Today the Tel Aviv Stock Exchange (TASE) announced its intention to upgrade the clearing and settlement systems of the TASE Clearing House. It plans to include “innovative models powered by groundbreaking technologies”. Generative AI, DLT and cloud were mentioned as potential technologies to be included.
It has commissioned Oliver Wyman to review the business, technology and regulatory trends with a view to setting the goals for the system. The business requirements are the focus of the first phase, with the technology needs to be explored in the second phase.
However, one of the business requirements mentioned in today’s document was the support of digital assets. In 2022 TASE laid out a five-year strategy that included plans for DLT, digital assets and crypto. Since then, it ran a trial for a blockchain-based government bond issuance. Plus, in 2023 it announced that TASE brokers could provide certain cryptocurrency services to their clients.
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