The Tel Aviv Stock Exchange (TASE) Update its Pricelist for Custody Services (Account Management Fees) of the TASE Clearing House

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Jul 18, 2024, 11:34 ET

TEL AVIV, Israel, July 18, 2024 /PRNewswire/ -- Further to a review conducted by The Tel-Aviv Stock Exchange Ltd. (TASE: TASE) (hereafter - "TASE") in recent months, with the assistance of international consultants, regarding the fees charged at securities' exchanges and clearing houses worldwide, which found, inter alia, that both in relation to custody services and in relation to other clearing services, the tariffs of the TASE Clearing House in Israel are significantly lower compared to the standard fees worldwide, TASE seeks to update the custody fee charged from its members (hereafter - "the Pricelist Update").

The Pricelist Update will be carried out in three annual steps, so as to reduce the aforesaid gap between the fee charged in Israel and the customary commission in comparable capital markets. The first step will commence on January 1, 2025, the second at the end of a year of said date, and the third at the end of two years of said date.

TASE will publish a draft proposal for public comments.

It should be noted that the Pricelist Update is subject to the approval of the Board of Directors of TASE and of the Israel Securities Authority.

In the assessment of TASE, based on the total market cap of the assets that are held in custody at the Clearing House as of June 30, 2024, the full implementation of the aforesaid Pricelist Update is expected to generate TASE additional revenue from management fees in an estimated annual volume of approximately NIS 11 million in 2025, NIS 26 million in 2026 and NIS 44 million in 2027 and thereafter.

The assessments of TASE concerning the additional revenue from management fees constitutes forward-looking information, which is based on the market cap of the assets that are held in custody at the Clearing House as of June 30, 2024 and on the rate of increase in the management fees. This information may not be realized or may be realized in a materially different manner, inter alia, as a result of failure to obtain the approvals that are necessary for the Pricelist Update and as a result of changes in the volume and market cap of the assets that are held in custory at the Clearing House, to which the increased tariffs shall apply.

https://maya.tase.co.il/reports/details/1606094

Contact:
Orna Goren
Head of Communication and Public Relations Unit
Tel: +972 76 8160405
[email protected]

SOURCE The Tel Aviv Stock Exchange Ltd.