Tel Aviv Stock Exchange to Launch Futures Market on September 1, 2024

Rhea-AI Summary

The Tel Aviv Stock Exchange (TASE) is set to launch its futures market on September 1, 2024, offering contracts on the TA-35, TA-90, and TA-Bank-5 indices. This initiative is part of TASE's strategic plan to develop the Israeli capital market and increase trading and liquidity. Idan Financial Instruments has been appointed as the first market maker for these futures contracts.

The market maker will ensure stable bid and ask quotes with competitive spreads, aiming to enhance efficiency and accuracy in futures trading. This move is expected to promote market confidence, contribute to liquidity, and reduce trading costs for investors. The launch aligns with TASE's broader strategy to expand its range of financial products and develop the derivatives market.

Positive

• Launch of futures market on September 1, 2024, expanding trading options
• Appointment of Idan Financial Instruments as the first market maker
• Introduction of futures contracts on three leading stock indices: TA-35, TA-90, and TA-Bank-5
• Expected increase in market confidence and liquidity
• Potential reduction in trading costs for investors

Negative

• None.

Idan Financial Instruments Appointed as First Market Maker

TEL AVIV, Israel, July 17, 2024 /PRNewswire/ -- As part of its efforts to develop the Israeli capital market, the Tel Aviv Stock Exchange (TASE: TASE)) announced today the launch of its futures market on September 1, 2024. Initially, futures contracts will be traded on the TA-35, TA-90 and TA-Bank-5 indices. Idan Financial Instruments Ltd. has been appointed as the first market maker in the futures market.

Expanding Trading Options and Liquidity

In line with its strategic plan to increase trading and liquidity, the TASE has appointed the market maker for futures contracts to be launched on September 1, 2024, on three leading stock indices: the TA-35, TA-90 and TA-Bank-5 indices.

In its role as market maker, Idan Financial Instruments will work to ensure the existence of stable bid and ask quotes and competitive spreads in continuous trading, thus enabling market participants to enjoy greater efficiency and accuracy in futures trading.

Promoting Market Confidence and Reducing Trading Costs

The launch of futures contracts is part of the TASE's strategic plan to develop the derivatives market, expand the range of financial products offered, and increase trading and liquidity. The presence of a professional market maker will help to increase market confidence, contribute to liquidity and reduce trading costs for investors.

Commitment to Market Development

Uri Peles, Business Development Manager at Idan Financial Instruments, said: "We welcome the launch of futures contracts on the leading indices on TASE in September. We will be happy to support and assist in providing liquidity and continuous pricing of the contracts, with the aim of developing and promoting trading on the TASE."

Alon Dangot, Head of Derivatives Market at TASE, said: "TASE is pleased to launch the futures market with three prominent underlying assets in conjunction with market maker Idan Financial Instruments Ltd., in order to ensure trading and liquidity in this market. We believe that through joint work we can diversify and develop trading opportunities for institutional and international investors in this market."

About the Tel Aviv Stock Exchange

The Tel Aviv Stock Exchange (TASE) is the leading stock exchange in Israel. It was established in 1935 and is a member of the World Federation of Exchanges. TASE offers a wide range of products and services, including trading in stocks, bonds, derivatives and ETFs. TASE is committed to develop the Israeli capital market and providing investors with a fair, efficient and transparent trading environment.

www.tase.co.il

Contact:
Orna Goren
Head of Communication and Public Relations Unit
Tel: +972 76 8160405
tase.ir@tase.co.il

View original content:https://www.prnewswire.com/news-releases/tel-aviv-stock-exchange-to-launch-futures-market-on-september-1-2024-302199368.html

SOURCE The Tel Aviv Stock Exchange Ltd.

FAQ

When will the Tel Aviv Stock Exchange (TASE) launch its futures market?

The Tel Aviv Stock Exchange (TASE) will launch its futures market on September 1, 2024.

Which indices will be available for futures trading on TASE?

Initially, futures contracts will be traded on the TA-35, TA-90, and TA-Bank-5 indices.

Who has been appointed as the first market maker for TASE's futures market?

Idan Financial Instruments has been appointed as the first market maker for TASE's futures market.

What are the expected benefits of introducing futures contracts on TASE?

The introduction of futures contracts is expected to increase market confidence, contribute to liquidity, reduce trading costs for investors, and expand the range of financial products offered on TASE.