Full Breakdown
Tel Aviv Stock Exchange Transitions to Friday Trading: A Success Story
3/26/2026, 8:10:09 AM
Significant Increase in Trading Volumes
The Tel Aviv Stock Exchange (TASE) has reported a successful transition to a Monday-to-Friday trading week, with trading volumes experiencing a remarkable increase since the change was implemented at the beginning of 2026. The average turnover on Fridays has surged to approximately NIS 3.3 billion, a threefold increase compared to the NIS 1.1 billion average on Sundays in 2025. This shift has been largely attributed to the influx of foreign investors, who now account for 44% of daily trading on Fridays, a significant rise from the 15% share observed on Sundays last year.
Impact of Foreign Investment
The TASE's strategy to align its trading schedule with global markets has resulted in heightened foreign trading activity. TASE research unit head Hadar Romano noted that the share of foreign investors in daily trading increased from 35% before the onset of conflict in late February to 41% during the war. This uptick coincided with an overall increase in trading volume, with foreign investors contributing NIS 1.9 billion per day since the war began, compared to NIS 1.2 billion prior.
Dual-Traded Stocks See Major Growth
The transition to Friday trading has particularly benefitted dual-traded stocks, which are listed both in Tel Aviv and on international exchanges. The share of foreign investors in these stocks on Fridays has risen to 48% of total turnover, compared to just 16% on Sundays. The total turnover for dual-traded stocks in Tel Aviv has increased from NIS 255 million on Sundays to about NIS 1 billion on Fridays, with foreign investors driving much of this growth.
Broader Implications for the TASE
The increased trading activity has prompted interest from international companies regarding dual listings on the TASE. Ron Klein, TASE's VP of the economic department, indicated that there is a notable rise in inquiries from companies about dual listings, with expectations for a significant number of new listings this year. This marks a shift from previous years, where such listings were rare.
Criticism & Opposition
Despite the positive trends, some analysts have raised concerns about the sustainability of this trading volume increase, particularly in light of geopolitical tensions affecting investor confidence. Critics argue that while the current data is promising, it remains to be seen whether this momentum can be maintained in the long term.
Official Statements & Responses
TASE officials have expressed optimism about the future of the exchange. Hadar Romano stated, "The move to trading on Fridays improved the overall trading volume, particularly affecting dual-traded stocks." Additionally, Klein noted the significant interest from companies in dual listings, suggesting a shift in the TASE's attractiveness to foreign entities.
Verbatim Quotes
- “The scale of foreign trading activity has increased, among other things, following the transition to a Monday-Friday trading format, which contributes to deepening liquidity in the market.” — Hadar Romano, TASE Research Unit Head
- “The change in trading days was also made so that investors could respond to overseas markets as early as Friday. Foreigners really like arbitrage activity. It allows them to make quick profits and take advantage of the gap in trading hours between overseas and Israel. When trading was on Sunday, they responded once to trading on Thursday and Friday overseas, now they can respond as early as Friday and generate quick profits for themselves.” — Hadar Romano, TASE Research Unit Head
- “We are seeing a very significant increase in companies contacting us regarding dual listing. I cautiously estimate that this year we will see a significant number of new dual listing companies. If in previous years there were zero, or one or two of these, today there is interest that was not there before, and also concrete plans from big companies to carry out dual listing.” — Ron Klein, TASE VP Economic Department
The transition to Friday trading at the TASE has not only increased trading volumes but has also positioned the exchange as a more attractive option for foreign investors and companies considering dual listings.
