The Tel Aviv Stock Exchange (TASE) announced today that it has chosen Idan Financial Instruments to be the market maker for the shekel-denominated government bonds linked to the dollar and euro, which are issued by the State of Israel abroad and are also traded concurrently on the Tel Aviv Stock Exchange.
The two series in which the market maker will operate are the Government Global Bond 01/29 and 07/30. These are dual-listed series, and for the first time, TASE will implement a dedicated market-making program for these two shekel-denominated government bond series linked to the US Dollar and Euro, through Idan Financial Instruments from the Barak Capital Group - a prominent financial entity in the Israeli capital market. The program will be operated and financed by TASE and will reimburse trading fees to market makers.
Trading in dual-listed bonds on TASE will enable the future inclusion of these series in bond indices, including the Tel-Gov indices of TASE, thus allowing for a broader variety of indices and investors, and strengthening the local bond market.
The Tel Aviv Exchange's market-making program for Shekel bonds linked to the Dollar and Euro, issued by the State of Israel, will allow the public to access these bonds through the Tel Aviv Stock Exchange, in Shekels, without foreign currency conversion costs and in any amount. Until now, trading was not open to the public, even though this is high-rated government debt of the State of Israel.
The move will diversify the traded products and strengthen the dual-listed government bond market. It will lead to increased liquidity and tradability, allow the public wider exposure to foreign currency in Shekels, and for the first time, provide direct access to the Israeli government bonds denominated in Shekels and linked to the Dollar and Euro, without conversion costs.
The program will take effect on June 1, 2026.
