Bank Hapoalim on Tuesday launched its new trading floor in Tel Aviv, uniting all of its trading rooms under one financial- markets division, and visiting Nasdaq CEO Bob Greifeld said he was impressed.
“Israel is recognized as a leader in innovation and as the ‘Startup Nation,’ which was evident by the number of IPOs by Israeli companies on Nasdaq in 2013,” said Greifeld, who came to Tel Aviv to mark the occasion. Nasdaq, a New Yorkbased tech-focused exchange, lists nearly 70 Israeli companies.
Bank Hapoalim, which is the world leader in shekel-denominated products, said its united dealing rooms and brokerage/execution businesses would serve as a bridge between Israel and global forces that continuously raise the demand for trading services because of an increase in global trade, direct foreign investment and investment in listed securities.
“This promises significant improvements in services to clients by providing a world-class infrastructure and expertise to trade most available financial products in all important global markets,” Bank Hapoalim CEO Zion Kenan said.
“This infrastructure allows Israeli clients, both institutions and individuals alike, to trade in real time in all of the global markets, and it allows foreign investors to trade in the Israeli market, which is viewed as one of the most attractive markets among developed countries,” he said.
Over the past two years, the volume of Israeli financial investments overseas rose to $9 billion a year, while trade in global foreign-exchange markets reached $5 trillion.
During his visit to Israel, Greenfield met with President Shimon Peres, who praised Israel’s success in technology.
“Israel leans on technology and human talent,” Peres said. “The Israeli chutzpah, the will to change the way things are, to further improve quality of life and a daring spirit are the true strength of Israeli companies.”
This article was produced in conjunction with Bank Hapoalim.