Tel-Aviv Stock Exchange wants to democratize access to real-time data

The Tel-Aviv Stock Exchange is proposing a significant reduction of the cost of real-time data to private investors.

This follows an earlier move, two years ago, in which TASE enhanced the accessibility of trading data for private investors at a lower price than business clients paid.

This has resulted in many investors enjoying streaming market data (Level 1), on par with international standards, for only NIS 4 a month.

TASE ambition to democratize investing did not stop there, hence the new proposition: a further reduction of the prices for data vendors and TASE members looking to provide real-time streaming data, for optimal access to market data by private investors.

The Israeli exchange believes the move will strengthen its ties with the public and enhance its involvement and participation in the success of the Israeli economy, especially in view of the public’s growing interest in investments on TASE.

At the moment, most private investors receive static data displays. Real-time updated data available to private customers would certainly make it more dynamic. Reducing the cost of real-time streaming data to private investors is likely to result in the onboarding of investors to real-time data feeds.

TASE members are thus being proposed to offer an advanced display of the trading data via cellular apps and innovative developments, at particularly low prices, to small and new customers, making it easier for existing and new brokerage firms to provide an attractive offering for trading on TASE.

Prices are estimated to drop by close to 50%, depending on the number of data recipients, as the cost of distribution of streaming data to private clients through TASE members and data vendors gets slashed.

The price of a Level 2 data package would be reduced from NIS 35 to NIS 15-18 and the cost of Level 1 data package may drop to NIS 1 per customer per month. In addition, investors with a portfolio under NIS 25,000 would be able to pay NIS 1 per month for Level 1 data, which is 75% less than the current price.

TASE is also proposing trading data websites to offer real-time security prices to users for a monthly cost of only NIS 1 per user.

The public is welcome to offer its comments until September 13, 2021. Then, the proposal will be formally presented to the Board of Directors of TASE for approval.

Tel-Aviv Stock Exchange also plans to launch a new data service, Market by Order data offering, to enhance overall transparency and accessibility of the trading data, including the full order book.