The TASE developed a business-to-business system in response to the needs of international institutional investors, which in recent years have boosted volumes of custodial transfers on the TASE Clearing House. The system enables the Clearing House staff to monitor these transfers in real time. It will also be used to clear off-the-exchange trades.
Mr. Eldad Herstig, head of the TASE's clearing operations, said, "The new system is an important step in the TASE's strategy to enable straight-through processing of all trades. We are doing our utmost to facilitate all services for international investors, including the use of B2B technology which fully automates the TASE Clearing House".
Since completing the automation of trading last October, the TASE has focused on automation of clearing. At the same time, the Exchange has been developing an Internet-based service to facilitate the immediate dissemination of the listed companies' announcements. This new service will be launched by the year's end.
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.
