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:
“[Panurge] spent everything in a thousand little banquets and joyous feasts open to all comers, particularly jolly companions, young lasses, and delightful wenches, and in clearing his lands, burning the big logs to sell the ashes, taking money in advance, buying dear, selling cheap, and eating his wheat in the blade.”
—François Rabelais (1494–1553)
“You know, what I very well know, that I bought you. And I know, what perhaps you think I don’t know, you are now selling yourselves to somebody else; and I know, what you do not know, that I am buying another borough. May God’s curse light upon you all: may your houses be as open and common to all Excise Officers as your wifes and daughters were to me, when I stood for your scoundrel corporation.”
—Anthony Henley (d. 1745)