Published On: Tue, Sep 9th, 2014

Minister Lapid at TASE New Headquarters: ‘We Cannot and Must Not Raise Taxes’

First Opening Bell Ceremony at TASE New Headquarters

On Tuesday morning, the Tel Aviv Stock Exchange (TASE) inaugurated its new headquarters at 2 Ahuzat Bayit Street with a festive opening bell ceremony.

Minister of Finance, Yair Lapid, Chairman of the Knesset Finance Committee, MK Nissan Slomiansky, the Mayor of Tel Aviv-Yafo, Ron Huldai, and other dignitaries joined hands to sound the opening bell at the ceremony, which was attended by dozens of representatives from the financial community, heads of public companies, TASE members, investment house and bank executives, institutional investors and market players.

Minister of Finance, Yair Lapid remarked: “If we want to continue to encourage growth, we cannot and must not raise taxes at this time including not raising corporate and capital market taxes. At this time we must endeavor to contribute to economic growth rather than precipitate a slowdown in economic activity.”

MK Nissan Slomiansky, Chairman of the Knesset Finance Committee said: “TASE is a key economic instrument in the life of the state of Israel, in which both small and large business enterprises can raise capital. It is vitally important to strengthen and enhance TASE, and as the Hebrew saying goes: ‘change location, change fortune.’ I believe that the new location will lead to greater prosperity for Israel’s stock exchange.”

After 80 years of securities trading in Israel and 61 years since the establishment of the Tel Aviv Stock Exchange, TASE is moving to its new headquarters. The move sharpens the fusion of tradition and stability on the one hand and innovation and technological advance on the other. The new building is located in the heart of Tel Aviv’s “City” and is a dedicated structure designed from its conception to address the nature and scope of TASE’s activity and its ability to serve the capital market. The 22, 500 square meter building has four subterranean floors (12, 500 square meters) as well as 11 floors above ground.

The new building includes secured infrastructure in compliance with demands from the civil defense authorities, which are suitable for TASE’s advanced communications and trading systems. The subterranean IT center was built for “non-stop exchange operations”, including investments made to address a wide variety of scenarios, including the accommodation of personnel in emergency situations. The building has a convention center which serves to host professional events for the capital market community and in the future will contain a visitor center, designed to accommodate educational activities for school and university students.

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