Eurex Exchange is to list and clear index futures based on the TA-25 index, Israel’s blue chip index and one of the most heavily traded regional equity indices.
The move is the result of a new agreement between Eurex Exchange and TASE, the Tel Aviv Stock Exchange.
Eurex’s TA-25 index futures will be denominated in US dollars. The launch is planned for H1 2014.
The cooperation agreement was signed by Ester Levanon, chief executive of TASE, and Mehtap Dinc, member of the Eurex executive board, in Tel Aviv. Both partners will jointly promote the launch of the new Eurex index derivatives contracts.
Levanon says: “This cooperation with Eurex opens up exciting new investment opportunities for our investors by allowing them to develop new trading and hedging strategies. The cross-listing arrangement will contribute to the further development of the Israeli financial market.”
“This new partnership with TASE is a further milestone of our cooperation strategy to broaden Eurex’s global product suite and improve the regional footprint. For the first time, Eurex Exchange members will have access to the Middle East and benefit from direct trading opportunities in Israeli blue chip companies,” says Dinc.