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79-827: The company is traded in the Tel Aviv Stock Exchange under the symbol POLI, and is part of the Tel Aviv 35 Index. Reuven Krupik was appointed Chairman of the Board in 2020, and Yadin Antebi was appointed CEO in August 2024, succeeding former CEO Dov Kotler. The bank was established in 1921 by the Histadrut , the Israeli trade union congress (lit. "General Federation of Laborers in the Land of Israel") and

158-511: A $ 2 billion fine in a case from the United States Department of Justice . On 30 August 2020, TV 2 and Berlingske released a report detailing how Danske Bank lost track of over 100,000 customers' accounts, which resulted in customers overpaying their debts. The issue was caused by a 2004 IT system migration, as well as several other database and accounting errors that have existed since 1979. Danske Bank issued an apology, calling

237-663: A branch of Danske Bank. In 2014, The Estonian Financial Supervision Authority found "large-scale, long-lasting systemic violations of anti-money laundering rules" in the Estonian branch of Danske Bank and notified the Danish authorities on the findings. According to the Estonian Financial Supervision Authority, the activities decreased after they requested the bank to target the violations. In October 2017, Danske Bank confirmed that French authorities were investigating

316-593: A branch of Danske Bank. In February 2019 Danske announced that it will cease its banking operations in Latvia. Origins of Danske Bank in Russia traces back to Industry and Finance Bank (Profibank) was acquired by Sampo in 2006. after acquisition of Sampo Bank by Danske, it became a branch of Danske Bank. In February 2019 Danske announced that it will cease its banking operations in Russia. Authorities in Denmark, Estonia, France, and

395-528: A considerable discount from both the banks and the investment houses, so that the fees collected from the larger traders are at tariffs approaching the TASE pricelist. Furthermore, the Israeli banks collect a range of different fees in relation to transactions with TASE, such as distribution fees for mutual funds and " custodianship fees ", which is an archaic fee that very few of the investment houses continue to collect; it amounts to 0.1–0.2% annually and originates from

474-656: A controlling shareholder. In 2021, the bank reported a net profit of 915 million shekels ($ 267 million) in Q4 2020, compared to a net loss of 629 million shekels in Q4 2019. The bank's credit portfolio continued to grow, and it entered the digital wallet sector and made deals with banks in Bahrain and the UAE as a part of the Abraham Accords. Net profit for 2023 totaled NIS 7,360 million, compared with NIS 6,532 million in 2022. The main driver of

553-681: A day, a 55% increase over the previous year. The number of exchange-traded funds (ETFs) grew to 240. The Tel Bond-20 index was also launched that year. The TA-25 rose 175% in the period 2004–07. In May 2008 Northern Trust started the first US exchange-traded fund on the NYSE based on TASE's benchmark, the TA-25 Index. As of May 25, 2010, TASE's largest stocks by market capitalization were Teva Pharmaceutical Industries ($ 51.5 billion), Israel Chemicals ($ 14.3bn), Bank Leumi ($ 6.1bn), and Bezeq ($ 6.0bn). Daily turnover of shares and convertibles in 2009

632-475: A fee that is 100–200 times higher than the TASE fee charged to them. It is usually possible to obtain a discount of tens of percent from the banking pricelist, just by asking, even if volumes are not significant (reducing the fee to 0.2–0.3%). The fee collected from low-volume traders by non-bank members (i.e., the investment houses) is lower (approximately 0.1%), only some 20 times higher than the TASE fee. Significant-volume private and institutional traders receive

711-709: A for-profit company, while separating the ownership and control of TASE from membership therein. The Israel Securities Authority has regulatory oversight over TASE's operations, as well as over the Tel-Aviv Clearing House, the MAOF Clearing House and the Tel-Aviv Stock Exchange Nominee Company, which are wholly owned subsidiaries of TASE. In 2018, the Nominee Company was established as a private subsidiary of TASE. The Nominee Company

790-575: A higher value and more stringent threshold criteria in relation to the free float. The Tamar universe comprises some 350 shares, including smaller value shares as well as shares with a lower free float. (formerly, the MAOF Index ) Danske Bank Danske Bank A/S ( pronounced [ˈtænˀskə ˈpɑŋˀk] , lit.   ' Danish Bank ' ) is a Danish multinational banking and financial services corporation. Headquartered in Copenhagen, it

869-569: A one-time grant of 210 million shekels ($ 60.6 million), whereas the bank also plans to reduce its workforce by over 900 jobs through an early retirement plan. On 30 April 2020, the bank was found to be complicit in tax evasion and money laundering relating to FIFA and bidding for the World Cup. It was ordered to pay fine of $ 874.3 million after pleading guilty to the first charge, which involved helping US taxpayers to stash some $ 7.6 billion in more than 5,500 secret Swiss and Israeli bank accounts. It

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948-587: A public company itself, listed on its own exchange since August 1, 2019. It is regulated by the Securities Law (1968) and is under the direct supervision of the Israel Securities Authority (ISA). The TASE plays a significant role in the Israeli economy , facilitating the trade of securities and the raising of capital and debt for companies and the government on the Israeli capital market. Trading on

1027-558: A share's maximum weighing in an index. For instance, the Tel Aviv 25 Index, which was considered TASE's flagship index was expanded from 25 to 35 shares, with its name being changed to the TA- 35 Index , accordingly. The maximum weighting for a share in the Index was reduced from 10% to 7%. One of the main objectives of the reform was to reduce the level of concentration in the indices. Since more than 70% of

1106-472: Is engaged in two main areas of activity: it ensures the proper and complete registration of the number of securities registered in its name (held by the public) and serves as a conduit for the transfer of payments deriving from corporate actions (such as dividends, interest) between the issuing companies and the end-holders of the securities. In August 2018, the Israel Securities Authority approved

1185-427: Is no excuse for a foreign financial institution to unlawfully assist wealthy Americans in flouting their responsibilities to pay their taxes. With today's guilty plea, Bank Hapoalim is taking responsibility for their role in deliberately breaking the law and undermining the integrity of this nation's tax system." Assistant attorney general Brian Benczkowski stated that "for nearly five years, Bank Hapoalim employees used

1264-624: Is one of the three commercial banks in Northern Ireland which are permitted to issue their own banknotes. Origins of Danske Bank in Estonia traces back to 1992 when Eesti Forekspank was established. In 1995, Raepank merged with. In 1998, Eesti Forekspank merged with Eesti Investeerimispank (EstIB) to create Optiva Bank. In 2000, Optiva was acquired by Finnish Sampo Bank and Optiva was accordingly renamed Sampo Pank . In 2007, when Danske Bank acquired Sampo's banking business, Sampo Pank became

1343-619: Is the largest bank in Denmark and a major retail bank in the northern European region with over 5 million retail customers. Danske Bank was number 454 on the Fortune Global 500 list for 2011. The largest shareholder with 21% of the share capital is A.P. Moller Holding, the investment holding company of the Maersk family. It was founded 5 October 1871 as Den Danske Landmandsbank, Hypothek- og Vexelbank i Kjøbenhavn ("The Danish Farmers' Bank, Mortgage and Exchange Bank of Copenhagen "), and

1422-453: Is traded on the Tel Aviv Stock Exchange . At the end of 2015, the bank had 11,930 employees worldwide. Up until 2018, Arison Holdings , led by Shari Arison , owned approximately 20% of Bank Hapoalim’s shares. In late 2018, Arison announced the gradual sale of her holdings, concluding this process in September 2022 when shares worth over one billion shekels were sold, leaving the bank without

1501-678: The Cayman Islands . In recent years, the bank's international presence has significantly reduced, and by 2023, only the New York branch remained operational. Bank Hapoalim reached an agreement that canceled the labor dispute called by the Histadrut labour federation in December. The January 2020 deal, according to the regulatory filing by the bank in Tel Aviv, suggests to raise worker wages by an average of 3.7% from 2018 to 2022, bank employees will also get

1580-635: The Financial Supervisory Authority of Estonia (due to location of branch). Danish prosecutors filed four preliminary charges in November 2018. As a consequence of the money laundering scandal Danske Bank was named as 2018's most corrupted actor by the Organized Crime and Corruption Reporting Project . A Danish woman was remanded in custody in relation to the scandal in December 2021. In December 2022, Danske Bank pled guilty and agreed to

1659-591: The London Stock Exchange's Main Market and the Nasdaq Small Cap Market. Today, tens of dual-listed companies are traded on TASE (being listed in Tel Aviv and on overseas exchanges, in parallel). In 2005, market makers began operating on TASE. In 2007, the annual volume of securities and convertibles hit a new record of NIS 593.2 billion. Since 2008, against the backdrop of the global economic crisis ,

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1738-822: The United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank , including East Jerusalem , as well as in the occupied Golan Heights . These settlements are considered illegal under international law . Bank Hapoalim was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "banking and financial operations helping to develop, expand or maintain settlements and their activities" in these occupied territories. On 5 July 2021, Norway 's largest pension fund KLP said it would divest from Bank Hapoalim together with 15 other business entities implicated in

1817-648: The Zionist Organisation . The bank was owned by the Histadrut until 1983, when it was nationalized following the Bank Stock Crisis . The bank was held by the Israeli government until 1996 when it was sold to a group of investors led by Ted Arison . The bank has a significant presence in global financial markets. In Israel, it has over 600 ATMs (automated teller machines), 250 bank branches, 7 regional business centers, 22 business branches and industry desks for major corporate customers. The bank's stock

1896-467: The "hostile control" by the Israel Securities Authority and the regulator's interference in the executive management of the bourse as the main reasons for his resignation. Increase in trading volumes in 2020 The average daily trading volume on the equities market in 2020 amounted to approximately NIS 1.9 billion, some 35% higher than the average volume in the years 2015–2019 (that amounted to approximately NIS 1.4 billion per day). The major contributor to

1975-486: The 1960s, the scope of activity on TASE was limited and, in 1965, only 80 companies were listed on TASE. At the end of January 2021, 457 companies were listed on TASE with a total market cap of NIS 837 billion. Since the Israeli stock exchange indices reform at the beginning of 2017, there have been two equity universes. The Rimon universe is the senior of the two and comprises some 230 shares that are suitable to be used as underlying assets for derivatives. Such shares have

2054-503: The Baltic countries and Russia. Between 2007–2012, Sampo Bank was responsible for Danske Bank's operations in Finland after Danske Bank acquired Sampo Group 's banking business while it retained its insurance business. Sampo Bank traced its origins back to 1887, to Postisäästöpankki (translated Postal Savings Bank), a bank associated with the national post office , which accepted deposits from

2133-594: The Belfast Banking Company. Northern Bank was one of the Big Four banks in Northern Ireland. Danske Bank bought the bank from National Australia Bank in December 2004, and Northern Bank continued to operate under its own name until it took on the name of its parent company as its trading name in November 2012. The bank is considered one of the leading retail banks in Northern Ireland with 44 branches and three business centres. Northern Bank trading as Danske Bank

2212-465: The CEO of Bank Leumi. In the office that served as the stock exchange, daily trading within the framework of the "Exchange Bureau of Securities" lasted for just one hour. Among those that conceived the original idea were bankers who had immigrated from Germany such as Max Kollenscher and his brother Leo. In 1968, TASE activity was regulated by law and the Israel Securities Authority, which supervises TASE activity,

2291-634: The Dutch pension fund PGGM blacklisted Bank Hapoalim for its involvement in the financing of settlements in the Palestinian territories . In October 2017, Danish pension firm Sampension banned investment in Hapoalim alongside three other companies operating in illegal Israeli settlements in the West Bank , including Bank Leumi , Israeli telecoms firm Bezeq and German firm Heidelberg Cement . On 12 February 2020,

2370-692: The ETF is subject to the Joint Investment Trusts Law. TASE collects fees from its members on every transaction executed thereon, calculated in thousands of a percent of the asset value in the case of the TACT system and in tens of agorot per MAOF option unit. Citizens interested in trading on TASE do so through the TASE members (the abovementioned banks and investment houses), which collect a considerably higher fee for their services from low-volume traders. The banks collect, using their default pricelist (0.6–0.8%),

2449-471: The European MSCI. Several financial products are traded on TASE: The fund does not guarantee a return linked to the movement in the index and the return for the investor can be higher or lower than the movement in the selected index, due to the fund's trading activity and the deviation (generally, small) in the composition of the fund's assets. Actually, an ETF is obligated to make its best effort to track

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2528-524: The Index's weighting related to just 10 shares, a sharp change in the value of just one of these would cause the Index to react dramatically, and the Index was considered to be too concentrated. As part of the reform, new indices were created with the aim of raising investors' interest in TASE and increasing activity thereon. The new indices that were created are: the TA-BlueChip15Price, the TA-SME150 and

2607-632: The Republic of Ireland operation was renamed National Irish Bank Limited whilst Northern Bank Limited remained the name of the Northern Ireland operation. Nonetheless, a single management team continued to run both banks, which shared many services and back office functions. During this era, the logo of the National Irish Bank was that of the National Australia Bank (at the time), except that the red star had been recoloured green, and "Irish Bank"

2686-628: The TA Rimon indices. The Israeli Stock Exchange has 23 members The central Bank of Israel In 1960, TASE moved to its own premises in the "Passage" at 113 Allenby Street in Tel Aviv and, in February 1983, TASE moved premises to 54 Ahad Ha'Am Street in Tel Aviv. In 2001, a Visitors Centers was opened on the historic trading floors of the TASE building. Educational visits took place in the Visitors Center, as well as conventions and events associated with

2765-585: The TASE and the Toronto Stock Exchange signed a memorandum of understanding, committing to the cultivation of stronger ties between the two exchanges. TASE only operates from Sunday through Thursday. TASE does not operate on Friday as it is a short workday. TASE also does not operate on Israeli national and religious holidays[2]. Every so often, the idea of changing the trading days is raised such that TASE would not operate on Sundays and would operate on Fridays. The reasons for proposing this change include

2844-510: The TASE is conducted exclusively through its 23 members, which include major banks and investment houses that collect a fee for their services. The TASE was founded in 1953, with its precursor dating back to 1935. As of 2021, it lists 473 companies, 901 series of corporate bonds, 204 series of government bonds, 416 index-tracking products, and 1,231 mutual funds. The exchange's market capitalization for equities stands at US$ 216 billion, and for bonds at US$ 196 billion. The Tel Aviv Stock Exchange

2923-665: The TA–25 index topped the Bloomberg Riskless Return Ranking list, outperforming 23 other developed-nation benchmark indexes when adjusting for volatility. CEO Ester Levanon resigned on 18 July 2013, effective 31 December 2013. A week later, on 25 July 2013, Chairman Saul Bronfeld resigned. According to Bloomberg, the executives' decisions follow a drop in trading volume and the bourse's failed bid to join MSCI Inc.'s Europe Index. Bronfeld, who served as chairman since 2006, cited

3002-506: The UN report for their links to Israeli settlements in the occupied West Bank. Tel Aviv Stock Exchange 34°46′14″N 32°03′52″E  /  34.77059°N 32.06455°E  / 34.77059; 32.06455 The Tel Aviv Stock Exchange ( TASE ; Hebrew : הַבּוּרְסָה לִנְיָירוֹת עֵרֶךְ בְּתֵל אָבִיב ), colloquially known as The Bursa , is the only public stock exchange in Israel and

3081-504: The US financial system to launder tens of millions of dollars in bribe payments to corrupt soccer officials in multiple countries", while William Sweeney, assistant director of the FBI's New York field office, said that "Bank Hapoalim admits executives looked the other way, and allowed illicit activity to continue even when employees discovered the scheme and reported it." In January 2014, Danske Bank and

3160-530: The United Kingdom have launched investigations related to large-scale money laundering through Danske Bank. In 2018, the bank also faced a criminal investigation from the United States Department of Justice into the affair that saw €200bn of non-resident money flow through its branch in Estonia , which was under the supervision of the Financial Supervisory Authority of Denmark (due to location of headquarter) and

3239-470: The afternoon (and for derivatives – 17:35) local time ( GMT +2). Since March 8, 2020, trading on Sundays occasionally ends at between 15:49 and 15:50 local time ( GMT +2). Correspondingly, derivatives trading on such Sundays ends 35 minutes earlier, viz. at 16:00 on local time ( GMT +2). Calcalist reported in May 2024 that TASE is expected to begin operating also on fridays. This will allow TASE to be included in

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3318-459: The bank closed its 27 branches to focus on corporate and private clients. On 31 October 2013 Danske Bank announced it would be withdrawing all personal banking services in the Republic of Ireland on a phased basis in the first half of 2014. Origins of Danske Bank in Lithuania traces back to 1994 when Lietuvos Vystymo bankas (Lithuanian Development Bank) was established. Lietuvos Vystymo bankas

3397-429: The bank to cease its operations in the country within 8 months. In February 2019 Danske announced that it will cease its banking operations in Estonia. In October 2019, the bank closed down all its banking activities in Estonia. Origins of Danske Bank in Latvia traces back to 1996 when Maras banka was established. Maras was acquired by Sampo in 2004, and after acquisition of Sampo Bank by Danske, Sampo banka became

3476-476: The bank's involvement in money laundering . On 31 July 2018, Estonia 's prosecutor general, Lavly Perling, opened a criminal investigation following allegations that the bank had facilitated large-scale money laundering through its Estonian branch. On 19 September 2018, Danske Bank confirmed that Thomas Borgen , CEO of the bank, would resign due to the money laundering scandal. In September, Denmark's Financial Supervisory Authority reopened its investigation of

3555-493: The bank, and the United Kingdom's National Crime Agency announced that it was investigating the use of UK-registered companies. In October, the bank confirmed that the United States Department of Justice had also launched a criminal investigation. In November, Danish prosecutors filed four preliminary charges against the bank. In February 2019, the Estonian Financial Supervisory Authority ordered

3634-475: The capital market[ On July 24, 2014, TASE moved to its new home on the corner of Montefiore Street and Ahuzat Bayit Street, close to the Shalom Meir Tower. The TASE complex stands on a one and a half dunam plot that was acquired by it in 2007 at a cost of NIS 58 million and construction took five years. The 14 story building tops out at 60 meters and has 22,600 m of floor space. The nonstandard ratio between

3713-558: The case "deeply regrettable," and offered compensation for account holders that the bank confirmed were affected by the issue. In a press release, the bank estimated that the total compensation for customers would be 80-100 million DKK (approximately US$ 13–16 million). The incident also raised questions on if the bank misled the Financial Supervisory Authority , which may result in fines or disciplinary actions. The Danske Bank share price dropped more than 70% following

3792-573: The curtain on the trading floors era and completed the changeover to fully automated trading making use of a "continuous" trading system (TACT). In 2000, the Knesset passed Amendment No. 21 to the Securities Law, which makes it easier for companies whose shares are listed in the United States, to also list in Tel Aviv ("dual listing"). In July 2005, dual listing was expanded to include companies listed on

3871-508: The disclosure of the Estonian money laundering scandal and the company was subsequently targeted by activist shareholders . Michael Strabo of Strabo Investments Limited publicly argued the Board of Directors should consider selling the company and implement a share buyback program in order to create shareholder value . In February 2024 Danske Bank announced a share buyback worth DKK 5.5 billion, representing 60bp of CET1 and management expressed

3950-408: The dividends (15.8 billion shekels) in 2022. The remaining dividends were paid to stakeholders. The average dividend yield of the listed companies in 2023 amounted to approximately 2.9%, compared to about 2.8% in the previous year. This was the highest yield since 2017, topping the yield of the record year of 2022. The market value in 2023 was approximately 9% lower than in 2022, while the total dividend

4029-435: The energy, oil and gas sectors, as well as in the banking and financial services sector. The Tel Aviv Stock Exchange reported that 206 listed companies distributed dividends totalling approximately 27.2 billion shekels in 2023. This was slightly less than the all-time high recorded in 2022 when 233 companies distributed about 28.6 billion shekels. Despite these uncertainties, the percentage of public holdings in traded stocks on

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4108-399: The exchange has gradually increased over the recent years, reaching 63.3% by the end of 2023. This trend contributed significantly to an increase in the proportion of dividends received by the public. The year 2023 also marked a record in the total dividends distributed to public shareholders, which was about 62% of the distributed sum (16.8 billion shekels), as opposed to approximately 55% of

4187-563: The general public during 2020, compared to some 98,000 new accounts in 2019, a 44% increase. The pace at which non-bank members acquired new members – some 170% more than in 2019 – was particularly noticeable. Among the banks, the growth was 36% up on the previous year. In 2023, despite significant events such as war and legal reform, about 40% of the companies listed on the Tel Aviv Stock Exchange continued to distribute dividends to their shareholders. This included notable dividends in

4266-590: The increase is 19.3% growth in income, which was driven by rate hikes and the growth in activity, and despite a NIS 1.9 million credit loss provision booked in 2023. The bank has operated several international subsidiaries: In the City of London and Poalim Asset Management (UK) Limited; in the United States ( New York City , California, and Miami ) and in Canada; BHI Private Banking , Switzerland Bank Hapoalim (Switzerland) Ltd., Zürich , Geneva , Luxembourg , South America , and

4345-457: The index and, as such, the ETF should generate a similar, if not an identical, return to the movement in the index that it tracks. An ETF is a hybrid product, since it is listed on TASE like any other security listed on TASE and can be bought or sold on TASE. However, in addition to this, the investor has the possibility of buying or selling the ETF, in a similar fashion to open-end mutual funds (funds that are not listed on TASE). Like mutual funds,

4424-554: The infrastructure for launching new indices. At the beginning of 2017, the Knesset passed the second and third readings of a law for TASE's demutualization, which created the outline for turning it into a for-profit company. In April 2017, the Knesset passed an amendment of the Securities Law enabling changes to TASE's ownership structure; in September 2017 the District Court ratified the TASE demutualization arrangement, enabling changes to TASE's ownership structure, whereby TASE became

4503-590: The international operations were established by a series of acquisitions: of Östgöta Enskilda Bank in Sweden in 1997, of Fokus Bank in Norway in 1999, of Northern Bank in Northern Ireland in 2004, and of Sampo Bank in Finland, the Baltic countries, and Russia in 2007. In February 2019, following the money laundering scandal at its Estonian branch, Danske Bank announced that it will cease all its banking activities in

4582-407: The local back-office active for internal activities. Like the other Scandinavian countries, Sweden is one of Danske Bank's largest markets. Danske Bank's Northern Irish subsidiary Danske Bank UK was founded as the Northern Banking Partnership in Belfast in 1809. It became a public company in 1824 taking the name Northern Banking Company Limited. It became Northern Bank in 1970, after merging with

4661-425: The lowest volume since 2004. In 2016, TASE launched an analysis project for high-tech companies, within the framework of which the international research company, Frost and Sullivan, publishes informational and financial analyses regarding technology and biomed companies that are listed on TASE. In 2017, the TASE indices underwent a reform – "the diffusion reform", which had several objectives, including: improving

4740-528: The number of stories and the building's height is due to the building having stories with high ceilings, such as the ground floor that rises to a height of 10 meters. In 1993 TASE had the third largest number of IPOs of all the world stock exchanges. In 2005, non-Israeli investment in TASE reached an all-time high of NIS 2 billion, while the TA-25 increased 34%. By the end of the year foreign investment banks UBS , Deutsche Bank , and HSBC had become members of TASE. In 2007, trading averaged $ 500 million

4819-447: The public at post offices. In 1970, the company was renamed Postipankki (Post Bank). In 1988, the bank became a full-service bank. It was organized as a state-owned limited company. In 1997, the company merged with Suomen Vientiluotto (Finnish Export Credit) to form Leonia Pankki . Leonia Pankki was merged with Sampo Group in 2000, and in 2001 was renamed Sampo Pankki . At the same year, Mandatum Bank merged with Sampo Group. Mandatum

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4898-426: The relatively low trading volume on Sundays, due mainly to the world's main stock exchanges not operating on Sundays. The TASE trading schedule on workdays is divided into five phases: "Pre-opening", "Opening auction", "Continuous trading", "Pre-closing", and "Closing auction" On the days when operations are conducted, trading is executed between the hours of 9:25 in the morning (derivatives – from 9:45) and 17:25 in

4977-457: The rise in trading volumes was global coronavirus pandemic, which reached Israel in February 2020, and led to a steep increase in trading volatility on the markets. Growth in the number of retail accounts with Israeli members of TASE in 2020 The Israeli capital market was stormed by the local retail public in 2020, which opened a significantly greater number of new accounts with TASE members than in 2019. Some 141,000 new accounts were opened by

5056-433: The sale of 71.7% of TASE's shares to five groups of foreign investors. On August 1, 2019, trade in TASE shares commenced on the Tel-Aviv Stock Exchange. The 2017 indices reform At the beginning of 2017, TASE carried out a comprehensive reform of the security indices listed on it and established new indices. Among the principal changes made by the reform was expanding the number of shares included in each index and lowering

5135-449: The stability of the TASE indices, broadening the sectoral diffusion within the various indices, setting more stringent threshold terms for the flagship indices and easing the threshold terms for the other indices, encouraging foreign investors to invest in the TASE indices, significantly increasing the free float rate for the shares included in the flagship indices, fully realizing the potential of small and medium company shares, and enlarging

5214-447: The tightening of the regulatory regime in which TASE operates (by the Israel Securities Authority , the Capital Market, Insurance and Savings Division at the Israeli Ministry of Finance, the Anti-Money Laundering Authority, etc.) and other factors, the number of trading participants and trading volumes have become less significant. In 2012, the annual volume of securities and convertibles amounted to just NIS 265.1 billion (a 54% decrease) –

5293-489: The time had 70 Israeli companies listed on the exchange, with a combined global market capitalization of over US$ 60 billion. In July 2008, the TASE entered into a memorandum of understanding with NYSE Euronext . At the time seven Israeli companies traded on the NYSE. In November 2008 the TASE and the Shanghai Stock Exchange signed a memorandum of understanding, with delegations to be sent to each other's markets to deepen understanding and promote trade. In February 2010,

5372-454: The time when securities were actual paper documents that were kept in a safe for the bank's customers. In the digital world, the justification for this fee is less clear and most of TASE's non-bank members do not collect this fee from their customers; the banks too are tending to waive this fee for some of their customers. TASE publishes a fees comparison table on its website, which allows the different trading fees to be swiftly compared. During

5451-424: Was US$ 432 million, $ 1,035M of bonds and exchange-traded notes (ETNs), $ 163M of T-bills, and 252,000 options and futures contracts. Total market capitalization at the end of 2009 was $ 189bn shares and convertibles, $ 174bn government and corporate bonds, and $ 23bn T-bills, a total of $ 386bn. On April 25, 2010, TASE's benchmark TA-25 index reached a record high of 1,239 points. For the decade ending 12 February 2012,

5530-451: Was acquired by Sampo in 2000, and after acquisition of Sampa Bank by Danske, Sampo bankas became a branch of Danske Bank. In 2015 Danske Bank established an IT service centre for its group of companies, Danske Group IT Lietuva (DGITL), in Vilnius . During the past years, Danske Bank has employed more than 4,000 employees in Lithuania. In 2019, Danske Bank announced its intentions of ceasing all banking operations in Lithuania, but keeping

5609-405: Was added alongside the word "National". The original Northern Bank logo had been the Midland Bank griffin . On 10 May 2012, Danske Bank announced that Northern Bank and National Irish Bank would be merged on 1 June 2012, under the Northern Bank management team and the Danske Bank name, effectively reversing the separation between the two. The rebrand was completed on 18 November 2012. At the time

5688-522: Was commonly known as Landmandsbanken ("the Farmers' Bank"). In 1976, the bank changed name to Den Danske Bank ("The Danish Bank"), and the current name was adopted in 2000. Danske Bank was at the heart of what has been described as possibly the largest money laundering scandal in history when in 2017–2018 it was revealed that €800 billion of suspicious transactions had flowed through the Estonia -based bank branch of Danske Bank from 2007 to 2015. The bank

5767-615: Was created in 1998 by a merger of Interbank Osakepankki , established in 1988, and Mandatum & Co., established in 1992. On 15 November 2012, Sampo Bank was renamed Danske Bank after banking operations were uniformed under one brand. The purchase of Sampo Pankki by Danske Bank with just over €4 billion was the largest purchase in cash to date in Finland. Danske Bank has set up its own captive technology centre in India, Bangalore called Danske IT Services India Pvt Ltd. The centre has been sold off to Infosys in 2023. Danske Bank's Irish subsidiary

5846-507: Was established in 1953. Even prior to this, commencing in 1935, securities trading was carried out in the Land of Israel and, afterwards, in the State of Israel at the mandate-period Anglo-Palestine Bank (today, Bank Leumi ). The trade was conducted at the bank, in the office of Mordechai Pinchas Hasson , an Israeli banker who was one of the founders of the Exchange Bureau of Securities and

5925-445: Was established. In 1983, TASE was hit by the bank stock crisis , during which the share price of Israel's four largest banks collapsed – resulting in the state's nationalization of the banks and a third of the public's investment in them being wiped out. In the same year, TASE moved from its premises at 113 Allenby Street to a building at 54 Ahad Ha'Am Street, Tel Aviv. In 1993, trade in derivatives commenced. In 1999, TASE brought down

6004-643: Was formerly known as the National Irish Bank, and was originally the Republic of Ireland branch network of Northern Bank, the oldest 'joint stock' bank in Ireland (dating back to 1824). National Irish Bank was created as a separate entity in 1986, at first under the name Northern Bank (Ireland) Limited, when its then owners, UK-based Midland Bank , separated Northern Bank's operations in the Republic of Ireland from its Northern Ireland business. In 1987, both banks were acquired by National Australia Bank (along with Midland Bank's Scottish subsidiary, Clydesdale Bank ). In 1988

6083-513: Was investigated by authorities in multiple countries. In 2022, Danske Bank pled guilty and agreed to a $ 2 billion fine in a case from the United States Department of Justice . Danske Bank group operates a number of local banks around the Nordic region ( Denmark , Norway , Sweden , and Finland ) as well as in Northern Ireland . In Denmark, the major expansion occurred in 1990 after the merger with Kjøbenhavns Handelsbank and Provinsbanken . Most of

6162-476: Was only about 5% lower than the previous year. In February 2007 the TASE signed a formal memorandum of understanding with the London Stock Exchange intended to smooth the trading of securities listed on both exchanges. At the time, 50 Israeli companies were listed on the London Stock Exchange. A similar memorandum of understanding was signed with The Nasdaq Stock Market in November 2007. NASDAQ at

6241-572: Was the second-largest recovery by the US Department of Justice since it began investigating the facilitation of US tax evasion by foreign banks in 2008. It was ordered to pay $ 30 million in forfeitures and fines in relation to the second charge, which pertained to helping launder more than $ 20 million in bribes and kickbacks for officials involved in the corruption scandal that embroiled football's world governing body FIFA in 2015. Internal Revenue Service criminal investigation chief Don Fort said, "There

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