Tel Aviv Stock Exchange Presents For The First Time – A Digital System To Register Issuances - TASE Has Developed A Unique Service With An Innovative Digital Solution For Issuances On TASE, Allowing Companies To Operate Quickly, Accurately, And Transparently, With Control Among All Parties Involved

The Tel Aviv Stock Exchange (TASE) announced today (December 14, 2022) the launch of an innovative digital system for registering issuances.

Every year, TASE handles more than one thousand applications for listing securities by way of an IPO, secondary issuances, rights issuances, and private placements. Up to now, the applications have been manual, by submitting the prospectus draft and immediate report of the private placement. Registration management for issuances is a complex process that starts with the life cycle of a company before the issuance and includes all parties involved in the process – lawyers, underwriters, the companies themselves, TASE, and the TASE Clearing House.

The digital system developed by TASE is a significant leap forward in the transition from a manual registration process to an innovative digital process. The system will allow accessibility and simplification of a complex process and will allow the issuing companies, lawyers, and underwriters leading the issuance to operate transparently and efficiently, while shortening the process, among other things, due to the ability to respond quickly to tasks related to the issuance process, anywhere and at any time. The system also provides unique solutions, including the reduction of operational risks and human errors in the process by using digital control tools throughout the entire process.

The new system will result in significant savings in time and costs for the companies, minimize the use of paper for printing documents, and will promote, among other things, the ESG concept of TASE and the listed companies.

Every issuance involves different parties from different companies, therefore every party involved in the process will be identified in the system and will receive the relevant authorizations, ensuring the highest level of confidentiality and security for the process.

The TASE will continue to advance and develop the products and services offered to its customers, using the most advanced technological tools, to develop accessible, economical, and innovative digital platforms.