Following are details of the TASE departments:
Information Technology and Operations Department
The department is responsible for all the information systems of the TASE Group which it develops, maintains and operates. The TASE regards ongoing trading and the stability of clearing operations a primary objective, which it aims to achieve through technological innovation and investment of resources in the IT domain.
Listing and Economics Department
The department is responsible for strengthening the connection with public companies traded on TASE, from the pre-listing stage of a new company, and throughout its activity as a public company traded on the stock exchange. The department has a team that is responsible for contacting private companies that are mature for an IPO, marketing the TASE at professional conferences and personal meetings with representatives of private companies and professionals in the Israeli and global capital market.
The department is responsible for:
- Handling the listing of securities of new companies, dual-listed companies and companies traded on TASE
- Determining rules for listing shares, bonds and various financial instruments
- Handling the ongoing reports of the companies
- Execution of trading halts as necessary for the proper & fare trading.
- Handling of payments by companies to investors such as payment of dividends
- Collecting and processing of information and statistical data about issuing, trading on the TASE and producing ongoing reviews, articles and studies on the Israeli capital market
- Responsibility for the high-tech company analysis project.
Trading, Derivatives and Indices Department
The department is responsible for the development and maintenance of the trading method for securities and derivatives traded on TASE, in accordance with the changing needs of the market and in light of changes and trends in the global securities industry.
The department is also responsible for:
- Day-to-day management of TASE indices, including updates from time to time
- Making necessary adjustments in index rules
- Development of new equity and bond indices
- Development of new derivatives and maintenance of existing derivatives.
- Supervision and control of market making in securities and derivatives traded on the TASE and on quoting activity.
TASE Clearing Houses (Clearing and Settlement Department)
TASE Clearing Houses are responsible for the clearing of transactions and actions performed by the TASE members during the trading day.
This activity is carried out through two clearing houses, which are wholly owned subsidiaries of the TASE:
- The TASE Clearing House is responsible for clearing transactions executed in securities traded on and off the TASE, providing central counter-party services for transactions executed on the TASE (excluding derivatives) and providing central custody services for various types of securities.
- The Maof Clearing House is responsible for issuing derivatives traded on TASE, clearing transactions in derivatives and their realization. The Maof Clearing House is also responsible for the activities of the Nominee Company.
Membership and Supervision Department
The Membership and Supervision Department conducts the following activities:
Licensing of TASE members
- Applications for TASE membership (licensing).
- Israeli brokers' applications to engage in new activities.
- Requests for approval of changes in ownership and control of Israeli brokers.
Supervision of TASE members
- The supervision of banks, including foreign banks as well as the remote member, focuses on issues related to proper and fair trading, and the fairness of their dealings with their clients, as far as securities activity on the TASE is concerned. The TASE does not supervise the stability of the banks, of the foreign banks or the remote member. These entities are supervised by other regulators in this regard.
- The supervision of Israeli brokerage firms, in addition to subjects related to proper and fair trading, also focuses on the stability of Israeli brokers as well as their conduct in matters related to corporate governance. Accordingly, they must also meet the requirements for shareholders' equity, within the limits on credit that members may grant their clients, in various reports to their clients and to the TASE etc.
Risk Management Department
The department is in charge of building risk management framework in the TASE Group, including TASE subsidiaries (TASE Clearing House, Maof Clearing House, etc.).
Department's responsibilities include building and maintaining independent and ongoing supervision processes on the quality of risk management, formulating and managing framework and governance in the TASE Group, assesses of possible ways of managing risk exposures, and developing Group's risk management policies, processes and methodologies.
Security of the Tel Aviv Stock Exchange is subject to the instructions of the relevant authorities, management of the organization's safety system and emergency preparedness
The Department is also in charge of performing periodic risk self-assessment processes, formulating a corporate-wide risk management policy, risk appetite and exposure limits, and implementing risk management policies and risk management culture.
Strategy and Business Development Department
The department is responsible for formulating the strategic plan and work plans of the TASE.
The department's activities include:
- Promoting cooperation and development of new markets and services of strategic significance to the TASE
- Responsibility for the international activity of the TASE
- Responsibility for the TASE's digital activity
- Examining regulatory and business processes that affect the markets in which the TASE is active, while formulating suitable programs for dealing with them.
The Legal Department
The department is responsible for legal counsel to all the TASE departments. The department is responsible for required amendments to the TASE rules and regulations, as well as the relationship with the authorities supervising the activity of the TASE.
Legal Advice to the TASE Board of Directors and to the TASE clearing houses board of Directors and to their committees, as well as implementation and assimilation of the rules of corporate governance in the TASE group.
Human Resources Department
The department is responsible for handling the entire TASE human capital, including recruiting employees' care and wellbeing, recreation, training and organizational development and active partnering with managers to lead meaningful organizational processes and change management.
Finance and Administration Department
The department is responsible for the financial and administrative conduct of the TASE. The department is responsible for preparing and approving the annual budget by the Board of Directors, follow-up the budget versus actual execution, preparing financial statements and accompanying reports of the TASE, managing the cash flow and follow up and monitoring the TASE's purchasing process.
The department controls the implementation of contracts and transactions with clients, suppliers, and works with the banking system, tax authorities and the TASE's attorney.
Activities of TASE departments are supported by the Finance and Administration Department. The department is responsible for the administrative operation of the TASE, including maintenance of the TASE building and its electromechanical systems.
The department, headed by the Compliance Officer, is responsible to insure that TASE and the clearing houses follow the provisions of the Law and regulations that applied to it. In addition, the department is responsible for ensuring that international standards are met. The compliance officer is responsible for the development and implementation of the compliance policy throughout the organization, creation and assimilation of all-organizational procedures, which are designed to ensure compliance with the compliance instructions. The Compliance Officer is involved in all work processes in the organization, including development of new products.
Communications & Public Relations Unit
The unit formulates and implements TASE’s communications and marketing strategy, and is also engaged in strengthening TASE’s relations with capital market participants and the general public, and providing them with financial tools and know-how. As part of its functions, the Unit manages media relations, marketing communications, public inquiries, conferences and events for market participants and the general public, and also handle the social networks.