Collaboration also includes the exploration of
new products in ESG, ETFs, indexes and data
The New York Stock Exchange, part of Intercontinental Exchange,
Inc. (NYSE: ICE), and the Tel Aviv Stock Exchange (TASE) today
announced that they have signed a memorandum of understanding for a
broad collaboration that includes the dual listing of
companies.
The NYSE and the TASE will explore ways to identify dual-listing
candidates, promote the benefits of dual listings, and support
related marketing activities. The two exchanges also will consider
the development of new products in the areas of ESG, ETFs, indexes
and data.
The memorandum of understanding was finalized during a visit to
the NYSE by Ittai Ben-Zeev, Chief Executive Officer of the Tel Aviv
Stock Exchange and Salah Saabneh, Chairman of the Tel Aviv Stock
Exchange.
“The New York Stock Exchange is pleased to announce this
collaboration with the Tel Aviv Stock Exchange, allowing two
organizations renowned for innovation to share their experience and
expertise,” said Lynn Martin, NYSE President. “Our
exploration of dual listings will provide investors with potential
exposure to listed companies and economic activity in both markets.
The importance of our global capital markets has never been
greater, and we look forward to demonstrating what two great
exchanges can accomplish when they work together.”
“This major step is intended to foster collaborations between
the two exchanges and to encourage the dual listing of Israeli
companies in their home market and on the NYSE,” said Ittai
Ben-Zeev, CEO of TASE. “Dual listing serves the interests of
Israeli companies and of the State of Israel by allowing companies
to maintain a strong link to Israel and ecosystem it offers while
benefiting from the upsides of listing on the world’s largest
exchange. In addition, the two exchanges will collaborate in a
variety of other areas, including ETFs and ESG with the view to
diversifying and enhancing the Israeli capital market. The
agreement with NYSE is the natural next step for TASE as it
continues its growth momentum in all areas of activity and for the
Israeli capital markets, which experienced robust and stable
performance in its major indexes at this turbulent time."
Dual listing companies on both the NYSE and TASE can potentially
broaden the investor pool for these securities and provide
investors with exposure to two of the world’s most innovative
economies.
About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE:
ICE), a leading global provider of data, technology and market
infrastructure. NYSE Group’s equity exchanges -- the New York Stock
Exchange, NYSE American, NYSE Arca, NYSE Chicago and NYSE National
-- trade more U.S. equity volume than any other exchange group. The
NYSE, an ICE exchange, is the premier global venue for capital
raising. NYSE Arca Options and NYSE Amex Options are leading equity
options exchanges. To learn more, visit nyse.com.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune
500 company that designs, builds and operates digital networks to
connect people to opportunity. We provide financial technology and
data services across major asset classes that offer our customers
access to mission-critical workflow tools that increase
transparency and operational efficiencies. We operate
exchanges, including the New York Stock Exchange, and
clearing houses that help people invest, raise capital and
manage risk across multiple asset classes. Our comprehensive fixed
income data services and execution capabilities provide
information, analytics and platforms that help our customers
capitalize on opportunities and operate more efficiently. At ICE
Mortgage Technology, we are transforming and digitizing the
U.S. residential mortgage process, from consumer engagement through
loan registration. Together, we transform, streamline and automate
industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for
certain products covered by the EU Packaged Retail and
Insurance-based Investment Products Regulation can be accessed on
the relevant exchange website under the heading “Key Information
Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2021, as
filed with the SEC on February 3, 2022.
About the Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange (TASE) was established in Israel in
September 1953. As of August 1, 2019, the Tel Aviv Stock Exchange
is a TASE traded public company, following its IPO at the end of
July 2019. The shares trade under ticker symbol “TASE”. TASE
plays a central role in the Israeli economy and provides a market
infrastructure that is central to the economy’s growth. As TASE is
the only securities exchange in Israel, where access to it is
protected by high barriers to entry in terms of regulation and the
need for reliable technological infrastructure, Israeli companies
and the Israeli government rely on TASE’s markets for capital and
liquidity.
TASE is the “home court” for Israeli companies seeking to raise
capital to meet their growth and liquidity objectives. In so doing,
TASE contributes significantly to Israel’s economic growth and
employment.
TASE is also the “home court” for the Israeli investment
community and provides investors with a reliable and comprehensive
trading platform for the buying and selling of a wide range of
securities and other financial instruments. TASE serves hundreds of
thousands of investors, including households, who invest in TASE’s
markets, largely through investment management companies including
pension funds, insurance companies, provident funds, advanced study
funds and other entities.
TASE provides markets for the listing and trading of a vast
range of securities and derivative instruments. These include
shares, corporate bonds, government bonds, Treasury bills, ETFs,
convertible securities, single stock options, options and futures
on equity indices, and options and futures on foreign currency
exchange rates. Trading is fully automated, order-driven, real-time
and continuous through our sophisticated Tel Aviv Continuous
Trading system.
TASE’s headquarters are located at 2 Ahuzat Bayit Street, Tel
Aviv.
Category: NYSE
ICE-CORP
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version on businesswire.com: https://www.businesswire.com/news/home/20221206005804/en/
NYSE Media Contact: Bridget Walsh bridget.walsh@nyse.com (212)
656-2298 ICE Investor Contact: Katia Gonzalez
katia.gonzalez@ice.com (678) 981-3882 TASE Media Contact: Liran
Gordon lirang@tase.co.il +972 50 651 9944 Orna Goren
ornag@tase.co.il +972 52 3400 843
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