Stock exchange strategy: Entering crypto, buying foreign exchanges

The stock exchange is controlled by several foreign investment funds whose shares are traded on the exchange.

MARKET DATA at the Tel Aviv Stock Exchange.  (photo credit: AMIR COHEN/REUTERS)
MARKET DATA at the Tel Aviv Stock Exchange.
(photo credit: AMIR COHEN/REUTERS)

The management of the stock exchange has just revealed the new strategy for the next five years 2023-2027, and at the core is its plan to enter the digital asset and crypto industry through the establishment of a blockchain-based platform. 

The exchange also revealed the possibility of developing and selling technologies to foreign exchanges. For the first time, the possibility of purchasing holdings in foreign stock exchanges is also being examined.

The stock exchange is controlled by several foreign investment funds whose shares are traded on the exchange. It intends to develop innovative systems in the field of clearing and reporting transactions outside of the exchange.

The digitization processes taking place in international financial markets are reshaping the types of services provided to the exchange's customers, and are an opportunity to create an open channel for direct contact with customers while expanding the range of opportunities.

As part of the plan, the management of the exchange has set a quantitative target of an average annual growth rate in revenues in the next five years of 10%-12%, resulting from organic growth in activity.

 MARKET INFORMATION is displayed on a monitor at the New York Stock Exchange. The invasion of Ukraine and the intensification of international sanctions imposed on Russia are having a strong effect on world markets. (credit: Andrew Kelly/Reuters) MARKET INFORMATION is displayed on a monitor at the New York Stock Exchange. The invasion of Ukraine and the intensification of international sanctions imposed on Russia are having a strong effect on world markets. (credit: Andrew Kelly/Reuters)

Itai Ben Zeev, Tel Aviv Stock Exchange (TASE) CEO, said that the next five years are a critical window of opportunity for the integration of the Israeli exchange into the tech revolution that the world's capital markets are going through. The program is a leap forward in the development and management of services and innovative products which reflect market trends.

He added that the exchange won't just be part of the change, but will be a leader. The TASE will leverage the domestic advantage in favor of the adoption and development of fintech technologies.