Tel-Aviv Stock Exchange Custody Fee Update Gains Approval

Author: Dylan Bailey Updated: 09-25-2024 01:39 PM

Tel-Aviv Stock Exchange Custody Fee Update Approval

The Tel-Aviv Stock Exchange Ltd. (TASE) has recently announced an important update regarding the custody fees charged by its Clearing House. This approval came from the Israel Securities Authority and marks a significant change for the exchange's operations.

Details of Fee Update

The updated custody fees, also referred to as account management fees, will be implemented in three phases. The first phase of the fee updates is scheduled to begin on January 1, 2025. Following this, the second phase will take effect at the end of one year, and the final phase will be initiated at the end of two years from the start date. This systematic approach is designed to facilitate a smooth transition for Clearing House members.

Impact on Clearing House Members

This update specifically affects members of the TASE Clearing House who are not solely custodians. By adjusting these fees, TASE aims to align with the current market standards and address the operational requirements of its members. With these changes, the exchange looks to enhance its services while maintaining competitive pricing structures.

Board of Directors' Role and Decision

The approval of the fee updates followed a careful review and subsequent sanctioning by the Board of Directors of the Tel-Aviv Stock Exchange. Their decision reflects a strategic vision to ensure that the TASE remains responsive to evolving market dynamics and member needs.

Contact for More Information

For further inquiries or additional information regarding the custody fee updates, interested parties may contact Orna Goren, who is the head of communication and public relations at TASE. She can be reached directly at the provided telephone number to address any questions or clarifications.

Frequently Asked Questions

What is the custodian fee update?

The custodian fee update pertains to the changes in account management fees charged by the TASE Clearing House to its members, aimed at 2025 implementation.

When will the custody fee updates take effect?

The custody fee updates will be implemented in three phases, starting on January 1, 2025, with subsequent adjustments occurring annually.

Who does the fee update affect?

The fee update is relevant to TASE Clearing House members who are not exclusively custodians. It impacts their cost structure in the handling of accounts.

What prompted the update to custody fees?

The update was initiated to align with market standards and operational needs, ensuring TASE's services are competitive and efficient.

How can I get more information about the updates?

For detailed inquiries, individuals can reach out to Orna Goren, the head of communication at the Tel-Aviv Stock Exchange, for assistance.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

My goal is to enable people to choose wisely and consciously in their investments, so taking charge of their financial futures. By my work, I hope to create a community of informed and self-assured investors prepared to take advantage of the chances presented by the stock market.

Contact Dylan Bailey privately here. Or send an email with ATTN: Dylan Bailey as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.