes.

Trivia

Tel Aviv-Yafo is a city in Israeli on the Mediterranean Sea. Tel Aviv is also the main part of the largest and most populous metropolitan area in Israel, known as Gush Dan. The name Tel Aviv in Hebrew means Hill (tel) of Spring (aviv), the title given by Nahum Sokolow to his Hebrew translation of Theodor Herzl's book Altneuland (German: "Old-new-land"). The settlement in the area of modern southern Tel Aviv (the neighbourhoods of Neve Shalom and Neve Tsedek) was started in the 1880s as a substitute for the relatively expensive Arab neighbourhoods of Jaffa. However the city of Tel Aviv itself was established only in 1909 as Ahuzat Bayit and was later renamed to Tel Aviv.

Tal Abib-Yafa is the arabic name for the city.

In Germany a football soccer website is calling itself a sock exchange

Tel Aviv University is the largest university in Israel. It has an excellent reputation internationally, mostly famous for its physics, computer science and chemistry departments.

Maccabi Tel Aviv Sports Club was founded in 1906 and houses 10 sports, such as Maccabi Tel Aviv basketball club (45 times Israeli champion, 35 times Israeli cup winner and 5 times European Champions cup winner), Maccabi Tel Aviv FC soccer club (18 times Israeli champion, 22 times Israeli cup winner, twice Israeli Toto cup winner and twice Asia cup winner)

Hapoel Tel Aviv Sports Club was founded in 1923, and over the years has included over 11 sports, including Hapoel Tel Aviv basketball club (5 Israeli championships, 4 Israeli cups) and Hapoel Tel Aviv soccer side (13 Israeli championships, 10 Israeli cups, one Toto cup and once Asia champion), kayaking Club, women's basketball club and more that have always been amongst the top Israeli clubs.

Bnei Yehuda Tel Aviv's soccer club (once Israeli champion, twice Israeli cup winner and twice Israeli Toto cup winner) is the only Israeli soccer team in the top division (Ligat Ha'al) representing only a neighbourhood - Shechunat Hatikva ("The Hope Neighbourhood") in Tel Aviv - not an entire city.

In 2004 when Tel Aviv announced with great pride it was to be named a Unesco heritage site, many wondered what the city had to contribute to world culture. Most visitors to Israel go straight from the airport to Jerusalem, the capital of three religions with its old city, churches, mosques and remains of the Jewish temple. Yet Tel Aviv has much to offer. Original Bauhaus architecture, and not just a few buildings here and there, but an entire city constructed by what was called the International Style.

In 2003 the Israel government announced plans to float shares in state-owned carrier El Al on the Tel Aviv Stock Exchange in May. This was done. And is one of the most well known companies on the stock exchange.

In 2002 The London Stock Exchange (LSE) has urged Israeli firms to list their shares in the UK.
The invite was issued at a conference in Tel Aviv which set out to convince the firms to raise international finance in London rather than in New York. The conference coincided with a call from the League of Arab States for a global boycott of Israel and its commercial partners.

In 2000 The technology-dominated US Nasdaq stock market began exploratory meetings with representatives of 10 Middle Eastern stock exchanges.
The discussions were planned to lead to various opportunities in the future, Nasdaq said in a statement. Representatives of the US markets did meetings with officials from exchanges in Cairo & Alexandra, Bahrain, Tel Aviv, Athens, Amman, Kuwait, Istanbul and Dubai.

In 2004 Unions in Israel ended a two-day general strike, which saw air traffic, financial markets and public services brought to a standstill.

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