The Tel Aviv Stock Exchange Introduces New Opening Schedule

The Tel Aviv Stock Exchange announced that starting Sunday, January 16, the opening of the TA 100 shares will take place at 9:45 a.m. Continuous trading will begin immediately after the opening. The opening for the remaining TASE shares ("Yeter") will take place at 10:15 a.m. and continuous trading will follow. The trading day will end as usual at 3:45 p.m. Mr. Dror Shalit, the TASE's head of the trading and clearing department, said the creation of separate opening sessions for each group of shares will enable investors to more easily track the large number of securities traded on the TASE : "The separation will increase the exposure of the small cap shares thus contributing to their liquidity." The Yeter Index, which reflects the performance of shares that are not included in the TA 100 Index, increased 68% in 1999, compared with a 56% rise in the TA 100 Index. 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.