The Securities Authority will promote the possibility of reporting in English

The Securities Authority published a version for the public's comments to promote regulations for the possibility of reporting in English. Allowing companies traded in Israel to report in English will lead to alignment with the practice in leading international markets, and will enable wider access of the local capital market to foreign companies and international investors.
Today, about 60 companies that operate in the framework of the dual listing arrangement are traded on the Tel Aviv Stock Exchange and are reported in English. These companies are traded on foreign exchange exchanges, which are listed for trading in Israel and are required to report in accordance with foreign law.These companies are a significant share of the Israeli capital market in terms of market value and trading volumes, and in addition to the US stock exchanges and the stock exchange London, the dual listing arrangement now includes three additional exchanges: Singapore, Hong Kong and Toronto.
At the same time, the Authority's staff is working with foreign regulators to promote "reverse" recognition in Israeli law, which will enable companies traded on the Tel Aviv Stock Exchange to be traded on foreign markets on the basis of Israeli disclosure and reporting rules. These arrangements are expected to assist in the development of the Israeli capital market in the international arena, while increasing the presence of international companies, both Israeli and foreign, on the stock exchange.
"In my view, connecting the Israeli capital market to the international arena is a necessity in dealing with the challenges posed by globalization processes and in helping to develop and position the Israeli market in the international arena. The possibility of reporting in the English language is expected to remove the language barrier and further open the Israeli market to the world. The Authority will continue to act to develop the Israeli capital market, to increase the supply of products and to make it available to global capital markets through other initiatives. "