According to a recent press release, TASE seeks to play a major role within the global game. The general approach is focused on technology. That means: Developing Digital Assets and Crypto Markets and exploring Technology Sales as a New Business Line.
Ittai Ben Zeev, CEO of TASE: “The next five years are a critical window of opportunity for TASE to play an active role in the technological revolution of the global capital markets; the plan anticipates the needs of the market and takes the development and management of innovative services and products to the next level; we will not only partake in the change but aim to spearhead it; we will leverage our home court advantage in Israel to adopt and develop Fintech and position TASE as a hub of services and products. TASE will also build up the local capital market’s activity to match Israel’s economic strength and global activity, utilizing this unique opportunity for growth and expansion of its activity.“
Blockchain&Co
TASE will promote the implementation of innovative technologies, including DLT, tokenizing of various classes of digital assets and smart contracts.
TASE intends to examine multiple potential action plans, including conversion of existing infrastructure to innovative technologies, deployment of innovative technologies into specialized platforms, offering a basket of services and products for digital assets and more.
These are reflected, among others, in strong financial results with a more than double profit margin – from 9% in 2017 to close to 25% in the first half of 2022, and a growth in revenue from services of 7.5% a year over the years 2017-2022, compared to an increase of only 4% a year in the operating cash outflow during the same period.
The four strategic aims for the next 5 years are in a nutshell
1. Developing and enhancing the value proposition of TASE’s core activity.
2. Expanding and developing the direct engagement with the end customers.
3. Creating a platform for digital assets using Blockchain (DLT) and venturing into Crypto.
4. Development and sale of technological services and solutions to other exchanges and market participants.