TASE Launches Stock Options on Bezeq and Perrigo

TEL AVIV, Israel, June 16, 2014 /PRNewswire/ --

As part of its efforts to expand the range of derivative products traded on the Tel Aviv Stock Exchange (TASE), the TASE board of directors approved the launch of stock options on the shares of two additional companies, Bezeq and Perrigo, at its 12.6.2014 meeting. The trading of these new options will commence on 28 August 2014.

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The launch of the new options follows requests made by market players, and enables investors to trade derivatives on telecom shares, an industry not currently represented in the stock option market. In the coming period TASE plans to undertake measures which will facilitate the launch of stock options on all TA-25 index constituents.

This year TASE celebrates the five-year anniversary of stock options trading. TASE's first stock options were launched in 2009 and options on 8 individual shares are currently traded (Teva Pharmaceutical Industries, Bank Hapoalim, Bank Leumi, Israel Chemicals, Bank Mizrachi Tefahot, Bank Discount, Ratio Oil Exploration and Avner Oil Exploration), with 6,500 contracts on average changing hands each day. There has been a steady increase in the volume of stock option trading and in April of this year a record daily level of more than 11,000 contracts was attained.

TASE works towards increasing the liquidity of stock options through the encouragement of market making and through marketing and training activities for TASE members and market players.

Robby Goldenberg, Senior Vice President and Head of the Trading and Derivatives Department, remarked: "Since both Bezeq and Perrigo are among the top ten most liquid stocks on TASE, it is anticipated that the launch of stock options on these shares will be vital to the growth of Tel Aviv's stock derivatives market. It implements the recommendations of the Ben Horin Committee regarding the need to expand TASE's financial product offerings. We will continue to take steps to improve TASE's sophistication and efficiency through, among other things, the launch of derivatives on additional indices and, insofar as possible, the launch of options on all individual TA-25 index shares.

For more information please contact:
Idit Yaaron or Orna Goren, TASE, +972(3)5677-405/6
Visit the Tel Aviv Stock Exchange's Website: http://www.tase.co.il

SOURCE Tel Aviv Stock Exchange Ltd

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