TASE Derivatives Market Advances

The average daily volume of TA 25 Index options reached a record 138,000 contracts in October. A daily record of 221,000 was set October 12. Since derivatives trading was automated in October 1999, daily volumes of TA 25 options have more than tripled from 30,000 to more than 100,000 in recent months.

“The equity market’s volatility in October certainly played an important role in last month's options-volume increase,” said Mr. Dror Shalit, head of the TASE's Trading Department. “TA 25 options provide our equity-market investors with an effective and liquid hedging tool.” The TASE also trades shekel/dollar options and futures contracts.

The Tel Aviv Stock Exchange, founded in 1953, is owned by its 28 member firms and is regulated by the Israel Securities Authority. The Exchange provides a highly advanced electronic trading system for shares, bonds, Treasury bills and derivatives. All trades are cleared and settled by the TASE Clearing House. The TASE offers international investors a combination of attractive investment opportunities and a full complement of market services, including an elaborate and user-friendly website at www.tase.co.il.