* Turbulent period began with resignations last July
* Beinart says has good relationship with regulators
By Clare Hutchison
LONDON, April 30 The upheaval caused by the
departures of the Tel Aviv Stock Exchange's former chief
executive and chairman has ended, allowing the new management to
focus on improving performance, its CEO said on Wednesday.
Yossi Beinart, who took charge of Israel's only stock
exchange in January, told Reuters the appointment of Amnon
Neubach as chairman last month meant the exchange could move on
from a turbulent period after Ester Levanon quit last July.
"The turmoil the exchange has been through is over finally
and we can get on with our lives and start working," he said.
In her resignation letter, Levanon expressed disappointment
that the 60-year-old exchange's board did not back her plan to
revive trading volumes.
Saul Bronfeld, who had been chairman since 2006, followed
suit a week later, a day after Israel Securities Authority (ISA)
Chairman Shmuel Hauser sent a letter to the board saying he had
failed in his job.
Beinart said his relationship with the regulator had so far
during his tenure been "great".
"They (the regulators) are really supportive, we see them as
often as we need to. If something is needed and we have a
question, it takes five minutes (to answer)," he said.
LINK WITH DEUTSCHE BOERSE
Beinart, former head of the North American Derivatives
Exchange (NADEX), was in London to give an update on its trading
cooperation agreement with Deutsche Boerse's Eurex,
scheduled to go live on June 9.
Under the agreement, Eurex will list and clear index futures
based on TASE's TA-25 index.
"(Israel) is showing a reasonably robust (growth) rate... it
is the only advanced economy in the region, so there's a lot of
interest from investors in Israel but also outside of Israel to
get exposure to the market," Beinart said.
"They can do it in many ways and one of them is to trade a
future on the biggest index we have," he added.
Beinart declined to comment on the bourse's plans to build
trading volumes, which recovered somewhat in the first quarter
of 2014 to 1.3 billion shekels ($374.5 million) a day from 1.1
billion in 2012, but remain well below average daily volume of
over 2 billion in 2010.
The TASE will present its proposals on May 12 and respond to
recommendations made by an ISA committee, including becoming a
for-profit bourse, Beinart said.
"We've worked really hard in the last three months in trying
to understand what could be done, what should be done," he said.
"We do have a plan."
($1 = 3.4776 Israeli Shekels)
(Editing by Tom Heneghan)