- Following an approximately 50% increase in trading turnover over the past year* foreign investor activity in bank leumi shares grew by proximately 20%, while order book depth increased by 25% on an annual basis
Bank Leumi announced the renewal of the Tel Aviv Stock Exchange’s Tailor Made Market Making Program for an additional year, following a year of significant improvement in liquidity and trading quality indicators in the bank’s shares.
The purpose of TASE’s Tailor Made Program is to enhance liquidity in securities through dedicated market maker activity, enabling greater market depth, improved trading quality and increased attractiveness of the share to a broad range of investors, including institutional and international investors.
Data summarizing the first year of the program** show that average daily trading turnover in Bank Leumi shares during the continuous trading phase increased by approximately 50%, from about NIS 115 million per day in the year preceding the program’s launch to approximately NIS 170 million per day over the past 12 months. By comparison, over the past year, turnover during the continuous trading phase, excluding block and negotiated transactions, in shares of banks that do not participate in the program increased by only approximately 35%. In addition, total trading turnover in Bank Leumi shares improved by approximately 40% compared with the year preceding the program, versus an approximately 50% improvement during the continuous trading phase excluding block and negotiated transactions. This indicates the effectiveness of the market making program, which generated a stronger improvement in continuous trading than in the bank share’s overall trading turnover.
The data further show that market maker activity in Bank Leumi shares was significant and led to a marked improvement in market depth and trading costs: the visible quantity in the order book increased by approximately 25%, while spreads narrowed by approximately 10% on an annual basis.
Approximately 20% Increase in Foreign Investor Activity
One of the key achievements of the market making program is the stronger presence of international investors in the share. The share of foreign investors in trading in Bank Leumi shares increased from an average of approximately 36% at the beginning of 2025 to more than 43% in recent months, representing growth of approximately 20% in the trading activity of global investors.
The Tailor Made Program enables leading companies to take an active role in improving liquidity in their securities, based on the understanding that high liquidity and deep order books are essential conditions for attracting institutional and foreign investors.
Barak Capital and Meitav Market Making are the market makers participating in the program.
*Turnover during the continuous trading phase, excluding negotiated transactions and block trades.
**The analysis covers the period September 2024 through August 2025 compared with September 2025
