The Tel Aviv Stock Exchange announced it’s kicked off an initiative for the upgrading of its clearing and settlement systems to support the launch of advanced technologies and products that provide access to international investors and institutions.
The initiative is part of TASE’s strategic preparation for the development of advanced clearing and settlement solutions and innovative models that build on groundbreaking technologies in the field.
In coordination with the Israel Securities Authority, the exchange is consulting on upgrading of the core systems at the TASE Clearing House, with the aim of developing and integrating advanced clearing and settlement solutions in Israel as well as innovative models that build on groundbreaking technologies in the field, on par with leading international standards.
In recent years, various factors began to affect global securities clearing processes – starting in changes in the clearing times through to changes in investors’ capital allocation preferences. The emergence of new technologies, such as distributed ledger technology (DLT), and generative artificial intelligence (AI), accompanied by the transition to cloud-based solutions, also motivate global exchanges around the world to keep ahead of developments.
TASE believes that the development and upgrading of the clearing and settlement systems are crucial to its ability to prepare for upcoming developments in the capital market in the coming decades.
As part of the process, TASE will work to adapt advanced technological systems to support the clearing and settlement activity by examining and advancing, inter alia, infrastructure solutions for the clearing and settlement of innovative products, the provision of direct clearing and settlement services to end customers, the upgrading of the connectivity and links with financial market infrastructures and international investors, the promotion of advanced and innovative monetary clearing solutions, the provision of services in relation to cryptocurrency, the development of solutions and services for alternative products and more.