Tel Aviv Stock Exchange plans major overhaul as it targets NIS 1 billion in annual revenue
The exchange’s new strategic plan calls for a public holding company, new businesses and 15%-18% annual revenue growth through 2031.
The Tel Aviv Stock Exchange (TASE) plans to transform itself into a holding company over the coming years, according to its strategic plan for 2027-2031, released Wednesday evening.
Unlike the current structure, in which all of TASE’s operations are consolidated within a single entity, the plan calls for the establishment of a public holding company. Under the new structure, the exchange itself, the clearing houses, and the index, data, and technology divisions would operate as separate subsidiaries, alongside additional companies to be established in the future. The move is intended to give TASE greater flexibility to make acquisitions, bring in partners, and enter new business areas, including through mergers and acquisitions.
The plan includes new objectives alongside initiatives previously announced by the exchange that have yet to be implemented. Among other things, TASE plans to establish a company for trustee services and another to provide administrative services to funds operating in non-regulated sectors. Through these initiatives, the exchange seeks to expand beyond trading and clearing revenues and enter the market for ancillary services for asset managers and corporations, which is currently served by a relatively limited number of players.
At the same time, under the leadership of Ittai Ben-Zeev, TASE reiterates in the plan that it is continuing to examine, jointly with the Securities Authority, the possibility of extending trading hours. Under the framework currently being considered, trading in Tel Aviv could extend into the evening, increasing the overlap with trading hours in New York. TASE believes the move would enable investors in Israel to respond in real time to corporate announcements and macroeconomic data released after the close of regular trading in Tel Aviv. At this stage, the matter remains under review, and no decision has been made on implementation.
TASE’s market capitalization stands at approximately NIS 11.9 billion ($3.9 billion), following a roughly 65% rise in its share price over the past 12 months. The increase in its market value has coincided with sharp growth in the exchange’s revenues and profits. In the first half of 2026, TASE posted an annualized revenue run rate of approximately NIS 740 million ($243 million), compared with revenue of NIS 564 million ($185 million) in 2025 and NIS 438 million ($144 million) in 2024, representing increases of about 31% and 29%, respectively.
Under its new strategic plan, TASE has set a target of 15%-18% annual revenue growth through 2031, up from the 10%-12% target in its previous plan. If it achieves the new growth rate, annual revenue could reach approximately NIS 1 billion ($328 million) as early as 2028.
The expansion follows TASE’s recent efforts to develop additional revenue streams beyond its traditional business activities. Among other initiatives, the exchange held talks over the sale of its indices business to a foreign entity, alongside a strategic partnership in the field. The negotiations, however, concluded this year without a deal.
