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Deutsche Securities Israel will become the TASE's second international member after UBS, which joined the exchange in 1997.
Prof. Yair Orgler, Chairman of the TASE Board of Directors, welcomed Deutsche Bank's willingness to join the TASE. "A new global player like Deutsche Bank will expand the international investor base of our market. Deutsche Bank's decision to join the TASE conveys a message of strong confidence in Israel and in the TASE to the global financial markets”, Prof. Orgler said. “Our stock exchange offers top-quality services to its local and international members. We believe that additional global investment houses will follow Deutsche Bank and UBS and will also join our exchange as members in the near future".
"This is an important step in the development of Deutsche Bank’s presence in Israel and shows our long-term commitment to the Israeli market", said Boaz Schwartz, Managing Director of Deutsche Securities Israel. "It will further establish Deutsche Bank as a major player in the region"' Schwartz added.
The TA-25 Index, which comprises the TASE's 25 largest shares, measured by market capitalization, gained 63%, in US dollar terms, in 2003 and has added an additional 6.6% this year. This week, the index reached its highest level since August 2000 and it is close to its all time record.
The TASE lists more than 580 companies including 37 dual-listings (companies with shares traded both in Tel-Aviv and in the U.S.). The exchange trades shares, fixed-income instruments and derivatives on a single, fully automated, trading platform. Clearing and settlement of all trades are executed in-house, through the TASE's wholly owned clearing house, which also serves as Israel's central securities depository.
