Tel-Aviv Stock Exchange Custody Fee Update Gains Approval
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.
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