Information for Listed Companies
|General Information for Companies|
|Listing Securities on TASE|
|Restructuring of public debt|
|Market Making on TASE|
A market maker in securities is a TASE member, which quotes bid and ask prices for designated securities throughout TASE trading at spreads and for quantities set by the TASE. In this manner, the market makers provide liquidity for those securities in which it operates, enabling investors to buy and sell these securities at any given time.
TASE develops and calculates a wide variety of indices. An index reflects average price levels of a selected group of securities. The TA-35 index, for example, reflects average prices of TASE's 35 most highly capitalized shares. Index changes reflect average returns to investors from these shares.
All constituent shares in a TASE index must meet the criteria of the "equity indices universe
" and each index has its own specific rules regarding its potential constituent securities.
The Tel-Bond indices
track the average price movements of corporate bonds. Other indices track various groups of securities and are published at the end of the trading day.
On the TASE website, each index has a dedicated "Index Page", which includes the following tabs:
- About the Index
- Index Components (Constituents)
- Index Linked Notes – additional TASE-traded products based on the index (i.e., for which the index serves as underlying asset)
- Charts – from 2000 onwards
- Historical Prices – from 2000 onwards
- Corporate Disclosures – latest filings by index constituents from the MAYA website (Hebrew only)
|Maintenance list, Trading suspensions, Illiquid Securities|
TASE-traded companies must meet certain criteria at the time of their offering and throughout the duration of their TASE listing. These criteria are anchored in the TASE Rules and Regulations.
Minimum requirements imposed on TASE-traded companies, which constitute a condition for their continued TASE listing. The shares of companies placed on the Maintenance List are designated in the market data tables by a "Mn" ( ) notation next to their name on the TASE website market data pages.
For the list of shares currently on the maintenance list,>
Trading in a security can be suspended for a period of time, if there is a suspicion that it is not possible to conduct fair and orderly trade in that security. Shares placed on the suspension list are designated in the market data tables by a "Sus" ( ) notation next to their name on the TASE website market data pages.
For the list of shares for which trading is currently suspended >
Rules set by TASE enable companies failing to meet maintenance requirements or for which trading in their securities has been suspended to renew regular trading on the main list, i.e., the list on which most securities are traded.
Securities which continue not to meet the criteria enabling orderly trade in them are ultimately delisted from TASE.
Illiquid (Thinly Traded) Securities
A list of illiquid traded shares was established for the purpose of reducing the potential for manipulation of these shares. Securities placed on this list are traded only twice a day during the opening and closing multilateral auctions and are not continuously traded. Illiquid securities are designated by a "IS" ( ) notation next to their name on the TASE website market data pages.
For the list of shares currently on the illiquid securities list >
|"TACT- Institutional" and Non-listed Securities (NLS) Services|
TASE operates a "professional market" for trading in bonds and convertible securities privately placed without a prospectus to institutional investors. "TACT Institutionals" is the trading platform for trading in these securities between institutional investors.
The TASE Clearing House (TASE-CH) provides clearing ,settlement and custody services for securities issued to institutional investors in private placements, which are not listed on TASE (Non-listed Securities)
|Trading Days and Holidays|
| ||TASE Website Services for Issuers|
|Updating a corporate logo or URL|
It is possible to display the listed company's logo and website address on the TASE website "company page" (Hebrew and English versions).
In case the company changes either its logo (English or Hebrew) or its website address, it should send an email to firstname.lastname@example.org
, specifying which items need updating. Updates must be submitted by a company representative.
High-resolution English and Hebrew logos must be submitted in one of the following file formats: JPG, GIF, PNG, BMP, PSD.
|Links to English language corporate financial statements from the company page|
The TASE website facilitates foreign investor access to the financial statements of TASE-traded companies. On the English language TASE website company page it is possible to place a direct link to the company's corporate website, which contains periodic reports in English. This is in addition to the link to the corporate website homepage.
The link to periodic reports in English must be constantly set to lead to the most recent disclosed statements on the corporate website. If the link changes, the company should notify TASE so that it may avoid the placement of "broken links".
Requests to place or change a link of this type on the TASE website company's page should be submitted by email to email@example.com
with the link as specified above. Updates must be submitted by a company representative.
|Viewing intraday market data|
One may view intraday transaction data only for the current trading day, up until the beginning of the following trading day.
For historical intraday data, contact one of the data vendors dealing in TASE market data.
|Data dissemination – end-of-day raw data files|
On the "Market Data > File Distribution
" menu, one can find raw data in ASCII format, which contain information on TASE-listed companies, traded securities, end-of-trading day statistics, the composition of indices, changes in capital listed for trade, etc.
The raw data files are called "Data Type". These files can be downloaded by clicking the relevant row in the "uncompressed" column (".tas" format). The same files can be downloaded in a "zip compressed" format as well.
For the purpose of deciphering data in a data file, one can view "in the structure data type column" (".def" file) listing all data types by clicking on the name of data type requested (left column).
A picture of the screen depicting the format of the table follows:
Data Type" is constructed as a series of alpha-numeric characters. In order to decipher the various fields one must divide the series of numbers according to the field length definitions in the relevant ".def" file. It is subsequently possible to decipher each field separately according to type.
Payment-based download of data files
The download of data files other than those available for free download is subject to payment.
The list of Available Data Files can be accessed through Market Data> Raw Data
Details regarding payment can be found on the TASE Price List
To purchase access to files, e-mail firstname.lastname@example.org
Use of data
|MY TASE personal portfolio|
|Does TASE have Rules & Regulations? And if so, do they allow the TASE to set guidelines?|
The law requires the Tel Aviv Stock Exchange, as a condition for obtaining a license, to implement rules. The rules must be approved by the Israel Securities Authority and the Minister of Finance.
The TASE Board of Directors may amend the TASE Rules. The change requires the approval of the Israel Securities Authority, who in turn submits a notice of the change in to the Minister of Finance. The change takes effect ten days after the date the notice is delivered, unless the Minister of Finance states his objection to the change before the end of the said period. Changes in the regulations pursuant to the TASE rules require the approval of the Israel Securities Authority.
The rules and regulations of the TASE include, among other things, rules regarding: TASE members, listing of securities for trading, trade suspensions and maintenance rules, trading on the TASE, publication of information by the TASE, and the commissions the TASE collects.
|Additional explanations on how to navigate the TASE website|
| ||Corporate Actions and Disclosures and TASE announcements|
|Corporate Actions and Disclosures and TASE announcements |
The TASE operates a website for publishing Corporate Actions and Disclosures alongside TASE announcements ("MAYA").
The Corporate Actions website
(available in English) includes information on dividend and interest payment dates, bonds redemption data, tender offers.
Other filings of listed companies and mutual fund managers are currently available in Hebrew only.
In addition, various TASE announcements are published on Maya, such as decisions of the Board of the Directors, Changes on TASE Rules and Regulations, TASE indices component updates.
|What can a company do to have an expected financial report release date appear on MAYA?|
Given the grave importance TASE and the Israel Securities Authority place on the release of traded companies' financial reports, their valuation and decision to invest in them, TASE publishes a table of impending payment dates as well as expected publication dates of financial reports.
A company can inform the TASE on an expected date for its financial statements publication by means of an immediate reporting, or by sending an e-mail - by it or by its investor relations - to email@example.com or by posting notices on various information dissemination sites.
After publication, this information can be viewed on MAYA > Corporate Actions under the tab "Financial Reports Schedule".
|Inquiries by public companies to TASE|
We can be contacted through the "Contact Us" form
, which is arranged according to topic.
Extensive and useful information regarding TASE activity can be found on the TASE website.
For Frequently Asked Questions for TASE-listed companies, click here
For an explanation regarding the structure of the website menus, click here
For a site map, click here
|Public inquiries to TASE|
Extensive information on TASE activities can be found on the TASE website.
For an explanation regarding the structure of the website menus, click here.
For a site map, click here.
Inquiries can be submitted:
- Through the "contact us" form, which is classified according to topic.
- Telephone: 076-8160411, on TASE business days.
- Fax: 076-8160309.
- Address: 2 Ahuzat Bayit St. Tel Aviv, 6525216.
Historical data is available for payment through the "contact us" request by selecting "Historical Data"