The Board of Directors of the Tel Aviv Stock Exchange’s (TASE) MAOF Clearing House approved the membership of Israel Brokerage and Investment Services I.B.I., Ltd. (IBI Brokerage Services) in the MAOF [derivatives] Clearing House.
Julian Assous, CEO IBI Brokerage Services remarked: “In wake of the significant activity our company conducts in derivatives and overall, we applied for membership in the MAOF Clearing House. We welcome the MAOF Clearing House Board’s decision to approve our membership, as it reinforces our position as a leading professional brokerage house – the first non-bank member of the Tel Aviv Stock Exchange to serve as a clearing member in Israel’s derivatives market.”
The MAOF Clearing House was established together with the derivatives market in 1993, as a subsidiary of the Tel Aviv Stock Exchange. The clearing house is responsible for clearing and settling of all TASE-traded derivatives and serves as central counter party (CCP) for all derivatives transactions. MAOF Clearing House members include: Union Bank of Israel, Ltd., Israel Discount Bank, Ltd., Bank Hapoalim, B.M, Bank of Jerusalem, Ltd., Bank Leumi Le Israel, B.M., Mizrahi Tefahot Bank, Ltd., Mercantile Discount Bank, Ltd., the First International Bank of Israel, Ltd., and U-Bank, Ltd. Today I.B.I Brokerage Services joins these members.
IBI Brokerage Services operates a trading room which provides services to most of Israel’s institutional investors, including pension funds, provident funds, insurance companies, mutual funds and foreign investment houses. IBI Brokerage Services has been a member of the Tel Aviv Stock Exchange since 1973.
