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Tel Aviv Stock Exchange to launch futures market on September 1, 2024
Idan Financial Instruments appointed as first market maker
TEL AVIV, Israel, July 17, 2024 /PRNewswire/ — As part of its efforts to develop the Israeli capital market, the Tel Aviv Stock Exchange (TASE: TASE) today announced the launch of its futures market on September 1, 2024. Initially, futures contracts will be traded on the TA-35, TA-90 and TA-Bank-5 indices. Idan Financial Instruments Ltd. has been appointed as the first market maker in the futures market.
Expanding trading options and liquidity
In line with its strategic plan to increase trading and liquidity, TASE has appointed the market maker for the futures contracts to be launched on September 1, 2024on three major stock indices: the TA-35, TA-90 and TA-Bank-5 indices.
As a market maker, Idan Financial Instruments will strive to ensure the existence of stable bid and ask prices and competitive spreads in continuous trading, thereby enabling market participants to benefit from greater efficiency and accuracy in futures trading.
Promote market confidence and reduce transaction costs
The launch of futures contracts is part of TASE's strategic plan to develop the derivatives market, expand the range of financial products offered and increase trading and liquidity. The presence of a professional market maker will help increase market confidence, contribute to liquidity and reduce transaction costs for investors.
Commitment to market development
Uri PelesBusiness Development Manager at Idan Financial Instrumentssaid: “We welcome the launch of futures contracts on the major TASE indices in September. We will be happy to support and help provide liquidity and continuous pricing of the contracts, with the aim of developing and promoting trading on the TASE.”
Alon Dangot, Head of Derivatives Market at TASEsaid: “TASE is pleased to launch the futures market with three major underlying assets in collaboration with market maker Idan Financial Instruments Ltd., to provide trading and liquidity in this market. We believe that through joint work, we can diversify and expand trading opportunities for institutional and international investors in this market.”
About the Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange (TASE) is the main stock exchange in the IsraelEstablished in 1935, TASE is a member of the World Federation of Exchanges. It offers a wide range of products and services, including trading in stocks, bonds, derivatives and ETFs. TASE is committed to developing the Israeli capital market and providing investors with a fair, efficient and transparent trading environment.
Contact:
Orna Goren
Head of the Communication and Public Relations Unit
Tel.: +972 76 8160405
[email protected]
SOURCE Tel Aviv Stock Exchange Ltd.
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