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The Tel Aviv Stock Exchange (TASE) is the only public stock exchange in Israel, with a history dating back to 1953. TASE provides a platform for trading securities, such as shares, bonds, ETFs, and derivatives, facilitating capital formation for companies. TASE is a significant player in the Israeli financial market, offering a variety of products and services to investors and listed companies. The exchange is committed to innovation and technological advancements to enhance market efficiency and accessibility.
As of the latest update, TASE's Board of Directors approved a plan related to the remaining Arrangement Shares allocated to former members of TASE. The plan includes the announcement and payment of a special dividend to all shareholders, as well as the sale of shares by certain members. This initiative aims to resolve disputes and strengthen TASE's position through strategic investments in technological infrastructure.
The Tel Aviv Stock Exchange (TASE) is collaborating with Dubai's business entities to advance economic ties between Israel and the UAE. A conference will be held in Dubai from February 28 to March 3, 2022, to connect Emirati investors with Israeli public companies listed on TASE. H.E. Hamad Buamim highlighted the initiative as a platform for Israeli businessmen to learn about Dubai's economy. TASE's indices performed strongly in 2021, with the TA-35 and TA-90 indices rising by 32% and 33%, respectively. The collaboration aims to stimulate investments and enhance business opportunities.
Invesco has launched its first Exchange-Traded Funds (ETFs) on the Tel Aviv Stock Exchange (TASE) as of February 7, 2022. This initiative aims to meet the rising demand for ETFs in Israel and enhance Invesco's market share in the region. The initial offerings include popular UCITS ETFs like the Invesco S&P 500 and MSCI Emerging Markets ETFs, with plans for further expansion. Invesco's ETF assets under management in the EMEA region reached USD 67.5 billion with a 36% annual growth. The TASE will now feature over 30 foreign ETFs, indicating a growing ETF market in Israel.
The Tel Aviv Stock Exchange launched a new data distribution service on Nov. 29, 2021, enabling market players to access the full order book (Market by Order data protocol). This service allows traders to see all price levels and their compositions, enhancing market transparency. The update responds to decreased average amounts in the top five price tiers due to changes in trading volume and order size. It aligns TASE with international standards and supports foreign investors accustomed to similar trading systems. Data will be distributed via colocation infrastructure in Tel Aviv and a global access point in London.
The Tel Aviv Stock Exchange (TASE) has proposed a significant reduction in the cost of real-time trading data for private investors, aiming to increase accessibility and enhance market participation. Currently, investors pay NIS 4 monthly for Level 1 data. The new proposal suggests reducing costs for Level 1 data to as low as NIS 1 and Level 2 data from NIS 35 to NIS 15-18, effectively cutting prices by nearly 50%. This initiative seeks to encourage more brokerage firms to engage with smaller investors and will also facilitate real-time data access on financial websites for NIS 1 per month.
The Tel Aviv Stock Exchange (TASE) reported its financial results for Q3 2021, achieving a revenue of NIS 75 million, up 4% from the previous year, despite a 10% decrease in trading days. Key highlights include 21 IPOs raising NIS 2 billion and a historic market cap surpassing NIS 1 trillion. Profit surged 79% to NIS 9.6 million, driven by increased revenue from services outside trading. TASE expects growth due to government initiatives boosting market activity.
The Tel Aviv Stock Exchange (TASE) announced that it will publish its financial statements for Q3 2021 on November 22, 2021, after market close. A conference call will be held at 8:00 PM (Israeli time) the same day, hosted by CEO Ittai Ben-Zeev and CFO Yehuda van der Walde, to review the financial results. The call will include a Q&A session and will be available in English. A recording will be accessible on TASE's investor relations website following the event. The financial results will also be reported on the Israeli Securities Authority website.
Tel Aviv Stock Exchange (TASE) reported strong growth in the second quarter of 2021, with revenue totaling NIS 84.6 million, a 15% increase from NIS 73.5 million in Q2 2020. Despite a 2% decline in trading and clearing commissions, TASE saw substantial growth in listing fees (up 24%) and clearing house services (up 20%). Profit increased 20% to NIS 12.1 million. The first half of 2021 featured high IPO activity, with 63 companies raising NIS 17 billion in total.
The Tel Aviv Stock Exchange (TASE) launched the first Bitcoin-linked bonds on TASE UP on August 10, 2021, in collaboration with Silver Castle. This three-year bond series is designed for institutional and qualified investors, allowing them to invest in Bitcoin with reduced operational risks. Funds raised will be used exclusively for Bitcoin purchases, with redemption paid in Shekels based on the Bitcoin exchange rate. The initiative marks a significant step in integrating digital assets into the Israeli capital market, enhancing portfolio diversification opportunities for investors.
The Tel Aviv Stock Exchange (TASE) will publish its financial statements for the period ending June 30, 2021, on August 11, 2021, post-market close. A conference call to review these results will occur the same day at 8:00 PM Israeli time, led by CEO Ittai Ben-Zeev and CFO Yehuda van der Walde. Dial-in details are provided for various countries. A presentation supporting the call will be available on the Israeli Securities Authority and TASE websites. This call aims to inform investors, supplementing the interim financial statements.
On May 24, 2021, the Tel Aviv Stock Exchange (TASE) announced Q1 2021 financial results, reporting revenue of NIS 78.4 million, down 3% from NIS 81.2 million year-over-year. Trading and clearing revenue decreased by 14% to NIS 34.1 million, influenced by lower trading volumes. However, listing fees rose 10% to NIS 16.4 million. TASE's net profit fell 6% to NIS 9.7 million, while adjusted EBITDA dropped 15% to NIS 24.6 million. Notably, TASE facilitated 33 IPOs raising NIS 3.1 billion in the tech sector, marking the highest quarterly figure since 1993.
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