Clearing Houses
Two clearing houses operate at the TASE as subsidiaries:
- The TASE Clearing House was established in 1966. It clears all securities transactions executed on and off the stock exchange and carries out income payments on behalf of companies. The TASE Clearing House also operates a Global Clearing, Settlement, and Custody Services unit in collaboration with Citigroup.
- The Derivatives Clearing House was established in 1993 with the opening of the TASE derivatives market. It is responsible for clearing options and futures traded on the TASE.
Read more about this topic: Tel Aviv Stock Exchange
Famous quotes containing the words clearing and/or houses:
“Though the words Canada East on the map stretch over many rivers and lakes and unexplored wildernesses, the actual Canada, which might be the colored portion of the map, is but a little clearing on the banks of the river, which one of those syllables would more than cover.”
—Henry David Thoreau (1817–1862)
“Nothing will be left white but here a birch,
And there a clump of houses with a church.”
—Robert Frost (1874–1963)