Arbitrage shares
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This page displays shares that are listed both on the Tel Aviv Stock Exchange and on stock exchanges in New York.
Share prices on the Tel Aviv Stock Exchange are denominated in points, where one point = 0.01 shekels. Share prices in New York are denominated in dollars. The New York price is shown converted to points according to the current Bank of Israel representative exchange rate.
Actual prices are in bold. Their calculated equivalents are in normal font.
The share price flashes when the relevant stock exchange is open and the price is subject to change.
The definition of a positive arbitrage gap is that the share price in New York is higher than the price in Tel Aviv.
Shares included in the Tel Aviv 25 index are marked accordingly.
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Potential effect of arbitrage gaps on Tel Aviv 25 index
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The weighting of shares traded in both Tel Aviv and New York in the Tel Aviv 25 index is approximately 23%. The figure displayed represents the change expected in the Tel Aviv 25 index as a result of the arbitrage gaps for these shares. The expected change amounts to the expected contribution of the arbitrage shares to a change in the Tel Aviv 25 index.
In fact of course the index will also be affected by the other shares of which it is composed. Another factor to take into account is that some arbitrage gaps may not be closed, so that the theoretical effect will not be fully realized. For the sake of comparison, the right column gives the actual effect on the Tel Aviv 25 index of movements in the arbitrage shares, as well as the change in the Tel Aviv 25 index itself. Attention should be paid to the date and time of the data.
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Actual effect of movements in arbitrage shares on Tel Aviv 25 index
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This figure reflects the effect of the arbitrage shares on the Tel Aviv 25 index resulting from current trading in Tel Aviv. The effect is made up of the change in price of each share and the share’s weighting in the index. The change in the Tel Aviv 25 index itself is also shown. Attention should be paid to the date and time of the data.
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