Remote Membership on the TASE

Remote Membership on the TASE

TASE allows large international financial entities to be admitted as remote members of TASE, even if they do not have permanent representation or a branch in Israel.

 

Who may be a Remote Member?

A remote member may be a company that was incorporated in one of the following countries: EU countries, United States, England, Switzerland, Norway, Canada, Australia and Japan, that does not have permanent representation or a branch in Israel and that is a stock exchange member in the country in which it was incorporated.

 

Conditions a Remote Member Must Fulfill

  • A remote member must have been a stock exchange member for at least three years, of one or more of the following stock exchanges:
    LSE (London), EURONEXT, NYSE, NASDAQ, CME (Chicago), CBOE (Chicago), ICE, TSX (Toronto), ASX (Australia), DEUTSCHE BORSE, EUREX (Germany), SIX (Switzerland), TSE (Tokyo), SGX (Singapore), HKEX (Hong Kong).
  • The competent authority in the country in which it was incorporated, and the competent authority in at least one of the countries in which it has operated as a stock exchange member for at least three years, have a cooperation agreement with the Israeli Securities Authority.
  • A remote member's equity shall not be less than the equity required of it in the country in which it was incorporated, or in countries in which it operates as a stock exchange member and from which it is applying to operate on the Tel Aviv Stock Exchange, or than the equity required of an NBCM (approx NIS 22 million), whichever is higher.
  • A remote member shall insure itself with appropriate insurance, including its activity on TASE.
  • A remote member shall have the mechanism, means, computer systems and professional personnel required for its regular activity on TASE.
  • A remote member shall appoint a senior manager who shall be responsible on its behalf for its activity on TASE
  • There is a duty to notify the TASE of the appointment or retirement of the manager responsible for activity on the TASE.
 
Qualification conditions for a remote member are detailed in the TASE Rules and Regulations.

 

 

Additional Links

         List of TASE Members