The Tel-Aviv Stock Exchange announced that Deutsche Securities Israel, a subsidiary of Deutsche Bank AG, has become an exchange member. Membership enables direct access to trading on the exchange.
Deutsche Securities Israel becomes the TASE's second international member after UBS, which joined the exchange in 1997. The TASE Board of Directors approved the German bank's membership on July 1.
Deutsche Bank has Euro 878 billion in assets and approximately 66,900 employees, and offers financial services in 74 countries throughout the world. Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.
The TASE lists more than 580 companies including 37 dual-listings (companies with shares traded both in Tel-Aviv and in the U.S.). The exchange trades shares, fixed-income instruments and derivatives on a single, fully automated, trading platform. Clearing and settlement of all trades are executed in-house, through the TASE's wholly owned clearing house, which also serves as Israel's central securities depository.
Published by Globes [online] - www.globes.co.il - on Tuesday, July 06, 2004