TASE — Tel Aviv Stock Exchange. ~550 listed companies. TASE-35. Dual-listing with Nasdaq/NYSE. ~$250B market cap.
The Tel Aviv Stock Exchange (TASE) is Israel's sole securities exchange — approximately 550 listed companies, ~$250 billion total market capitalization. Small by global standards but structurally critical: where Israeli banks, insurance companies, real-estate developers, industrial conglomerates, and technology companies raise capital.
Key Indices
TASE-35: flagship blue-chip index. Includes Leumi, Hapoalim, Mizrahi Tefahot, Discount, Harel, Phoenix, Clal, ICL, Elbit, Check Point, CyberArk, Nice. TASE-125: mid-caps. TA-Tech: technology. TA-Real Estate: property sector (disproportionately large vs global norms).
Dual-Listing Framework
Israel's unique arrangement: companies on Nasdaq/NYSE can list on TASE without separate prospectus requirements — SEC filings accepted. This gives Israeli institutional investors (pensions, provident funds) local access to Israeli tech stocks. The framework extends to LSE and HKEX.
Structure
Regulated by the Israel Securities Authority (ISA). Demutualised 2019 — member-owned cooperative to for-profit. Has explored its own IPO. Most consequential role: pricing mechanism for Israeli government bonds (Shahar, Gilon, Galil series) anchoring the fixed-income market.