Tel Aviv Stock Exchange (TASE) CEO Yossi Beinart decided, after re-examining the matter, that the Tel Aviv Stock Exchange will move to its new offices in 2 Ahuzat Bayit beginning next Thursday.

The Tel Aviv Stock Exchange recently examined a number of options - including renting offices in Tel Aviv, and building an off-site computer center - and it was found that the move to new building is the “most attractive option, both financially and practically,” according to the TASE announcement.

The move will be carried out according to a pre-set methodology prepared with the support of Hewlett Packard Co. (NYSE:HPQ), which specializes in managing user moves. The first phase of the move will take place next Thursday, June 26. The move will include four phases and will be completed at the end of July.

The new building has infrastructures that are suited to the computerized trading systems and communications systems that the TASE operates. The building has 10 floors of offices, two of which have not yet been completed and are expected to serve future TASE growth, or be rented out. The building’s computer center was built according to the principle of “around the clock trading” and the necessary investments to handle various scenarios were made - it is underground and is 1,000 square meters in size. 700 square meters are for hardware, and 300 square meters are to hold personnel in emergencies.

The building has a visitors’ center, which is intended for educational activities for students, and a conference center holding 260 people. The building is also equipped with advanced electromagnetic systems and backup systems in case of system failure.

Published by Globes [online], Israel business news - www.globes-online.com - on June 18, 2014

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