Dror Shalit, head of the TASE's trading and clearing department said, 'Listing a new contract is in line with our commitment to offer local and international investors a wider range of derivative products. The interest-rate futures will be an effective hedging tool especially for investors in T-bills and shekel deposits. The contract will also enable derivative professionals to benefit from changes in the interest rates.'
The launch of the new product follows the automation of derivatives trading last October. Trading of options on the benchmark TA 25 Index on the Tel-Aviv Continuous Trading (TACT) system has more than doubled compared with volumes from the open-outcry method the Exchange used before automation. The TASE also trades options on the dollar-shekel exchange rate.
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.
