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 the Tel Aviv Stock Exchange (TASE) into a profit-making entity. Announced in 2014, this new structure means that member brokerages and both Israeli and foreign banks such as Citicorp, Union Bank of Switzerland and Hong Kong and Shanghai Banking Corporation will become shareholders. According to Israel’s Finance Minister Moshe Kahlon, this move should increase TASE’s competitiveness, enable cooperation with foreign exchanges and put an end to Israeli banks’ control over the exchange.