Tuesday July 4 2017

News Source: Global Exchanges

Focus: Other

Type: Correspondence with Exchange




The Israel Securities Authority (ISA) has announced that the TASE Clearing Houses are to be considered a Qualifying Central Counterparty (QCCP) in accordance with complies with CPMI-IOSCO’s Principles for financial market infrastructures (PFMI).

The decision of the Israel Securities Authority to recognize the clearing houses as qualified, is the product of a two-year process during which a large number of activities were carried out to improve the risk management system, corporate governance and other areas of activity in the TASE Group, similarly to what has been done in the world’s leading clearing houses in recent years.

The recognition attests to reduced risks, the strength of the clearing houses and their activity in accordance with international standards.

In addition, the TASE clearing houses will continue to be considered by the Bank of Israel as a qualifying central counterparty, and accordingly, the capital allocation of banking corporations due to exposure to TASE clearing houses will remain reduced. The reduced allocation and the certainty thereof will allow banking corporations to increase their activity at Israeli capital market.

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