TASE Clearing House (TASECH)
The TASECH is a wholly owned subsidiary of TASE and it is supervised by the Israel Securities Authority. The TASECH operates by virtue of the bylaws that govern the reciprocal relations between the Clearing House and its members.
TASECH serves as a central counter party (CCP) for trading transactions in securities traded on TASE, transactions transferring to a custodian for safekeeping executed on the TASE and for MTS trading transactions.
Derivatives (MAOF) Clearing House
The MAOF Clearing House Ltd, is a subsidiary of TASE Ltd, who issues the derivatives traded on the TASE. The MAOF Clearing House is responsible for clearing derivatives traded on the TASE and for the exercise of the derivatives, according to the rules and terms. In addition, the MAOF Clearing House acts as a central counter party (CCP) in derivatives clearing. Thereby the MAOF Clearing House assumes the risk that one of the parties may not complete their part of the transaction.
