Trading
The TASE has a computerized trading system with real-time information. All shares, convertibles, treasury bills, government bonds, and derivatives are traded via TACT, the TASE’s fully automated trading system. Trading in shares takes place Sunday through Thursday between 9:00 a.m. and 4:30 p.m. local time (GMT+2). Bonds and Treasury bills are traded between 9:30 a.m. and 4:30 p.m. Derivatives trading runs from 9:30 a.m to 4:30 p.m. Dual listing is permitted, and many larger Israeli companies are dually listed on the TASE and one or more foreign markets, usually the New York Stock Exchange or NASDAQ, but also the American Stock Exchange and London Stock Exchange.
During regular trading hours the TASE can process orders of four varieties: LMT, MKT, FOK, and IOC.
TASE links to the U.S. markets with a direct link to DTC, a subsidiary of the Depository Trust & Clearing Corporation, which facilitates the trading of dually listed securities.
Active involvement of foreign investors in the TASE began in 1994. In 2006, international holdings increased to 11.6% of the total market capitalization of the shares and convertible securities tradable on the TASE, compared to 11.4% in 2005 and 10.0% in 2004. The ETF that tracks the performance of Israel's overall market is the iShares MSCI Israel Capped Investable Market Index Fund, or EIS (NYSE: EIS).
Read more about this topic: Tel Aviv Stock Exchange
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