The Tel-Aviv Stock Exchange (TASE) and Eurex Exchange, the international derivatives marketplace and part of Deutsche Börse Group, announced today during a joint press briefing, that Eurex Exchange will list index futures based on the TA-25, Israel’s blue chip index, as of 9 June 2014. The TA-25 index is one of the most heavily traded regional equity indexes. Eurex Exchange’s TA-25 index futures will be denominated in US dollars.
Yossi Beinart, CEO TASE, commented: “I am very pleased that our cooperation has already come to fruition, ushering in a new product which opens up exciting opportunities to invest in the TA-25 index and develop new trading and hedging strategies. The Israeli economy is recognized worldwide as one of the most promising and dynamic growth economies, and investment in Israel’s capital market attracts avid interest in international markets. The Tel-Aviv Stock Exchange places great importance in its international accessibility and constantly endeavors to enhance its product offerings to foreign investors.”
“With the launch of the TA-25 index futures we continue to expand our global product suite and broaden our regional coverage. Our cooperation with the Tel-Aviv Stock Exchange enables us to offer our market participants for the first time access to the Middle East, ” added Andreas Preuss, CEO of Eurex.Currently, Eurex and TASE are jointly preparing the market launch. Eurex has already received very positive feedback from its members regarding market making and interest to trade the new futures. Market makers have already committed to provide liquidity from day one.
By the end of Q1 2014, the TA-25 index options were the tenth most traded index options worldwide. The year-to-date 2014 average daily volume in TA-25 index derivatives traded at TASE is around 200, 000 contracts.
Established in September 1953, the Tel Aviv Stock Exchange (TASE) is an efficient one-stop shop for the securities industry, hosting an increasingly wide 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.