Tel Aviv bourse to expand derivatives trading in January


Reuters is reporting that The Tel Aviv Stock Exchange (TASE) will launch trading of options and futures on the Tel Aviv 100 benchmark index in January, the bourse said on Sunday, as it seeks to attract new investors and boost liquidity.

There is limited scope for derivatives trading in Israel, but a senior executive at the Tel Aviv Stock Exchange (TASE) said the addition of derivatives trading in the TA-100 on January 29th will broaden the market’s appeal.

“Since the TA-100 is perceived as representing Israel’s economy, especially in the eyes of foreign investors, the new derivatives trading is expected to increase the attractiveness of investing in the Tel Aviv bourse,” said Ruby Goldenberg, director of trading, derivatives and indexes at TASE.

Goldenberg said the measure would increase trading volumes of equities and derivatives.

Trading volume of shares has averaged $331 million a day the first nine months of this year, slightly up from an average of $324 million last year but well below the $482 million a day achieved in 2011.

The expansion of derivatives trading comes six weeks after TASE’s board said it supported a shift in the bourse’s trading week to Monday-Friday from Sunday-Thursday to align itself more with global markets to increase trading volume.

Disagreements on how to revive TASE turnover cost the jobs of both the bourse’s chief executive and chairman last year.

Trading of derivatives is already available for the blue chip TA-25, 10 companies in the TA-25 index as well as for its banking index and on dollar-shekel and euro-shekel exchange rates.

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Tel Aviv bourse to expand derivatives trading in January

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