TASE to Add Friday Trading to Align With Global Markets
By Aryeh Stern
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The Tel Aviv Stock Exchange (TASE) plans to adjust its schedule and include Friday in the trading week to enhance the Israeli bourse’s global standing.
The decision is aimed to align the trading days more closely with those of Wall Street and European exchanges, potentially facilitating inclusion in MSCI’s Europe category. However, MSCI had rejected reclassifying Israel in 2022, citing differences in trading days as a major obstacle.
MSCI had upgraded Israel from an emerging market to a developed one in 2010.
According to the proposal by TASE, in collaboration with the Israel Securities Authority and Bank of Israel, trading would have shifted either to Monday through Friday or Sunday through Friday, with trading on Sundays starting at 12 p.m. local time.
Sunday trading typically sees lower volumes and ends 90 minutes earlier than other weekdays.
The logistical challenge remained about how extended trading would accommodate the start of Shabbos, on Friday afternoons. Despite this, the shekel currency already traded on Fridays.
The TASE invites public comments on the proposed changes until June 30.
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