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

The Tel Aviv Stock Exchange (TASE) is set to launch its futures market on September 1, 2024, marking a significant development in Israel's capital market. The announcement reveals that futures contracts will initially be traded on three leading stock indices: the TA-35, TA-90, and TA-Bank-5.

In a move to ensure market stability and liquidity, TASE has appointed Idan Financial Instruments Ltd. as the first market maker for the new futures market. This appointment aligns with TASE's strategic plan to boost trading activity and enhance liquidity in the Israeli financial markets.

The role of Idan Financial Instruments will be crucial in maintaining stable bid and ask quotes with competitive spreads during continuous trading. This is expected to improve efficiency and accuracy in futures trading for market participants.

Uri Peles, Business Development Manager at Idan Financial Instruments, expressed enthusiasm about the launch, stating, "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."

The introduction of futures contracts is part of TASE's broader strategy to develop its derivatives market and expand the range of financial products available to investors. By bringing in a professional market maker, TASE aims to boost market confidence, enhance liquidity, and reduce trading costs for investors.

Alon Dangot, Head of Derivatives Market at TASE, highlighted the importance of this development, saying, "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."

This launch represents a significant step forward for TASE, which has been a cornerstone of Israel's financial infrastructure since its establishment in 1935. As a member of the World Federation of Exchanges, TASE continues to demonstrate its commitment to developing the Israeli capital market and providing investors with a fair, efficient, and transparent trading environment.