JERUSALEM, July 3 (Reuters) - Israeli cabinet ministers have approved a bill to restructure TASE ( TASE ) into a profit-making entity. Announced in Sunday , this new structure means that member brokerages and both Israeli and foreign banks such as Citicorp , Union Bank of Switzerland and Israel and the Tel Aviv Stock Exchange will become shareholders. According to Israel ’s Finance Minister Steven Scheer , this move should increase TASE ’s competitiveness, enable cooperation with foreign exchanges and put an end to Israeli banks’ control over the exchange.
Israeli cabinet ministers have approved a bill to restructure TASE ( TASE ) into a profit-making entity. Announced in Sunday , this new structure means that member brokerages and both Israeli and foreign banks such as Citicorp , Union Bank of Switzerland and Israel and the Tel Aviv Stock Exchange will become shareholders. According to Israel ’s Finance Minister Steven Scheer , this move should increase TASE ’s competitiveness, enable cooperation with foreign exchanges and put an end to Israeli banks’ control over the exchange.