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:
“Usually the scenery about them is drear and savage enough; and the logger’s camp is as completely in the woods as a fungus at the foot of a pine in a swamp; no outlook but to the sky overhead; no more clearing than is made by cutting down the trees of which it is built, and those which are necessary for fuel.”
—Henry David Thoreau (1817–1862)
“And the Harvard students in the brick
hallowed houses studied Sappho in cement rooms.
And this Sappho danced on the grass
and danced and danced and danced.
It was a death dance.”
—Anne Sexton (1928–1974)