TASE as an Advanced Technological Organization

The large increase in trading and clearing volumes in recent years has necessitated that the TASE maintain the capacity to handle unprecedented levels of demand. Thus, the trading servers, the central computer, the communications networks, and the various backup systems were upgraded in both the TASE building and TASE’s backup site.

As the online trading method requires ongoing development and maintenance of the computer systems, more than half of the TASE employees are currently computer and infrastructure personnel, responsible for the establishment and maintenance of computer systems.

Order Entry Network and Protocol

Access to the TASE's trading network, which is used for trading and receiving real-time market data, is restricted to TASE members only.

TASE provides its members with an interface for sending new orders, obtaining order approvals, and subsequently carrying out the orders. The interface is a proprietary protocol of the TASE over TCP, called CTCI. The protocol includes:

• New (buy/sell) orders
• Order updates and cancellations
• Order confirmations
• Trade confirmations
• Security/market status messages

TASE members who wish to connect to TASE can develop their own interfaces to TASE or use the services of a third-party - Independent Software Vendor (ISV). The ISVs have developed TASE interfacing software and have tested it with the TASE.  Some also provide connectivity infrastructure to TASE's trading network (e.g. FIS).

Following is a list of Independent Software Vendors:

• Broadridge Trading and Connectivity Services​​​
• E&A Financial Software (TradeOne)
• FIS Global Trading
• FMR Computers and Software Ltd.
• ION
• Ivory Software Systems Ltd.
• List
• Matrix
• SIVRON Technologies
• Vela Trading Technologies

Contact Details for Independent Software Vendors 

The trading network is also used to distribute real-time market data to TASE members, as detailed in the following section.

Dissemination of Data Files

In addition to real-time information, the TASE also provides its members with trading information in the form of files. The files contain the following data:

• Descriptions and characteristics of securities
• Index information
• Daily order breakdown
• Daily statistics

As per the conditions specified on the TASE  website, some of the data is available for download on the website, either free of charge or for a fee. Certain files are restricted and can be obtained only by TASE members via the TASE's secure file distribution network.

Additional information and download of data files >

TASE Co-Location

As of 2019, TASE provides Co-Location services to its customers. The service enables TASE member firms and their clients, Data Vendors, ISVs, and other customers to place their trading servers in TASE's Data Center and benefit from low latency connectivity to TASE's trading and Market Data systems.

The Co-Location service implements the most advanced infrastructure and offers equal latency for all Co-Location customers regardless of their location internally in the Co-Location DC.

Europe Bridge (Global access points)

TASE has established 2 POPs:

• London (LD6)
• Frankfurt (FR2)

TASE PoPs are connected to both its main site in Tel-Aviv and its DR site via secured reliable lines.
Clients can use this service to trade in TASE (Order entry) directly from Europe, receive market data, or connect their systems to TASE's Co-Location infrastructure.

Trading Data for Investors

TASE investors can view TASE trading data on the TASE website, through one of the TASE members, or via data vendors connected to the TASE. 
The data is transmitted to clients by market data vendors via standard protocols, via GUI, or through their software API.

Real-Time Market Data

TASE provides real-time market data to its members and Market Data vendors connected to the TASE. The data includes:

• Market status
• Market by Price (5 highest levels)
• Market by Order
• Indices
• Prices (e.g. Projected Opening, Opening, Closing)
• Last Trade info
• News

The data is delivered  in real time via two protocols:

1. The "Spider" protocol – TASE's proprietary protocol over TCP where the fields are predetermined for each type of message in a structure with a fixed length format.
2. FIX / FAST protocol – Standard protocol in the FIX 5.0 version with FAST 1.1 compression over TCP.
3. TASE MBO protocol - Standard Market by Order (available for Co-Location clients).

TASE members can receive the data through designated communication lines or via other market data vendors.

Market data Vendors can receive the data via designated communication lines, or through external communication infrastructure suppliers that are connected to TASE (e.g. BT Radianz).

TASE data vendors list >

Backup and DRP 

Considerable effort has been devoted to the design and development of the "TACT" system to ensure that it is always available for TASE's customers without interruption or malfunction.

TASE has established a backup system for the trading and clearing, communications, and electrical systems, at both its main site in Tel Aviv and its backup facility (DR site) which is located in an area remote from the city of Tel Aviv.

Should the TASE main site in Tel Aviv be unable to accommodate trading and clearing operations, these functions can be carried out at the DR site. Each TASE member and Market Data vendor is connected to the DR site, and the TASE's order entry Market Data protocols support the transition to the backup site during a trading day.

Additional Information

TASE Command and Control Center (Mashov)
Tel.: 076-8160666
Email: mashov@tase.co.il