Monday January 6 2025
News Source: Global Exchanges
Focus: Brokers
Type: General
Country: Israel
On 6th January 2025, the Tel Aviv Stock Exchange (TASE) announced that the first stage of the market-making reform has been completed, with the selection of 7 companies as market-making candidates. The existing securities’ market makers will be joined by nostro market participants and ETF market makers.
The candidates that passed TASE’s screening process will compete among themselves for every security in which they are interested to act as a market maker, thereby maximizing the parameters (minimum quantity and maximum spread) set for each security. TASE will rank each market maker based on its proposed parameters for the security, whereby the top-ranking market maker will be awarded market making in the security and the market-making parameters will be those of the winning market maker.
Bringing in more entities to act as market makers will increase the competition in this field and was facilitated by an amendment to the TASE Rules from 2022, which determined that a market maker (in shares and bonds) is no longer required to be a TASE member or a subsidiary of a TASE member.
The program is scheduled to be launched on May 4th, 2025.
Click on the above link for further information
