Amid War, Tel Aviv Stock Exchange Hits Historic Highs in 2024

Despite ongoing war with Hamas and Hezbollah, the Tel Aviv Stock Exchange (TASE) has reported record-breaking financial results for 2024, highlighting the resilience of Israel’s economy. TASE’s revenue surged by 12% to NIS 438 million ($121 million), while net profit climbed 22% to NIS 101.4 million ($28.03 million).

CEO Ittai Ben Zeev praised the performance, stating, “TASE presents a strong performance this year, reflecting the resilience of the Israeli economy in this challenging year. The Tel Aviv Stock Exchange took a leap forward as an attractive alternative for foreign investors, reinforcing its competitive standing among leading international exchanges.”

Market Performance Highlights:

• Stock Market Growth: The equities market capitalization jumped 30% year-over-year to NIS 1.4 trillion ($366.6 billion).

• Trading Volume: Daily equity trading volume rose 10%, reaching NIS 2.2 billion ($610 million).

• Bond Market Expansion: Corporate bond issuances reached NIS 123.5 billion ($34.1 billion), up from NIS 100 billion ($27.6 billion) in 2023.

• Derivatives Trading: New futures contracts on the TA-35, TA-90, and TA-Banks 5 indices boosted daily trading volumes by 25%.

• Foreign Investments: New institutional members, including Jump Trading Europe B.V. and Altshuler Shaham Trade, commenced operations on TASE. Clearstream Banking S.A., a leading European clearing house, also joined as a custodial member.

Looking ahead, TASE is implementing major changes to attract more foreign investors. A transition to a Monday-Friday trading schedule, aligning with global markets, is set for early 2026. Additionally, AI-driven real-time translations of financial reports will enhance transparency for international investors.

TASE is also expanding into the digital asset sector, working on a proposal to list exchange-traded funds (ETFs) focused on Bitcoin and other cryptocurrencies.

TASE’s Board of Directors approved a dividend of NIS 51 million ($14 million) to be distributed in March, with total shareholder returns for the year reaching NIS 526 million ($145.3 million).

Despite geopolitical challenges, Israel’s stock market remains a beacon of strength, proving that innovation and investor confidence can thrive even in uncertain times.

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