Tel Aviv Stock Exchange Profits Surge 37% Year-Over-Year, But Decline Sequentially
Translated & summarized from Calcalist by baba
The Tel Aviv Stock Exchange (TASE) saw its net profit jump 37% year-over-year to NIS 68.3 million in the third quarter of 2026, though profits and revenues declined from earlier quarters. Trading volumes increased significantly, driven by foreign investors and extended trading days. However, the IPO market slowed considerably, with offerings and fundraising down sharply. The TASE stock has surged 77% this year.
The story in 6 lines · by baba
- Tel Aviv Stock Exchange net profit rose 37% year-over-year to NIS 68.3 million in Q3 2026.
- Despite annual gains, TASE profits and revenues fell compared to the first two quarters of 2026.
- Average daily trading volume increased 13.2% year-over-year to NIS 3.6 billion in Q3.
- The number of public offerings dropped 62% to 10, with fundraising down 68% to NIS 1.9 billion.
- TASE stock price has increased 77% year-to-date, significantly outperforming the market.
- CEO Itay Ben-David holds TASE shares valued at approximately NIS 500 million.
The Tel Aviv Stock Exchange (TASE) reported a 37% year-over-year increase in net profit for the third quarter of 2026, reaching NIS 68.3 million compared to NIS 50 million in the same period last year. Total revenues grew by 19% to NIS 175.3 million, while expenses rose by a more modest 4% to NIS 87.6 million. Despite the strong annual growth, the exchange's net profit and revenues were lower than in the first and second quarters of the year, which recorded NIS 77 million and NIS 79 million respectively.
The revenue increase was attributed to continued growth in capital market activity. The average daily trading volume in stocks and derivatives, excluding ETFs and foreign funds, rose 13.2% to approximately NIS 3.6 billion in the third quarter compared to the previous year. For the first nine months of the year, the average daily volume surged 62.5% to about NIS 4.4 billion. This growth was supported by the shift to Friday trading and increased activity from foreign investors.
Revenue from trading and clearing fees increased by 13% to NIS 61 million, and clearinghouse service revenues jumped 41% to NIS 55.6 million, marking the highest growth rate among TASE's income sources. Income from listing fees and dues grew 9% to NIS 27.7 million.
Conversely, the IPO market experienced a significant slowdown. The number of public offerings dropped by 62% from 26 in Q3 2025 to 10 in the current quarter, with initial public offerings (IPOs) falling from eight to six. The amount raised through public offerings plummeted 68% from NIS 6 billion to NIS 1.9 billion.
The TASE stock has soared 77% since the beginning of the year, reaching a market value of NIS 13.5 billion, significantly outperforming the TA Finance Index's 16% rise. CEO Itay Ben-David, who owns 3.7% of the company, holds shares worth an estimated NIS 500 million on paper.
