TASE and Eurex Sign Derivatives Trading Cooperation Agreement

Thu Dec 19, 2013 8:07am EST

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TASE and Eurex Sign Derivatives Trading Cooperation Agreement

Eurex to launch index futures contracts based on TASE's main index TA-25

PR Newswire

TEL AVIV, Israel and FRANKFURT, Germany, December 19, 2013 /PRNewswire/ --

The Tel Aviv Stock Exchange (TASE), and Eurex Exchange, the international derivatives marketplace and part of Deutsche Börse Group, have signed a cooperation agreement. Under the agreement, Eurex Exchange will list and clear index futures based on the TA-25 index, Israel's blue chip index and one of the most heavily traded regional equity indexes. Eurex's TA-25 index futures will be denominated in US dollars. The launch is planned for H1 2014.

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The cooperation agreement was signed today by Ester Levanon, CEO of TASE, and Mehtap Dinc, member of the Eurex Executive Board, in Tel Aviv. Both partners will jointly promote the launch of the new Eurex index derivatives contracts.

Ester Levanon commented: "This cooperation with Eurex opens up exciting new investment opportunities for our investors by allowing them to develop new trading and hedging strategies. The cross-listing arrangement will contribute to the further development of the Israeli financial market."

"This new partnership with TASE is a further milestone of our cooperation strategy to broaden Eurex's global product suite and improve the regional footprint. For the first time, Eurex Exchange members will have access to the Middle East and benefit from direct trading opportunities in Israeli blue chip companies," added Mehtap Dinc.

By the end of Q3 2013, the TA-25 index options were the tenth most traded index derivatives contract worldwide. The year-to-date 2013 average daily volume (ADV) in TA-25 index options traded at TASE is around 190,000 contracts.

About Eurex Group

Eurex Group turns ideas into opportunities - in trading and clearing, technology and risk management. Each of the six businesses is a leader and innovator in their own area. Eurex Exchange was the world's first electronic cross-border exchange, now offering more than 1,700 products across a growing range of asset classes. Eurex Clearing is one of the leading central counterparties globally and a pioneer in risk management and post-trade technology, offering clearing services for derivatives, equities, bonds, secured funding & financing and energy transactions. In the US, International Securities Exchange (ISE) transformed the options industry as the first all-electronic exchange and is now one of the world's largest equity options exchanges. European Energy Exchange (EEX) is Europe's largest market for trading in energy and related commodities. Eurex Repo is the leading market for secured funding & financing in Europe. And Eurex Bonds is one of the most liquid markets for European bonds on an electronic trading platform.

Find out more at eurexgroup.com

Eurex Group is owned by Deutsche Börse AG (Xetra: DB1).

About TASE

Established in September 1953, the Tel Aviv Stock Exchange (TASE) is an efficient one-stop shop for the securities industry, hosting an increasingly sophisticated range of products available to investors, including shares, corporate bonds, treasury bills and bonds, index-tracking products and derivatives. TASE is a fully-automated exchange with a central order book trading system, providing clearing, settlement and depository services.

Israel is classified as a "developed market" by MSCI, FTSE and S&P and is included in the following international indices: MSCI World, MSCI KOKUSAI, MSCI Europe & Middle East, MSCI EAFE, MSCI EASE, the FTSE All World, FTSE Med-100 indices, and S&P Developed BMI. Trading on TASE is conducted through its members, which include Israeli and international banks and investment houses.

Media Contacts:

Eurex:
Heiner Seidel, phone: +49-69-2-11-1-15-00, e-mail: heiner.seidel@eurexchange.com
TASE:
Idit Yaaron, Phone: +972-3-5677564, e-mail: idit@tase.co.il

SOURCE The Tel Aviv Stock Exchange (TASE) and Eurex Exchange

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