Cash & Liquidity ManagementInvestment & FundingCapital MarketsTASE and Eurex Join Forces for Derivatives Trading

TASE and Eurex Join Forces for Derivatives Trading

Israel’s Tel Aviv Stock Exchange (TASE) and international derivatives marketplace Eurex Exchange, part of Deutsche Börse Group, have signed a cooperation agreement under which Eurex will list and clear index futures based on the TA-25 index, Israel’s blue chip index and one of the most heavily traded regional equity indexes. Eurex’s TA-25 index futures will be denominated in US dollars (USD). The launch is planned for H1 2014.

The cooperation agreement was signed by Ester Levanon, chief executive officer (CEO) of TASE, and Mehtap Dinc, member of the Eurex executive board, in Tel Aviv. Both partners will jointly promote the launch of the new Eurex index derivatives contracts.

“This cooperation with Eurex opens up exciting new investment opportunities for our investors by allowing them to develop new trading and hedging strategies,” said Levanon. “The cross-listing arrangement will contribute to the further development of the Israeli financial market.”

“This new partnership with TASE is a further milestone of our cooperation strategy to broaden Eurex’s global product suite and improve the regional footprint. For the first time, Eurex Exchange members will have access to the Middle East and benefit from direct trading opportunities in Israeli blue chip companies,” added Dinc.

By the end of Q313, the TA-25 index options were the tenth most traded index derivatives contract worldwide. The year-to-date 2013 average daily volume (ADV) in TA-25 index options traded at TASE is around 190,000 contracts.

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