Tel Aviv Stock Exchange profit jumps 37% to 68.3 million shekels in third quarter
Key Facts
The Tel Aviv Stock Exchange increased net profit 37% year on year to 68.3 million shekels in the third quarter of 2026, compared with 50 million shekels in the same period of 2025, according to its published financial results. The jump came as revenue grew faster than costs, with the former rising 19% and the latter 4%. The exchange said growth in its activities, including clearing-house services and trading and clearing commissions, contributed to higher revenue. The results reflect a quarter of expansion in market value and trading activity. Chief Executive Itai Ben-Zeev also pointed to the market’s continued positive trend despite security developments and geopolitical tensions.
The exchange’s revenue reached 175.3 million shekels in the third quarter, compared with 147.1 million a year earlier, according to the results statement. Costs rose to 87.6 million shekels from 84.5 million over the same period, with the exchange attributing the increase mainly to employee benefits expenses and share-based payments. The widening gap between revenue growth of 19% and cost growth of 4% is reflected in the reported figures, alongside the increase in net profit. The exchange recorded 61 trading sessions during the quarter, compared with 62 sessions in the third quarter of 2025, a decline of 2%. Revenue and profit therefore increased during a quarter in which the number of sessions fell year on year.
The market capitalization of shares on the Tel Aviv Stock Exchange expanded to 3.1 trillion shekels at the end of the third quarter of 2026, compared with 1.8 trillion at the end of the corresponding quarter of 2025 and 2 trillion at the end of 2025, an annual increase of more than 72%, according to the statement. Foreign investors accounted for 40% of trading at the end of the quarter. About 155 thousand new securities accounts have also been opened in Israel since the start of 2026. Ben-Zeev said the market had shown “a positive trend and a significant increase in trading activity, despite security developments and geopolitical tensions,” linking this to the resilience of the Israeli economy. These indicators put the exchange’s profit growth in the context of rising market value, broader participation and more active trading.
In the first nine months of 2026, the exchange’s revenue rose 31% to 544 million shekels, compared with 414.2 million in the same period of 2025. Net profit over the same period increased 74% to 224.7 million shekels from 129.4 million, according to the results. The average daily value of trading in the equity market was 5.2 billion shekels in the first nine months, compared with 3.4 billion in 2025, an increase of 52.4%. The TA-35 and TA-125 indexes rose 15.8% and 11.2%, respectively, during the period, while the Dow Jones and S&P 500 indexes rose 7.2% and 12.7% in the comparison cited in the statement. The nine-month figures show expansion in revenue, profitability and trading alongside gains in local indexes.
Primary market activity included 21 initial public offerings by new companies in the first nine months of 2026, including 6 companies in the third quarter, raising a total of 7.8 billion shekels. In the corporate bond market, businesses raised 136 billion shekels since the start of the year, while Finance Ministry issuance totaled 112 billion shekels. After the exchange moved to trading from Monday to Friday, average daily equity trading on Fridays reached 4 billion shekels, according to the statement. Ben-Zeev said the financial results reflected “the strength and resilience of the Israeli capital market,” pointing to continued growth in trading activity. These figures round out the picture of activity accompanying the quarterly results, from IPOs to share trading and bond issuance.