A share is considered foreign if the company does not have a strong affinity to Israel. The TASE Index Committee is authorized to decide if a share that is domiciled outside the State of Israel has a strong affinity to Israel. In order to decide if a company has a clear Israeli orientation, the Index Committee takes into consideration parameters such as the scope of employment in Israel, the amount of properties owned in Israel, its Israeli dependence, etc. In cases where the Index Committee decides that the company does not have a clear Israeli orientation, the company will be considered a foreign company.
Foreign shares are only allowed to the Tamar universe and to Global indices series (For example, TA-Global BlueTech Index). A seasoned foreign share that is already included in the indices and universes is allowed to remain in the indices and universes until deletion, if and when applicable.
