TEL AVIV, Israel, Nov. 24, 2021 /PRNewswire/ — The Tel-Aviv Stock Exchange (TASE: TASE) published today for public discussion a proposal for a significant reduction of the cost of real-time data to private investors.
Two years ago, TASE made a significant move by enhancing the accessibility of trading data and enabling the display of real-time streaming data to private investors at a cost that is substantially less than that paid by business clients. Today, many investors in the Israeli capital market enjoy streaming market data (Level 1), on par with international standards, for only NIS 4 a month.
TASE is dedicated to strengthen its ties with the public and enhancing the public’s involvement and participation in the success of the Israeli economy, especially in view of the public’s growing interest in investments on TASE. Accordingly, it now proposes a further reduction of the prices for data vendors and TASE members looking to provide real-time streaming data, for optimal access to market data by private investors.
To date, even after previous price reduction, most private investors receive static data displays. In order to make dynamic, real-time updated data available to private customers, TASE proposes to further reduce the cost of Real time streaming data to private investors.
The proposed change will allow TASE members to offer an advanced display of the trading data via cellular apps and innovative developments, at particularly low prices, to small and new customers, making it easier for existing and new brokerage firms to provide an attractive offering for trading on TASE.
As part of the change, the cost of distribution of streaming data to private clients through TASE members and data vendors will be reduced by close to 50%, depending on the number of data recipients. Accordingly, the price of a Level 2 data package will be reduced from NIS 35 to NIS 15-18 and the cost of Level 1 data package may drop to NIS 1 per customer per month.
Additionally, for small customers with an investment portfolio value of less than NIS 25,000, the price of a Level 1 data package will be only NIS 1
Another proposed step concerns the distribution of market data through financial websites. At present, websites present trading data to the public at a 15-minute delay. According to the proposal, websites that are solely engaged in the display of data will be able to offer real-time security prices to users for a monthly cost of only NIS 1 per user.
A draft for public comments concerning the reduction of costs for private customers was posted this morning on TASE’s MAYA website. The public is welcome to offer its comments until September 13, 2021. Thereafter, taking the comments that are received into consideration, the proposal will be presented to the Board of Directors of TASE for approval.
It should be noted that TASE is currently also working to enhance the overall transparency and accessibility of the trading data. Within this framework and pursuant to the Israel Securities Authority’s approval, in the final quarter of 2021 TASE is planning to launch a new data service – Market by Order data offering. The new data feed will include the full order book. At present, only the five highest price levels are distributed to the market at any given time per security. When the service is launched, market players will be able to view all price brackets in the market, as well as the composition within the levels. This data service is available in most global exchanges and its launch is part of TASE’s strategy of alignment with international standards. The new data feed will be distributed alongside the current market by price data feed.
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SOURCE The Tel Aviv Stock Exchange Ltd.
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