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Stock Market Guide to the Tel-Aviv Stock Exchange

The Tel-Aviv Stock Exchange, also known as TASE, was established in 1935 and is the only stock exchange that is available in Israel. The TASE has a broad spectrum of securities trade products of approximately 1100, that include convertible bonds, shares, government bonds, futures, warrants and corporate bonds. The indices that are available are the TA25 Index, TA100 Index, TA75 Index, Tel-Tech15 and the TA Banking Index. The Tel-Aviv Stock Exchange is supervised and regulated by the Israel Securities Authority, under the 1968 Securities Law. Companies that want to be listed on the TASE can list themselves under any of the four programs that are available. Companies can be listed under two programs simultaneously, being dual listed. The programs, which are AMEX, NYSE, LSE and NASDAQ, are specifically chosen that three programs can accommodate normal companies and the fourth can assist technological companies that are in the developmental stages. A direct link to the DTC, allows the TASE to link up with the United State's markets, through the Depository Trust and Clearing Corporation. This system accommodates trade from the companies that are dually listed. At present, the Tel-Aviv Stock Exchange has approximately 660 companies that are listed in the exchange. In 2000, the Tel-Aviv Stock Exchange, were proud to have twenty-three of its listed companies be included in the FTSE All-World Index. The FTSE All-World Index is a new facility that lists up to 49 of the exchanges that are located across the world. Companies such as the Bank of Israel, Direct Investments House Ltd, HSBC Bank Plc, DS Securities and Investments Ltd and Prisma Capital Markets Ltd are listed on the exchange.

Living standards in Israel are the highest in the entire Middle East
and
so are the living costs. Many of the immigrants and Palestinians do not
prosper here, and do not share in the wealth of the economy, as their
wages
hardly ever cover the basic accommodation and food costs. The economy
of
Israel was boosted by Intel that opened the doors to the technological
industry, combined with decrease in funds having to be poured into the
military budget.

Even though mining plays a significant role in the economy, the
extraction of petroleum from the Dead Sea is a small-scale operation.
The
agricultural sector is very successful. There is not much land
available for
farming, and yet they are able to provide the domestic demand with up
to 75
% of required products. Citrus fruits, dairy products, eggs, cotton,
poultry, beef and vegetables are supplied by the agricultural sector.
The
economy relies heavily on the aid that it receives from the United
States of
America, and cannot function without this help. The industrial sector
produces products such as wood products, food, phosphates, plastics,
textiles, medical equipment, tobacco, construction, metal, footwear,
diamond
cutting, communications and beverages.

The major export markets consist of Belgium, the United States and
Hong
Kong, and exported products include software, agricultural products,
machinery, chemicals, cut diamonds and equipment. Goods such as rough
diamonds, fuels, raw materials, investment products, and military
equipment
is imported from the United Kingdom, China, Switzerland, Belgium,
Germany
and the United States.

Tel-Aviv Stock Exchange Website