The Tel-Aviv Exchange To Resume Trading Monday

The Tel Aviv Stock Exchange announced that it successfully completed its final Y2K test today, signaling that the Exchange is ready to resume full operations tomorrow. The test included a simulation of trading by the Exchange's member firms, which routed simulated orders for equities and derivatives into the Tel Aviv Continuous Trading (TACT) system. The TACT is the Exchange's state-of-the-art electronic platform for trading all securities and derivative products. "The TASE's efforts to ensure that its advanced trading systems would perform flawlessly into the new millennium are a complete success", said Ester Levanon, Head of the TASE Computers and Operations Department. "We now intend to fully refocus our resources to further develop our systems and to create new products that will meet the future needs of domestic and international investors." 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 and Treasury bills. 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.