Knesset approves TASE restructuring

The Knesset has passed the second and third readings of a bill lead by Minister of Finance Moshe Kahlon to restructure the Tel Aviv Stock Exchange under a plan of the Israel Securities Authority.

The Ministry of Finance says that the main benefit is the expected reduction of fees to the public in the hundreds of million and billion annually over the years. It will open the possibility of foreign brokers joining the exchange, which will increase the competition with banks and investment houses. Restructuring should make the stock market more efficient and allow it to compete with banks and investment houses in financing through the provision of credit and other financial instruments to the public.

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