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The Tel Aviv Stock Exchange fulfils a major role in the Israeli economy and is a key  player in the nation's economic growth. It is the home turf on which corporate Israel raises capital to finance investments and activities, and for the government to bring the public into its companies as they are privatized. The state-of-the-art exchange is also home to the local investment community and securities sector. Today the market has become an advanced, top of the line venue for trading in securities of all types.


Multiple reforms have opened the Israeli market to the world, and brought the world to the Israeli investor. Yet the advanced technology and the sophistication of its wares, assure that the TASE will remain a vital trading arena for Israeli and foreign investors alike.


Local trade in securities began in the 1930s, years before the formation of the State of Israel. Trade was carried out through the Exchange Bureau for Securities, founded by the Anglo-Palestine Bank (which became Bank Leumi Le-Israel) in 1935.


With the formation of the State of Israel in 1948, a pressing need arose to formalize trade in securities. In September 1953, a number of banks and brokerages joined forces and established the Tel Aviv Stock Exchange.

Since the mid-1990s the Tel Aviv Stock Exchange (TASE) has been adapting to meet the standards of the most advanced exchanges in the world. Physical trading floors, long abolished, have been replaced by a computerized system, the TACT (Tel Aviv Continuous Trading), allowing transaction orders to flow in real time. The TACT handles trade in all forms of securities: stocks, convertible securities, corporate and government bonds, short-term certificates (T-bills known in Israel as Makams), index options and futures, currency options and futures and a variety of securities derivatives such as Index Linked Notes (ILNs), reverse certificates and covered warrants.

Advanced Technology

The TASE’s main function is to approve the issue of diverse types of securities and to supply advanced facilities for trading in securities and clearing transactions, including real-time trade data and announcements.


In addition to trading and clearing, the TASE provides the following services:

  • Via its membership of , the U.S. Depository Trust and Clearing Company (DTCC) and the largest clearing house in the world, the TASE Clearing House provides clearing services for investors in equities dual-listed in foreign markets.
  • Trading and clearing securities placed without a prospectus with institutional investors. The general public does not have access to trading in these securities.
  • Remote Trading – The Tel-Aviv Stock Exchange established a new connectivity platform, which facilitates DMA (Direct Market Access) from outside of Israel to the TACT system (Tel-Aviv Continuous Trading).
  • Corporate Actions System – publishes information about dividend payments, interest and redemption of principal, landmark trading days (the first and last), the dates of general assemblies, deadlines for tender offers, and the dates of future financial statements.
  • Disclosures website – publishes announcements from listed companies and of the TASE itself (Hebrew only).
  • The TASE website provides a constant flow of data on trade, as well as reviews, research and general information covering trade and the capital market in general.

The TASE is a private company limited by guarantee. It is owned by its members, both banks and non-banking corporations, through which anybody may trade in the securities listed on the exchange. Legally the exchange is regulated by the Securities Law (1968), and falls under the direct supervision of the Israel Securities Authority (ISA).


The TASE Clearing House and the MAOF (Derivatives) Clearing House are  subsidiaries of the TASE.

Board of Directors

The TASE board of directors includes 16 members:

  • Five external directors.
  • One director who represents the Bank of Israel, and is appointed by the Governor of the central bank.
  • Another director acting for the Ministry of Finance, appointed by the Finance Minister.
  • Seven representatives of TASE members
  • The chairman of the TASE board and the TASE Chief Executive Officer (CEO), who must qualify as external directors.

The TASE Management Board consists of the CEO, and the heads of the following departments:

  • IT & Operations – development and management of trading, clearing, communications and control systems.
  • Listing & Economics – offerings (registration for trade); corporate announcements; research.
  • Trading, Derivatives & Indices
  • Clearing and Settlement ––TASE Clearing House
  • Membership & Supervision – supervision over and licensing of TASE members.
  • Legal – legal advice.
  • Risk Management
  • Administration – finance, administration and maintenance.
  • Human Resources
  • Marketing & Sales

To learn more about the TASE departments, please click here.

Company Secretariat
Company Secretariat coordinates the work of the TASE Board of Directors and Clearing House Board of Directors.
The TASE covers the costs of providing the venue for trade, clearing and its other activities by charging fees, mainly from the TASE members. Fees are charged for all acts of buying, selling or transferring securities. It also charges commissions from companies raising capital or using any of its services.
More links
TASE Corporate Fact Sheet