DEFINITION of 'Tel Aviv Stock Exchange (TLV) .TA'
The securities market in Israel. Securities exchange in Israel began in 1935 through the Exchange Bureau for Securities, before Israel was a state. Israel became a state in 1948, and its securities market became formalized in 1953 with the Tel Aviv Stock Exchange (TASE). Its major index since 1992 has been the TA-25, a capitalization-weighted index of the Exchange's largest 25 stocks.
BREAKING DOWN 'Tel Aviv Stock Exchange (TLV) .TA'
A privately-held company, the Exchange trades in stocks, convertible securities, corporate and government bonds, short-term certificates and a variety of derivatives. The TASE has used a fully electronic trading system for all trades since 1999 and is open Sunday through Thursday to allow a slight overlap with U.S. market hours. Its regulatory body is the Israel Securities Authority.