TEL AVIV, Israel, June 18, 2014 /PRNewswire/ --
On 18th June 2014, the General Assembly of the Federation of European Securities Exchanges (FESE) unanimously approved the application of Tel-Aviv Stock Exchange (TASE) to become an Affiliate Member. The Membership will commence as of 1st July 2014.
Yossi Beinart, CEO of TASE, said: "The Tel-Aviv Stock Exchange is indeed honored to become an Affiliate Member of the Federation of European Securities Exchanges and I would like to thank the FESE General Assembly for their positive vote. I believe our FESE membership will contribute to a further progress in the Israeli capital markets. Our membership in FESE is another step in strengthening the ties between the TASE, Israel and the European markets."
Christian Katz, President of FESE, said: "We are delighted to welcome the Tel-Aviv Stock Exchange as an Affiliate Member of our Association. As a natural bridge between Europe and Asia, the TASE will also bring precious regional expertise to the Federation as a whole and we look forward to our future work together for safe, transparent and fair capital markets."
Information for the Editor:
The Federation of European Securities Exchanges (FESE) represents 41 exchanges in equities, bonds, derivatives and commodities through 21 full members from 30 countries, as well as 2 Observer Members. FESE is a keen defender of the Internal Market and many of its members have become multi-jurisdictional exchanges, providing market access across multiple investor communities. FESE represents public Regulated Markets. Regulated Markets provide both institutional and retail investors with transparent and neutral price-formation. Securities admitted to trading on our markets have to comply with stringent initial and ongoing disclosure requirements and accounting and auditing standards imposed by EU laws.
Established in September 1953, the Tel Aviv Stock Exchange (TASE) is an efficient one-stop shop for the securities industry, hosting an increasingly sophisticated range of products available to investors, including shares, corporate bonds, treasury bills and bonds, index-tracking products and derivatives. TASE is a fully-automated exchange with a central order book trading system, providing clearing, settlement and depository services. Israel is classified as a "developed market" by MSCI, FTSE and S&P and is included in the following international indices: MSCI World, MSCI KOKUSAI, MSCI Europe & Middle East, MSCI EAFE, MSCI EASE, the FTSE All World, FTSE Med-100 indices, and S&P Developed BMI. Trading on TASE is conducted through its members, which include Israeli and international banks and investment houses.
Criteria for Affiliate Membership
An exchange or a regulated market from a non-European country - i.e. other than a country within the EU, the EFTA or from a candidate country in accession negotiations with the EU - having a specific interest in EU regulation for securities markets may be admitted as an Affiliate Member:
- any recognised, regulated and supervised Market Operator of Regulated Markets in Financial Instruments as defined under EU laws or Association of such Market Operators or Regulated Markets;
- any recognised, regulated and supervised Market Operator of Regulated Markets in other types of Futures and Options, or Association of such Market Operators or Regulated Markets;
- any organisation specifically incorporated for and whose main objective is the provision of centralised clearing, settlement and depository services to the Members listed in the two categories above.
For further information:
Head of Public and Regulatory Affairs
Tel-Aviv Stock Exchange
Deputy Manager Marketing & Communications Unit
Email : email@example.com
SOURCE Tel Aviv Stock Exchange Ltd