Organizational Structure
Organizational Structure


TASE Structure

The TASE is a private company, subject to strict corporate governance rules.
In April 2017, the Knesset ratified an amendment of the Securities Law enabling changes to TASE's ownership structure and in September 2017 the District Court ratified the TASE demutualization arrangement, enabling changes to TASE's ownership structure, which turns the TASE into a company for profit, while separating TASE membership from ownership of TASE shares.
The Israel Securities Authority (ISA) is the direct regulator that supervises its activities. The TASE Clearing House, the Maof Clearing House and the Nominee Company are subsidiaries of the TASE.

Board of Directors, Management and Departments

According to the Securities Law, a majority of the members of the TASE Board of Directors are independent, and at least three of them are directors recommended by an external committee, the composition of which is determined by the Securities Law.

TASE Board of Directors

The TASE board of directors includes 6 members:
  • Four independent directors,
  • One director  appointed by the Minister of Finance
  • Chairman of the TASE Board of Directors
 

TASE Clearing House Board of Directors

TASECH board of directors comprises a maximum of 15 members. The directors are appointed by the General Assembly, provided that at least three directors are independent directors and one director has professional qualifications (has experience in the capital market and in the clearing field).
 
 

Derivatives (MAOF) Clearing House Board of Directors

Derivatives (MAOF) board of directors comprises a maximum of 15 members. The directors are appointed by the General Assembly, provided that at least three directors are independent directors and one director has professional qualifications (has experience in the capital market and in the clearing field).
 
 

TASE Management

The TASE Management consists of the CEO, and the Vice Presidents who serve as heads of the TASE departments.


TASE Departments

Details on the TASE departments and their responsibilities.