The contingency facility, located outside Tel Aviv, provides full services to members and investors during extended emergencies, when operation of computers within the TASE's building may be impossible for long periods.
As part of the upgrade, the TASE consolidated two separate backup facilities for trading and clearing. This combination will increase efficiency and reduce the maintenance costs for the exchange.
Ester Levanon, TASE executive vice president for information technology and operations, noted that the TASE's contingency systems ensure trading continuity at all times: "Completion of this project enables the TASE to conduct trading at full capacity, even if we are unable to operate from the TASE building at 54 Ahad Haam St. in Tel Aviv for an extended period. The TASE is following many exchanges worldwide, that have recently relocated their contingency facilities." Ms. Levanon said.
Levanon added that the TASE would soon complete the installation of a wireless communications system. Should circumstances dictate, this new system would take over from the fixed-line communications used during normal trading.
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 system for trading, clearing and settlement of shares, bonds, Treasury bills and derivatives. The TASE offers international investors a combination of attractive investment opportunities and a full complement of market services.
