This morning (8/9/2014), 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, the Commissioner of Capital Markets, Insurance and Savings, Dorit Salinger, Chairman of the Israel Securities Authority, Prof. Shmuel Hauser, the Vice-Supervisor of Banks, Dr. Nadine-Bodu Trachtenberg, TASE Chairman, Amnon Neubach and TASE CEO, Yossi Beinart, 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.
At the ceremony, 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.
If the State of Israel was a stock I would buy it today, before the price rises. The shekel's weakening is beneficial to exports. Our major export markets – Europe and the US – are recovering. The Israeli miracle – based on generation upon generation of creative innovation – is currently at one of its pinnacles. After a problematic period, once again there is hope for hope.”
MK Nissan Slomiansky, Chairman of the Knesset Finance Committee added: “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.”
Tel Aviv-Yafo Mayor, Ron Huldai – “Since its inception, Tel Aviv has borne the standard of free enterprise. It has become Israel’s undisputed business and economic center, and it is only natural that the stock exchange was established here and nowhere else. Throughout its history, Tel Aviv has been the engine driving economic development, initially that of the pre-state Jewish settlement - and later of the State of Israel. At the same time, TASE drives the growth and expansion of Tel Aviv itself.”
Israel Securities Authority Chairman – Prof. Shmuel Hauser: “Today we mark the change of the structure itself. The more important change, however, is the structural reform we are leading. This structural change envisions the evolution of TASE into a national resource in partnership with one of the world’s leading exchanges. As a generator of economic growth, TASE’s structural reform can contribute to government projects as well, through the raising of capital for investment in infrastructure development, SMEs, affordable housing, etc.”
TASE CEO, Yossi Beinart: “The Tel Aviv Stock Exchange is the heart of Israel’s capital market and it plays a decisive role in the building and financing of corporations, job creation, preservation of retirement savings and the enhancement of living standards. The move to the new building signals the renewal we are currently undergoing. It is a big challenge and no simple mission. Fortunately we are not alone. Given the importance of TASE to the state of Israel, I am confident that all parties involved – TASE members, TASE-listed companies, regulators, the government and the Knesset will contribute to fulfilling this mission.”
TASE Chairman, Amnon Neubach, closed the ceremony by calling for a partnership between all economic parties to strengthen and cultivate Israel’s capital market. “All the parties capable of setting the agenda and influencing Israel’s capital market are gathered together on this stage. The existence of a vital and vibrant capital market is a necessary condition for stable, long-term economic growth and for a viable long-term savings system. Let us join forces to roll the stone from the mouth of the well so that all may drink from its water.”
About the New Headquarter Building
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.
In the picture – right to left:
The Commissioner of Capital Markets, Insurance and Savings, Dorit Salinger; TASE CEO, Yossi Beinart; Chairman of the Israel Securities Authority, Prof. Shmuel Hauser; Israel’s Minister of Finance, Yair Lapid; Chairman of the Knesset Finance Committee, MK Nissan Slomiansky; The Mayor of Tel Aviv-Yafo, Ron Huldai; The Vice-Supervisor of Banks, Dr. Nadine Baudot-Trajtenberg and TASE Chairman, Amnon Neubach and TASE CEO.
Photographer: Guy Asayag
