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JERUSALEM (-) – U.S. monetary providers agency Jefferies will be a part of the Tel Aviv Stock Exchange (TASE) as a distant member, the Israeli bourse mentioned on Sunday.
Jefferies will turn out to be the second distant member of the TASE together with Merrill Lynch International. A distant member doesn’t have a everlasting illustration or department in Israel.
It contrasts with different international banks like Citi, UBS, HSBC and Barclays (LON:), who’re common members and have a presence in Israel.
Israel’s securities regulator individually mentioned the addition of Jefferies would increase competitors available in the market and open Israel’s capital market to the world’s main markets.
The TASE, which has 22 members, mentioned Jefferies is without doubt one of the largest and most important worldwide gamers in Israel’s high-tech and biotech sectors. Its membership will allow the financial institution’s buyers to deepen their publicity to Israeli tech corporations.
“Our firm has been doing enterprise in Israel for 20 years … and we’re wanting ahead to serving to the continued progress of TASE and the businesses listed on it,” mentioned Natti Ginor, head of Israel markets at Jefferies.
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