About 500 shares are traded on TASE; however, not all securities "fit" for inclusion in the TASE indices. Threshold criteria have been developed to define a selected population of shares eligible for inclusion in the indices. Only shares that meet these criteria are included in the indices. The list of eligible shares is called the "Tamar Index universe", or simply "Tamar".
The universe is updated semi-annually, at the close of trading day of the first Thursday in May and November. The index universe is updated according to the threshold criteria.
Following are Tamar criteria:
• Free float rate: 15%
• Minimum average free float value: NIS 40 million
• Average Price – 50 Agorot (0.5 NIS) or above
Special dispensation is granted to shares already included in the Tamar, when re-examined for maintaining their status as a universe constituent. These shares continue their constituency if they meet the following criteria:
- Free float rate: 10%
- Minimum average free float value: NIS 20 million
- Average Price – 30 Agorot (0.3 NIS) or above
