The Tel Aviv Stock Exchange (TASE) Board of Directors approved the incorporation of two new types of orders to TASE's trading system - "Stop Limit" and "Iceberg" orders. In so doing, TASE aligns itself with leading foreign securities exchanges, which offers traders the opportunity to place these two types of orders.
The introduction of these two new order types constitutes a further step undertaken by TASE to improve trading efficiency and enhance liquidity, and this following the deepening of the order book display to five levels, the launch of additional stock options as well as options on the TA-100 index and the launch of new bond price indices – Tel Bond-Floating and Tel Bond Non-linked.
The new orders will be available to the clients of all TASE members and they apply to all TASE-traded securities, excluding derivatives.
Subject to the approval of the Israel Securities Authority, the new order types are scheduled to be introduced on December 28, 2014.
Robby Goldenberg, Senior Vice President and Head of the Trading, Derivatives and Indices Department remarked: "These new orders enhance the tool box which the Tel Aviv Stock Exchange places at investors' disposal. It is anticipated that they will contribute to trading efficiency and market liquidity. For TASE this is a significant measure, advancing its goal to enable more efficient, active trading, as is customary in leading exchanges throughout the world."
