Tel Aviv Stock Exchange upgrades back-up systems

Tel Aviv Stock Exchange upgrades back-up systems

The Tel Aviv Stock Exchange has upgraded and relocated its contingency facilities to ensure trading and clearing will continue to function in the event of an emergency at the company's main premises.

A new facility, located outside Tel Aviv, will provide full services to members and investors during extended emergencies, when operation of computers within the Tase's building may be impossible for long periods, says the exchange.

Ester Levanon, Tase executive vice president for information technology and operations, notes: "The Tase is following many exchanges worldwide, that have recently relocated their contingency facilities."

She adds that the exchange is currently installing a wireless communications system which, should circumstances dictate, would take over from the fixed-line communications used during normal trading.

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