The Israel Stock Exchange, or the Tel Aviv Stock Exchange (TASE), is the only stock exchange of Israel, and is named after its capital city Tel Aviv. The Exchange Bureau of Securities was the forerunner of the TASE, which was established by the Anglo-Palestine Bank (which became Bank Leumi) in 1935.
After the formation of the State, the growth of the Israeli economy was rapid, and to keep pace with this a previous stock exchange was integrated and started operations in Tel Aviv in 1953. The exchange moved to its present location in Tel Aviv in 1983. Many major Israeli companies are enrolled on the TASE as well as the NASDAQ or the NYSE (primarily).
TASE is controlled by the Law of Securities (1968), and is under the direct supervision of the Israel Securities Authority. TASE is a private company restricted by shares and the possession of its members, banks and non-banking corporations.
During the 1990’s, the Tel Aviv Stock Exchange became accustomed to competing with the world’s most advanced exchanges and introduced a computerized system known as TACT.
The Tel Aviv Stock Exchange fulfills an important role in the Israeli economy, and is a main player in the nation’s economic development. The stock market of Israel has become an advanced and important marketplace for trading in all types of securities.
660 companies are enrolled in the TASE, and approximately 60 of these are also enrolled in other countries’ stock exchanges. About 40 exchange-traded funds (ETF’s), 60 government bonds, 500 corporate bonds, and 900 mutual bonds are listed on TASE.
In December 2005, turnover of shares and convertibles on a daily basis was USD 280 million, $312 million in bonds, $315 in options, and $191 in T-bills. At the end of 2005, the overall market capitalization of TASE was $57 billion in government bonds, $19 billion in T-bills, $23 billion in corporate bonds, $123 billion in shares and convertibles, and a sum of $221 billion. As January 1st, 2005, Teva ($418.7 billion), Bank Hapoalim ($4.2 billion), Bank Leumi ($3.9 billion), Bezeq ($3 billion), and Israel Chemicals ($2.9 billion) were the major stocks of TASE in terms of market capitalization. On December 11th, 2006, the yardstick TA-25 index of TASE stopped at its greatest closing height, 939.01, in TASE’s second consecutive record-setting session. TASE associates with the US markets through its association with DTC, a subsidiary of the Depository Trust and Clearing Corporation, which assists in the business of dually enrolled securities.
TA-25 (known as Ma’of): The flagship index of TASE, lists TASE’s most important stocks in terms of market capitalization.
TA-100: The 100 largest stocks of TASE.
TA-75: Stocks on TA-100 which are not incorporated in TA-25.
Mid-Cap 30: The 30 largest shares which are not incorporated in TA-100.
Yeter: TASE’s other stocks which are not integrated in TA-100.
Tel-Tech 15: 15 largest high-tech stocks of TASE.
TA Real Estate 15: 15 biggest real-estate sector stocks of TASE.
TA Finance 15: 15 biggest finance sector stocks of TASE.
Tel-Div 20: Index of 20 shares which are listed on the TA-100 including the maximum annual dividend yield.
Maala: Index of Socially Responsible Investing.
Major Companies Listed in TASE
A.L.D (Commerce and Service)
Best Issu (Investment and Holdings)
GAI Beach(Commerce and Service)
D Medical (Industry)
DANIRCO (Real Estate and Construction)
G.T.C (Real Estate and Construction)
Africa-Israel Investments Limited
Magic Software Enterprises
ABETRANS(Commerce and Service)
Tel Aviv Stock Exchange