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TASE (Tel Aviv stock exchange) Extends Trading Hours by One Hour

Israeli Stock Market Reacts To News Of Ariel Sharon's HealthBy Cellia  Shani

Trading hours will be better aligned with those of leading European and US exchanges

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Monday-Thursday equities and derivatives trading will close at 17:30 (16:30 CET);

Sunday trading will close at 14:30 (13:30 CET).

The Tel Aviv Stock Exchange (TASE) Board of Directors approved the revision of TASE trading hours.

The objective of the change is to better align TASE trading hours for shares and derivatives with those of leading European exchanges and create a one hour overlap with trading in New York.

Trading hours for fixed income securities will not be extended.

It is anticipated that the extension of TASE trading hours will promote higher trading volume, encourage arbitrage trading by local and foreign investors, improve liquidity, and render TASE a more attractive venue for foreign investors.

 TASE CEO, Ester Levanon summarizes by saying: “The extension of trading hours is yet another measure designed to render TASE an attractive and highly accessible venue for foreign investors.”

 The revision of TASE trading hours is scheduled to become effective in the second half of April. It is subject to the approval of the Israel Securities Authority.

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