Reducing Index Concentration – a reduction of index concentration is achieved by implementing a low weight cap with a combination of increasing number of participating shares in each index. The full list of indices detailed in Appendix A attached hereto.
Launch of "Sub-Universe" called "Rimon" - The Rimon universe will include the shares that meet stiff index criteria (180 shares). Establishing the Rimon universe was intended to strengthen and improve the TASE's flagship indices, so that Rimon Indices can be used as an underlying asset for derivatives.
Rimon Indices will include the following indices: TA-35, TA-35 Net Dollar, TA-90, TA-125, TA-5 Banks, TA BlueChip15Price and TA-Rimon.
Enlarging the existing universe "Tamar" - Tamar will be a "home" for all shares eligible to be included in the indices (about 320 shares), including shares that match the "growth indices" criteria. The "growth indices" are characterized by a wide range of shares and low weight cap, which improves the index diversity. Out-off the Tamar Universe the Tamar Indices series will be derived, which could be used as an underlying asset for index-tracking products.
Tamar Indices will include the following indices: TA All-Share, TA-Growth, and several Sectorial indices.
"Season" Period of Newly Listed Shares - a newly listed share will be traded between 7 to 12 weeks before its addition to TASE Indices. Large cap stocks shall to be added in a gradual process of controlled measures.
Comprehensive Methodology Upgrade – the all new index methodology was developed based on the experience gained and based on recognition of the latest market needs. The full rules are listed in the document presented for public comments.
Maintaining Israeli identity in TASE Indices – Israeli Orientation criteria was formed last November, after an extensive examination best practices used worldwide index providers to define a local connection. Characterization of an Israeli Orientated share has been refined and clarified in order to ensure true affinity to Israel
Israeli Orientation Policy in TASE Indices:
Existing Indices (with the exception of BlueTech Index) - only shares with a clear Israeli Orientation will be added to TASE Indices. Foreign shares already listed in TASE, that will be deleted out-off TASE indices, will not be allowed to return back to TASE Indices. TA BlueChip15Price Index will include only shares incorporated and domiciled in Israel.
Launching a series of "Global indices" – a new set of Global Indices with no Israeli Orientation will be introduced at a later stage.
Launch of New Indices (launch dates will be determined on a later stage)
TA BlueChip15Price - price index developed specifically according to the needs of foreign investors. The Index will include 15 Blue Chip shares, subject to the stringent sectorial criteria.
TA-SME150 - index "backbone" will include 150 medium-sized Israeli shares included in the TA-90 (formerly known as TA-75) and TA-SME60 (formerly known as MidCap-50).
TA-Rimon - a new market cap index that will include Rimon Universe shares (180 shares).
Encouraging foreign investors - index updates will be occur during overlap days when TASE and New York Exchanges fully operated.