only stock exchange in Israel; equity trading is the primary business. The TASE trades 1,100 securities, including shares, warrants, and convertible bonds, government bonds and corporate bonds; and futures and options. Futures and options are traded on the TA 25 Index, and the shekel exchange rate vs. the U.S. dollar and Euro. The exchange trades six major indices measured by market capitalization. The TA 25 Index is comprised of the 25 largest companies traded on the exchange that account for more than 50% of the TASE’s total market capitalization. The TA 100 Index, the exchange’s benchmark index, comprises the largest 100 shares that account for more than 60% of the exchange’s total market capitalization. Weightings for the TA 75 Index, like the TA 100, are capped. Tel-Tech index reflects the performance of 50 listed companies from the electronics, computer, and life sciences sectors and publicly traded venture capital funds, accounting for 10% of the TASE’s total market capitalization. Tel-Tech-15 index covers the 15 largest high-tech shares. The TA Banking Index reflects the performance of the exchange’s five largest commercial banks. All products are traded on the exchange’s electronic TACT (Tel Aviv Continuous Trading) system, adapted from the system developed by the chicago stock exchange. Trading is conducted Sunday through Thursday.
Trading hours for equities, bonds, and Treasury bills run in four phases, from 8:30 a.m. to 5 p.m. Derivatives are traded continuously from 9:30 a.m. to 5 p.m.
www.tase.co.il.
Dictionary of Finance and Investment Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
