Tel Aviv Stock Exchange

The Tel Aviv Stock Exchange (TASE; Hebrew: הַבּוּרְסָה לִנְיָירוֹת עֵרֶךְ בְּתֵל אָבִב), colloquially known as The Bursa, is the only public stock exchange in Israel and a public company itself, listed on its own exchange since August 1, 2019. It is regulated by the Securities Law (1968) and is under the direct supervision of the Israel Securities Authority (ISA). The TASE plays a significant role in the Israeli economy, helping companies and the government raise money and trade investments.

The TASE was founded in 1953, with its precursor dating back to 1935. By 2021, it listed many companies and financial products, showing its importance in Israel's financial world. Trading happens only through 23 members, such as big banks and investment houses, who charge fees for their services.

History and milestones

The Tel Aviv Stock Exchange was started in 1953. Before that, people traded securities at the Anglo-Palestine Bank from 1935. In 1968, laws were made to help control the exchange, and a group called the Israel Securities Authority was created to watch over it.

In 1983, there was a big problem when the prices of some big banks dropped a lot. The exchange moved to a new building that same year. Later, in 1999, it stopped using people to trade and started using computers instead. In 2017, the exchange changed how it worked to make it better for everyone. In 2019, the exchange became a company that could sell shares to people.

TASE members

The Israeli Stock Exchange has 23 members

The central Bank of Israel

TASE's home

In 1960, TASE moved to its own place on Allenby Street. In 1983, it moved again to Ahad Ha'Am Street. In 2014, TASE moved to a new building on Montefiore Street. The building is 14 stories tall and has a lot of space for people to work.

Growth

In 1993, the Tel Aviv Stock Exchange had the third largest number of new companies joining the stock market of all the world stock exchanges.

In 2005, people from outside of Israel invested more money than ever before, reaching 2 billion NIS. By the end of that year, big banks from other countries joined the Tel Aviv Stock Exchange.

In 2007, the amount of money traded each day went up by 55% compared to the year before. The number of special investment funds grew to 240. In May 2008, a big bank in the United States started a new investment fund based on one of the Tel Aviv Stock Exchange’s main indexes.

In 2020, the amount of money traded each day went up by 35% compared to the years before. This happened because of big changes in the world due to a health problem that spread around the world.

In 2023, even with some hard times, about 40% of the companies on the Tel Aviv Stock Exchange shared money with the people who owned parts of the company. This money was called dividends.

In early March 2026, during a difficult time with another country, the Tel Aviv Stock Exchange went up a lot on the first day of trading. Some companies that help protect the country, banks, and energy companies did very well.

Performance

International agreements

In February 2007, the Tel Aviv Stock Exchange made an agreement with the London Stock Exchange to make it easier to trade between the two. In November 2007, it made a similar agreement with The Nasdaq Stock Market. In July 2008, it made an agreement with NYSE Euronext. In November 2008, it made an agreement with the Shanghai Stock Exchange. In February 2010, it made an agreement with the Toronto Stock Exchange.

Trading and features

The Tel Aviv Stock Exchange (TASE) works from Sunday to Thursday, but it is closed on Fridays and Israeli holidays. Sometimes, people suggest changing the days so that TASE would close on Sundays and open on Fridays because there is less trading on Sundays when other major stock markets are closed.

On days when TASE is open, trading happens in five steps: preparing to open, opening, continuous trading, preparing to close, and closing. Trading usually happens between 9:25 AM and 5:25 PM local time.

TASE trades many types of financial products. These include shares of companies, bonds (loans with fixed payments), government bonds from Israel, short-term bonds called "Makams," bonds that can turn into shares, notes that track prices of products or indexes, and funds that follow specific indexes. There are also mutual funds, options that let you buy or sell a share or bond later, and contracts called derivatives. TASE also has a special platform called TASE UP for private companies to raise money and a data system called TASE Data Hub that gives access to market information.

TASE charges fees for each trade, which are small for big traders but can be higher for everyday investors. Banks and investment houses charge their own fees, which can sometimes be reduced by asking for a discount.

The TASE indices

See also: TA-125 Index

Since changes to the Israeli stock exchange indices in early 2017, there are two main groups of shares. The Rimon group includes about 230 shares that are often used for financial planning. These shares have a higher value and meet stricter rules about how many can be traded. The Tamar group has about 350 shares, including smaller shares and those with fewer available for trading.

There are also other indices based on the size of companies and their industries, as well as government bond indices.

Regulation

The Tel Aviv Stock Exchange operates under rules set by the Securities Law from 1968. The Israel Securities Authority watches over it to make sure everything follows the rules. For a company to be listed on the exchange, it must meet certain requirements both when it first offers its shares and while it remains listed. These rules aim to keep the exchange fair and proper.

Some companies listed on other major stock exchanges, like the NASDAQ or the New York Stock Exchange, can also list on TASE with easier rules. This helps companies that want to be on more than one exchange. Recently, rules were updated to allow Israeli companies to also list on exchanges in Singapore, Hong Kong, and Toronto, making it easier for them to connect with these markets.