JERUSALEM, May 16 (Xinhua) -- The Tel Aviv Stock Exchange (TASE) plans to open trading on Fridays to align with global standards, TASE said in a statement on Thursday.
The Israeli stock exchange currently operates on Israel's weekdays, Sundays through Thursdays, and closed on the Friday-Saturday weekend. TASE does not operate on Friday as it is a short workday.
The move is supposed to align TASE's trading-day format with the world's main stock exchanges, aiming to remove barriers for global investors, increase benefits for Israeli companies and investors, and enhance liquidity, according to the statement.
It is promoted in collaboration with the Israel Securities Authority and Israel's central bank, given the importance of strengthening the international profile of public companies and the Israeli capital market, especially at this time of conflict, TASE noted.
To examine the benefits and implications of the change, TASE published on Thursday a call for public comments on two optional formats, of a six-day trading from Sunday to Friday, or opening on Fridays instead of Sundays. ■
