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87-719: On 25 November 2018, Elbit Systems completed the acquisition of IMI Systems and renamed it to Elbit Systems Land. Israel Weapon Industries ' small arms offerings are notable, with numerous well identified product names and de facto 'brands'. Examples are the Uzi submachine gun and the IMI Galil assault rifle , and the Negev light machine gun . In addition, such offerings as the Jericho 941 semi-automatic pistol and Tavor assault rifle are globally recognized and marketed firearms. In

174-602: A 2016 report published by The Intercept suggested that Israel has used attack drones in fatal attacks. In August 2019, Elbit Systems won an Israel Ministry of Defense contract to install the Iron Fist active protection system on the IDF's new Eitan AFV and the IDF's fleet of armored D9 bulldozers . An Elbit Hermes 450 drone was used in the 2024 World Central Kitchen aid convoy attack . Israel supplies Azerbaijan advanced military equipment and helps train its army . As

261-464: A Brazilian company in the defense industry. In January 2011, Elbit announced that it had bought two additional Brazilian companies: Ares Aeroespecial e Defesa and Periscopio Equipamentos Optronicos. In April 2011, the Brazilian aircraft manufacturer Embraer entered into a strategic agreement with AEL Sistemas S.A, a subsidiary of Elbit Systems. According to officials from the two companies, one of

348-534: A classroom based Master's In Public Administration in Emergency Management and Homeland Security. In addition, all students go to Israel for an intensive study abroad seminar covering Homeland Security and Anti-Terrorism topics with Israel's top security and military experts. Elbit Systems Elbit Systems Ltd. is an Israel-based international military technology company and defense contractor . Founded in 1966 by Elron , Elbit Systems

435-587: A considerable discount from both the banks and the investment houses, so that the fees collected from the larger traders are at tariffs approaching the TASE pricelist. Furthermore, the Israeli banks collect a range of different fees in relation to transactions with TASE, such as distribution fees for mutual funds and " custodianship fees ", which is an archaic fee that very few of the investment houses continue to collect; it amounts to 0.1–0.2% annually and originates from

522-557: A contract to supply combat management systems to the Royal Swedish Navy . On January 24, 2023, Elbit Systems Sweden announced that it was awarded a contract valued at approximately $ 48 million to equip the Swedish Armed Forces with new mobile tactical communications stations. According to the contract, Elbit Systems Sweden is to develop and deliver two Technical High Mobility Shelter (THMS) variants,

609-691: A day, a 55% increase over the previous year. The number of exchange-traded funds (ETFs) grew to 240. The Tel Bond-20 index was also launched that year. The TA-25 rose 175% in the period 2004–07. In May 2008 Northern Trust started the first US exchange-traded fund on the NYSE based on TASE's benchmark, the TA-25 Index. As of May 25, 2010, TASE's largest stocks by market capitalization were Teva Pharmaceutical Industries ($ 51.5 billion), Israel Chemicals ($ 14.3bn), Bank Leumi ($ 6.1bn), and Bezeq ($ 6.0bn). Daily turnover of shares and convertibles in 2009

696-534: A developer and manufacturer of an augmented reality smartglasses for cyclists, founded in 2016. In 2016, The Intercept reported that, starting in 2008, the US National Security Agency and UK GCHQ had been tapping into live feeds from Elbit drones (among other Israeli air force equipment) as they were flown on missions by the Israeli military and air force against targets in Gaza,

783-475: A fee that is 100–200 times higher than the TASE fee charged to them. It is usually possible to obtain a discount of tens of percent from the banking pricelist, just by asking, even if volumes are not significant (reducing the fee to 0.2–0.3%). The fee collected from low-volume traders by non-bank members (i.e., the investment houses) is lower (approximately 0.1%), only some 20 times higher than the TASE fee. Significant-volume private and institutional traders receive

870-750: A for-profit company, while separating the ownership and control of TASE from membership therein. The Israel Securities Authority has regulatory oversight over TASE's operations, as well as over the Tel-Aviv Clearing House, the MAOF Clearing House and the Tel-Aviv Stock Exchange Nominee Company, which are wholly owned subsidiaries of TASE. In 2018, the Nominee Company was established as a private subsidiary of TASE. The Nominee Company

957-739: A meeting at the Israeli Foreign Ministry where the decision was protested. In January 2010, Danske Bank added Elbit to the list of companies that fail its Socially Responsible Investment policy. A bank spokesman noted that it was acting in the interests of its customers by not "placing their money in companies that violate international standards". The Danish financial watchdog DanWatch placed Elbit on its ethical blacklist in 2011. In 2014, one of Denmark's largest pension fund administrators PKA Ltd announced it will no longer consider investing in Elbit, stating "The ICJ stated that

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1044-638: A part of the cooperation between the two states, Elbit Systems opened an office in Azerbaijan in 2011, with plans to build a plant for the joint production of unmanned aerial vehicles. In 2023, it was reported that Elbit (along with other Israeli defense manufacturers) had played an extensive role in discreetly arming the Azerbaijani army for the Nagorno-Karabakh conflict that culminated in accusations of an Armenian genocide. In April 2021,

1131-570: A share's maximum weighing in an index. For instance, the Tel Aviv 25 Index, which was considered TASE's flagship index was expanded from 25 to 35 shares, with its name being changed to the TA- 35 Index , accordingly. The maximum weighting for a share in the Index was reduced from 10% to 7%. One of the main objectives of the reform was to reduce the level of concentration in the indices. Since more than 70% of

1218-469: A two-year, $ 12.7 million contract for the supply and provision of Apache Aviator Integrated Helmets for the US Army helicopter fleet. On March 22, 2018, Elbit Systems and Universal Avionics announced that Elbit would be "completing the acquisition of the privately owned U.S. company Universal Avionics Systems Corporation [UASC] through an asset acquisition agreement." In 2019, Elbit Systems purchased

1305-576: A wholly owned subsidiary of Elbit Systems. Ronald Deibert, director of the Citizen Lab, said "the findings raised questions about the company's human rights due-diligence practices and processes for preventing misuse of its software." In a reply to an inquiry from Human Rights Watch on the topic, Cyberbit did not deny selling this kind of technology, and rejected responsibility for its possible misuse on its customers. On June 19, 2011, Elbit announced that its subsidiary Elisra Electronic Systems Ltd.

1392-483: Is engaged in two main areas of activity: it ensures the proper and complete registration of the number of securities registered in its name (held by the public) and serves as a conduit for the transfer of payments deriving from corporate actions (such as dividends, interest) between the issuing companies and the end-holders of the securities. In August 2018, the Israel Securities Authority approved

1479-692: Is the largest Israeli military manufacturer and produces 85% of the Israel Defense Force 's land-based equipment as well as 85% of the drones used by the Israeli Air Force . Elbit advertises that its equipment has been battle-tested by the IDF in operations in Gaza and the West Bank. Elbit's drones have been reportedly involved in multiple incidents involving civilian deaths. While Israel does not officially acknowledge that its drones are used to carry out strikes in Gaza or elsewhere,

1566-656: Is the only public stock exchange in Israel and a public company itself, listed on its own exchange since August 1, 2019. It is regulated by the Securities Law (1968) and is under the direct supervision of the Israel Securities Authority (ISA). The TASE plays a significant role in the Israeli economy , facilitating the trade of securities and the raising of capital and debt for companies and

1653-543: Is the primary provider of the Israeli military 's land-based equipment and unmanned aerial vehicles . It is an important company within the defense industry of Israel . Elbit Systems also has subsidiary factories around the world, and sells its products to various countries' militaries. At its subsidiary factories in the United Kingdom and the United States, the company has faced protests for its support of

1740-482: The Australian Army announced that Elbit's battlefield management system would be withdrawn from use with short notice, effective May 15, 2021. The Australian Broadcasting Corporation reported that this was due to concerns regarding the Elbit system's security. An Australian Financial Review columnist stated that the security problems comprised "a ' backdoor ' security vulnerability reportedly uncovered by

1827-662: The Australian Signals Directorate ". The Australian Defence Magazine reported that the system had failed two security milestones in 2020. Elbit denied that the system posed any security risks. Despite previous concerns, the Australian Army made a US$ 600 million contract with Elbit Systems in 2024. On July 1, 2003, Elbit acquired the Belgian company OIP Sensor Systems . In 2001, Elbit Systems Group completed its purchase of Aeroeletronica,

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1914-604: The Boycott, Divestment and Sanctions movement. The move followed several years of campaigning by NGOs, including an April 2018 petition launched by SumOfUs that received 140,000 signatures. Axa "quietly reduce[d]" its investments in Elbit and Israeli banks. Axa remains indirectly invested in Elbit and Israeli banks through a non-controlling interest in its former subsidiary Alliance Bernstein . Reporting in The Guardian showed attempted coordination between Elbit and

2001-851: The Embassy of Israel with the Home Office , Attorney General for England and Wales and Crown Prosecution Service regarding the prosecution of Palestine Action activists, dating back to April 2022. In 2024, CPS used powers under the Terrorism Act to detain activists without charges. Elbit Systems and its various subsidiaries provide various technologies for military command, control, communications, intelligence surveillance , and reconnaissance purposes. The company produces unmanned aircraft systems (UAS), electro-optics hardware, electronic warfare , signal intelligence (SIGINT) systems, and radio and communications products. Elbit Systems

2088-619: The German military , Elbit produces the E-LynX SDR radio system , night vision and thermal imaging devices, and Directional Infrared Countermeasure (DIRCM) for the A400M , radar warning receivers, and EW controllers for the CH-53GS /GE. On June 22, 2011, Elbit announced that it was awarded a three-year, US$ 15 million contract by Elettronica S.p.A. to participate in a program to supply

2175-614: The London Stock Exchange's Main Market and the Nasdaq Small Cap Market. Today, tens of dual-listed companies are traded on TASE (being listed in Tel Aviv and on overseas exchanges, in parallel). In 2005, market makers began operating on TASE. In 2007, the annual volume of securities and convertibles hit a new record of NIS 593.2 billion. Since 2008, against the backdrop of the global economic crisis ,

2262-525: The Merkava tank. The company also changed it name at the time from 'Elbit Computers Ltd.' to simply 'Elbit Ltd.' and Control Data Corporation sold its stake in the company. In 1996, Elbit was spun off into three independent companies: Elbit Medical Imaging , Elbit Systems, and Elbit. From 1999 to 2000, Elscint (another affiliate of Elron) and Elbit Medical Imaging sold their imaging activities to General Electric Medical Systems and Picker. Elbit Systems

2349-1024: The Ministry of Defence to deliver aircrew training for over an 18-year period. During the 2021 Israel–Palestine crisis , on May 19, 2021, four members of Palestine Action dressed in red boiler suits and climbed onto the roof of an Elbit Systems-owned drone factory in Meridian Business Park, Leicester . The occupation lasted 6 days, and a total of 10 arrests were made for conspiracy to commit criminal damage and aggravated trespass . Palestine Action group has staged similar occupations of Elbit Systems sites in Bristol , Oldham in collaboration with Extinction Rebellion , and Tamworth in collaboration with Animal Rebellion . Elbit sold its Ferranti subsidiary in 2022 for £9   million, approximately £6   million less than it had purchased it for fifteen years prior. Activists attributed

2436-538: The Philippine Army 's Light Tank and APC Acquisition Projects. Elbit Systems' activities in Romania, which started in 1996, are primarily carried out through its wholly owned Romanian subsidiaries, Elbit Systeme S.A., A-E Electronics S.A, Elmet International SRL and Simultec SRL, which have approximately 400 employees. On May 24, 2011, Elbit announced that its Elisra Electronic Systems Ltd. Romanian subsidiary

2523-467: The "hostile control" by the Israel Securities Authority and the regulator's interference in the executive management of the bourse as the main reasons for his resignation. Increase in trading volumes in 2020 The average daily trading volume on the equities market in 2020 amounted to approximately NIS 1.9 billion, some 35% higher than the average volume in the years 2015–2019 (that amounted to approximately NIS 1.4 billion per day). The major contributor to

2610-486: The 1960s, the scope of activity on TASE was limited and, in 1965, only 80 companies were listed on TASE. At the end of January 2021, 457 companies were listed on TASE with a total market cap of NIS 837 billion. Since the Israeli stock exchange indices reform at the beginning of 2017, there have been two equity universes. The Rimon universe is the senior of the two and comprises some 230 shares that are suitable to be used as underlying assets for derivatives. Such shares have

2697-805: The 1980s, an American firearms designer, Magnum Research , contracted IMI to re-design and manufacture a magnum caliber ( .44 Magnum , .357 Magnum and .50 AE ), resulting in the production of a semi-automatic pistol marketed as the Desert Eagle . In 2005, Israel Military Industries sold its Magen division (Small Arms Division) to Israeli privately owned holding company SK Group and renamed Israel Weapon Industries . IMI has dedicated factories manufacturing ammunition for firearms, artillery (both explosive rounds and rockets), tanks and air-to-ground (both stand-off and direct attack). Many of its products are standard NATO -compatible, but IMI also produces eastern bloc -caliber munitions. Besides small arms,

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2784-468: The CEO of Bank Leumi. In the office that served as the stock exchange, daily trading within the framework of the "Exchange Bureau of Securities" lasted for just one hour. Among those that conceived the original idea were bankers who had immigrated from Germany such as Max Kollenscher and his brother Leo. In 1968, TASE activity was regulated by law and the Israel Securities Authority, which supervises TASE activity,

2871-796: The ELT/572 DIRCM system for installation on various platforms of the Italian Air Force , including the C130J , C27J and AW101 . In March 2023, Elbit entered a strategic partnership with Itochu Aviation and Nippon Aircraft Supply. Itochu ended the partnership in February 2024 on advisement from Japan's foreign ministry following the ICJ provisional order in South Africa's genocide case against Israel . Elbit won its first contract in

2958-710: The ETF is subject to the Joint Investment Trusts Law. TASE collects fees from its members on every transaction executed thereon, calculated in thousands of a percent of the asset value in the case of the TACT system and in tens of agorot per MAOF option unit. Citizens interested in trading on TASE do so through the TASE members (the abovementioned banks and investment houses), which collect a considerably higher fee for their services from low-volume traders. The banks collect, using their default pricelist (0.6–0.8%),

3045-478: The European MSCI. Several financial products are traded on TASE: The fund does not guarantee a return linked to the movement in the index and the return for the investor can be higher or lower than the movement in the selected index, due to the fund's trading activity and the deviation (generally, small) in the composition of the fund's assets. Actually, an ETF is obligated to make its best effort to track

3132-697: The IMI also produces heavy weapons. IMI engages in many upgrade projects for military vehicles (tanks, APCs and other armoured fighting vehicles ). Upgrade components include firepower, survivability and maneuverability. IMI also produces a wide range of defensive products such as vehicle add-on armor packages, landmine clearing systems, and reconnaissance systems and bridges. It also produces aircraft countermeasures , such as flares , decoys and electronic countermeasures control systems, some of which IMI now offers also for land- and sea-based platforms. IMI produced, license-produced and exported cluster munition in

3219-537: The Index's weighting related to just 10 shares, a sharp change in the value of just one of these would cause the Index to react dramatically, and the Index was considered to be too concentrated. As part of the reform, new indices were created with the aim of raising investors' interest in TASE and increasing activity thereon. The new indices that were created are: the TA-BlueChip15Price, the TA-SME150 and

3306-781: The Instro Precision Factory in Sandwich, Kent , more than 100 people blocked the entrances. In Leicester , several activists climbed on the roof of the Howmet Fastening Systems factory, and a single protester chained themself to the entrance of the U-TacS factory. In 2024, Elbit announced the sale of the 'Elite KL' factory in Tamworth . In September 2024, the London headquarters of APCO Worldwide

3393-667: The Israel's Ministry of Defense , under the name 'Elbit Computers Ltd.', to develop computers and electronics for the Israeli military , its first product was a Minicomputer named 'Elbit 100'. The Minicomputer was successfully sold for civilian use, and in July 1970 the American company Control Data Corporation entered into an agreement to acquire Israel government's interest in 'Elbit Computers' for US$ 1 million. Control Data Corporation marketed and distributed Elbit Computers' around

3480-704: The Israeli Air Force and resulting in Palestinian casualties. Activists particularly cited Elbit's production of the Hermes drone, which was involved in the deaths of at least four Palestinian children. In February 2016, Affinity Flying Services Limited, a joint venture between Elbit and Kellog, Brown and Root , was awarded a £500   million contract to manage the UK Military Flight Training System (UKMFTS) program for

3567-487: The Israeli military in the ongoing Israeli–Palestinian conflict . The company has also been divested from by international investment firms due to its involvement in the conflict. In 2022, Elbit Systems reported having 18,407 employees, with most of them based in Israel. Elbit Systems' shares are traded on the Tel Aviv and NASDAQ stock exchanges. Elbit Systems was founded in 1966 by Elron Electronic Industries and

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3654-919: The Philippines for the supply of upgraded armored personnel carriers to the Philippine military in June 2014. The upgrade included 25-mm unmanned turrets, 12.7-mm remote controlled weapon stations (, and fire control systems for 90-mm turrets. In 2015, the Armed Forces of the Philippines received 114 M113 tracked APCs from the United States, with remote control weapons systems designed by Elbit. On October 23, 2020, Elbit won contracts to produce 18 Sabrah ASCOD Light Tanks and 10 Pandur II Tank Destroyers along with 1 ASCOD 2 Armored Command Vehicle, 1 ASCOD, and 2 Armored Recovery Vehicles, as well as another contract to supply 28 Iveco VBTP-MR Guarani APCs for

3741-505: The RL HYTT 24A and RL HYTT 24B. Elbit activities in the United Kingdom started in 1995, when it acquired 'Alvis UAV Engines Limited' from Alvis plc . A company that was founded in 1992 by engineer David Garside, to develop Wankel engines for use in UAVs. Garside has been developing Wankel engines since the late 1960s for BSA motorcycles and later Norton Motorcycle Company , and had

3828-589: The TA Rimon indices. The Israeli Stock Exchange has 23 members The central Bank of Israel In 1960, TASE moved to its own premises in the "Passage" at 113 Allenby Street in Tel Aviv and, in February 1983, TASE moved premises to 54 Ahad Ha'Am Street in Tel Aviv. In 2001, a Visitors Centers was opened on the historic trading floors of the TASE building. Educational visits took place in the Visitors Center, as well as conventions and events associated with

3915-595: The TASE and the Toronto Stock Exchange signed a memorandum of understanding, committing to the cultivation of stronger ties between the two exchanges. TASE only operates from Sunday through Thursday. TASE does not operate on Friday as it is a short workday. TASE also does not operate on Israeli national and religious holidays[2]. Every so often, the idea of changing the trading days is raised such that TASE would not operate on Sundays and would operate on Fridays. The reasons for proposing this change include

4002-491: The TA–25 index topped the Bloomberg Riskless Return Ranking list, outperforming 23 other developed-nation benchmark indexes when adjusting for volatility. CEO Ester Levanon resigned on 18 July 2013, effective 31 December 2013. A week later, on 25 July 2013, Chairman Saul Bronfeld resigned. According to Bloomberg, the executives' decisions follow a drop in trading volume and the bourse's failed bid to join MSCI Inc.'s Europe Index. Bronfeld, who served as chairman since 2006, cited

4089-461: The United Kingdom. The company was incorporated after Elbit and French company Thales Group won a tender (code-named "Watchkeeper program") to supply the British Army with unmanned aerial vehicles. The tender condition included a requirement to set up a local manufacturing facility for the program. Therefore, at the end of 2005, a joint venture company was established with the Thales Group. The joint venture, named UAV Tactical Systems Ltd (U-TacS),

4176-424: The West Bank, Syria, and Lebanon. In November 2018, Elbit completed its acquisition of IMI Systems . In 2022, Elbit reported having 18,407 total employees, with most of them based in Israel. It reported 3,675 US employees. A number of financial and investment organizations have divested their interests in Elbit. On September 3, 2009, the Government Pension Fund of Norway 's ethical council decided to sell

4263-424: The afternoon (and for derivatives – 17:35) local time ( GMT +2). Since March 8, 2020, trading on Sundays occasionally ends at between 15:49 and 15:50 local time ( GMT +2). Correspondingly, derivatives trading on such Sundays ends 35 minutes earlier, viz. at 16:00 on local time ( GMT +2). Calcalist reported in May 2024 that TASE is expected to begin operating also on fridays. This will allow TASE to be included in

4350-405: The barrier only serves military purposes and violates Palestinian human rights. Therefore we have looked at whether companies produce custom-designed products to the wall and thus has a particular involvement in repressive activities." In March 2010, a Swedish pension fund , not wanting to be associated with companies violating international treaties, boycotted Elbit Systems for its involvement in

4437-415: The capital market[ On July 24, 2014, TASE moved to its new home on the corner of Montefiore Street and Ahuzat Bayit Street, close to the Shalom Meir Tower. The TASE complex stands on a one and a half dunam plot that was acquired by it in 2007 at a cost of NIS 58 million and construction took five years. The 14 story building tops out at 60 meters and has 22,600 m of floor space. The nonstandard ratio between

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4524-415: The construction of Israel's West Bank barrier wall. In December 2018, HSBC divested from Elbit following Elbit's acquisition of IMI Systems . HSBC cited IMI's manufacturing of cluster bombs , which violated the bank's ethics policy of not investing in companies linked to the manufacturing or marketing of cluster munition. In 2019, Axa partially disinvested from Elbit Systems following pressure from

4611-410: The curtain on the trading floors era and completed the changeover to fully automated trading making use of a "continuous" trading system (TACT). In 2000, the Knesset passed Amendment No. 21 to the Securities Law, which makes it easier for companies whose shares are listed in the United States, to also list in Tel Aviv ("dual listing"). In July 2005, dual listing was expanded to include companies listed on

4698-408: The dividends (15.8 billion shekels) in 2022. The remaining dividends were paid to stakeholders. The average dividend yield of the listed companies in 2023 amounted to approximately 2.9%, compared to about 2.8% in the previous year. This was the highest yield since 2017, topping the yield of the record year of 2022. The market value in 2023 was approximately 9% lower than in 2022, while the total dividend

4785-435: The energy, oil and gas sectors, as well as in the banking and financial services sector. The Tel Aviv Stock Exchange reported that 206 listed companies distributed dividends totalling approximately 27.2 billion shekels in 2023. This was slightly less than the all-time high recorded in 2022 when 233 companies distributed about 28.6 billion shekels. Despite these uncertainties, the percentage of public holdings in traded stocks on

4872-399: The exchange has gradually increased over the recent years, reaching 63.3% by the end of 2023. This trend contributed significantly to an increase in the proportion of dividends received by the public. The year 2023 also marked a record in the total dividends distributed to public shareholders, which was about 62% of the distributed sum (16.8 billion shekels), as opposed to approximately 55% of

4959-452: The form of artillery projectiles, mortar bombs and rockets. IMI also provides military training to the Israeli citizens. IMI contracts its services to outside countries that need security and military training. The clients come to IMI in Israel for months of security and V.I.P. training. Israel Military Industries also has a partnership with the Metropolitan College of New York (MCNY) in New York City. Metropolitan College of New York offers

5046-399: The fund's stocks in Elbit due to the company's supply of surveillance systems for the Israeli West Bank barrier . At a press conference to announce the decision, Minister of Finance Kristin Halvorsen said "We do not wish to fund companies that so directly contribute to violations of international humanitarian law". The Norwegian Ambassador to Israel, Hans Jacob Biørn Lian , was called to

5133-497: The general public during 2020, compared to some 98,000 new accounts in 2019, a 44% increase. The pace at which non-bank members acquired new members – some 170% more than in 2019 – was particularly noticeable. Among the banks, the growth was 36% up on the previous year. In 2023, despite significant events such as war and legal reform, about 40% of the companies listed on the Tel Aviv Stock Exchange continued to distribute dividends to their shareholders. This included notable dividends in

5220-568: The government on the Israeli capital market. Trading on the TASE is conducted exclusively through its 23 members, which include major banks and investment houses that collect a fee for their services. The TASE was founded in 1953, with its precursor dating back to 1935. As of 2021, it lists 473 companies, 901 series of corporate bonds, 204 series of government bonds, 416 index-tracking products, and 1,231 mutual funds. The exchange's market capitalization for equities stands at US$ 216 billion, and for bonds at US$ 196 billion. The Tel Aviv Stock Exchange

5307-438: The idea of using the engines originally developed for motorcycles, for UAV's that required small but powerful source of power. Elbit, through its subsidiary 'Silver Arrow', was the company's only major customer when it was acquired. Since then the company has become a major gloal supplier of UAV Engines. Its subsidiary 'Elbit Systems UK Ltd.' was incorporated on September 24, 2004, as a holding company for Elbit's activities in

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5394-457: The index and, as such, the ETF should generate a similar, if not an identical, return to the movement in the index that it tracks. An ETF is a hybrid product, since it is listed on TASE like any other security listed on TASE and can be bought or sold on TASE. However, in addition to this, the investor has the possibility of buying or selling the ETF, in a similar fashion to open-end mutual funds (funds that are not listed on TASE). Like mutual funds,

5481-497: The infrastructure for launching new indices. At the beginning of 2017, the Knesset passed the second and third readings of a law for TASE's demutualization, which created the outline for turning it into a for-profit company. In April 2017, the Knesset passed an amendment of the Securities Law enabling changes to TASE's ownership structure; in September 2017 the District Court ratified the TASE demutualization arrangement, enabling changes to TASE's ownership structure, whereby TASE became

5568-419: The letters likely came from Israel Aerospace Industries , a competitor that lost the tender. The incident led to a review of the regulations governing overseas competition between Israeli defense companies. On December 6, 2017, the Citizen Lab reported that Ethiopian dissidents and journalists in the US, UK, and other countries were targeted by sophisticated commercial spyware, sold and operated by Cyberbit,

5655-425: The lowest volume since 2004. In 2016, TASE launched an analysis project for high-tech companies, within the framework of which the international research company, Frost and Sullivan, publishes informational and financial analyses regarding technology and biomed companies that are listed on TASE. In 2017, the TASE indices underwent a reform – "the diffusion reform", which had several objectives, including: improving

5742-507: The merger with El-Op, Federmann become the largest shareholder of the combined group. Following its merger, Elbit acquired Elisra , assets of Israel Military Industries ' Aircraft Systems Division, and Mikal Ltd. Elbit subsequently announced a cash tender offer for the 12.15% remainder of ITL Optronics Ltd held by the public. In 2006, Elbit acquired 20% of Chip PC Technologies , a developer and manufacturer of client solutions for server-based computing. In 2016, Elbit launched Everysight ,

5829-610: The night vision business of Harris Corporation for $ 350   million. The purchase was conditional on Harris Corporation's merger with L3 Technologies . In April 2019, Elbit Systems announced that it had partnered with DA-Group to produce and advertise its anti-jamming devices for global navigation satellite systems . Tel Aviv Stock Exchange 34°46′14″N 32°03′52″E  /  34.77059°N 32.06455°E  / 34.77059; 32.06455 The Tel Aviv Stock Exchange ( TASE ; Hebrew : הַבּוּרְסָה לִנְיָירוֹת עֵרֶךְ בְּתֵל אָבִיב ), colloquially known as The Bursa ,

5916-528: The number of stories and the building's height is due to the building having stories with high ceilings, such as the ground floor that rises to a height of 10 meters. In 1993 TASE had the third largest number of IPOs of all the world stock exchanges. In 2005, non-Israeli investment in TASE reached an all-time high of NIS 2 billion, while the TA-25 increased 34%. By the end of the year foreign investment banks UBS , Deutsche Bank , and HSBC had become members of TASE. In 2007, trading averaged $ 500 million

6003-413: The primary goals of the Embraer-majority joint venture was introduce the Elbit Systems Hermes 450 UAV into the service of the Brazilian Air Force . In March 2010, a $ 28-million contract for Hermes 450 UAVs was suspended by the Colombian government after media reports based on anonymous letters alleged that Colombian officials had been bribed. The Israeli Ministry of Defense investigated and found that

6090-426: The relatively low trading volume on Sundays, due mainly to the world's main stock exchanges not operating on Sundays. The TASE trading schedule on workdays is divided into five phases: "Pre-opening", "Opening auction", "Continuous trading", "Pre-closing", and "Closing auction" On the days when operations are conducted, trading is executed between the hours of 9:25 in the morning (derivatives – from 9:45) and 17:25 in

6177-457: The rise in trading volumes was global coronavirus pandemic, which reached Israel in February 2020, and led to a steep increase in trading volatility on the markets. Growth in the number of retail accounts with Israeli members of TASE in 2020 The Israeli capital market was stormed by the local retail public in 2020, which opened a significantly greater number of new accounts with TASE members than in 2019. Some 141,000 new accounts were opened by

6264-509: The sale of 71.7% of TASE's shares to five groups of foreign investors. On August 1, 2019, trade in TASE shares commenced on the Tel-Aviv Stock Exchange. The 2017 indices reform At the beginning of 2017, TASE carried out a comprehensive reform of the security indices listed on it and established new indices. Among the principal changes made by the reform was expanding the number of shares included in each index and lowering

6351-600: The sale to their years-long direct action campaign against Elbit's presence in Oldham. Elbit opened an advanced manufacturing and development facility in Bristol in July 2023. As of 2023, Elbit has multiple UK subsidiaries across sixteen sites in the country, with more than 680 employees. Beginning in October, when the 2023 Israel–Hamas war began, several Elbit factories were protested by activists with Palestine Action. At

6438-449: The stability of the TASE indices, broadening the sectoral diffusion within the various indices, setting more stringent threshold terms for the flagship indices and easing the threshold terms for the other indices, encouraging foreign investors to invest in the TASE indices, significantly increasing the free float rate for the shares included in the flagship indices, fully realizing the potential of small and medium company shares, and enlarging

6525-665: The tightening of the regulatory regime in which TASE operates (by the Israel Securities Authority , the Capital Market, Insurance and Savings Division at the Israeli Ministry of Finance, the Anti-Money Laundering Authority, etc.) and other factors, the number of trading participants and trading volumes have become less significant. In 2012, the annual volume of securities and convertibles amounted to just NIS 265.1 billion (a 54% decrease) –

6612-564: The time had 70 Israeli companies listed on the exchange, with a combined global market capitalization of over US$ 60 billion. In July 2008, the TASE entered into a memorandum of understanding with NYSE Euronext . At the time seven Israeli companies traded on the NYSE. In November 2008 the TASE and the Shanghai Stock Exchange signed a memorandum of understanding, with delegations to be sent to each other's markets to deepen understanding and promote trade. In February 2010,

6699-454: The time when securities were actual paper documents that were kept in a safe for the bank's customers. In the digital world, the justification for this fee is less clear and most of TASE's non-bank members do not collect this fee from their customers; the banks too are tending to waive this fee for some of their customers. TASE publishes a fees comparison table on its website, which allows the different trading fees to be swiftly compared. During

6786-542: The world. In 1978 Elbit had an initial public offering on the Tel Aviv Stock Exchange and continued to develop Minicomputers, including a model called ANAT, that was developed and sold in corporation with German company Nixdorf Computer . During the early 1980s the company started to refocus on defense electronics and developed systems and sub-components, among others, for the Lavi fighter jet and for

6873-424: Was US$ 432 million, $ 1,035M of bonds and exchange-traded notes (ETNs), $ 163M of T-bills, and 252,000 options and futures contracts. Total market capitalization at the end of 2009 was $ 189bn shares and convertibles, $ 174bn government and corporate bonds, and $ 23bn T-bills, a total of $ 386bn. On April 25, 2010, TASE's benchmark TA-25 index reached a record high of 1,239 points. For the decade ending 12 February 2012,

6960-549: Was awarded a contract valued at approximately €5 million to supply hundreds of units of its AN/PRC-684 Personal Locator Beacon to the French Ministry of Defense , equipping the French Air Force , Army , Navy and DGA ( Direction Générale de l'Armement ). Elbit Systems bought the radio communication division of the former Telefunken . In 2020, it became Elbit Systems Deutschland GmbH & Co. KG. For

7047-560: Was awarded, in cooperation with other Romanian companies and led by the Romanian Aeronautical Industry, a four-year contract valued at approximately $ 18.6 million to upgrade the Romanian Air Forces ' C-130 transport aircraft. On June 17, 2021, Elbit Systems announced the establishment of its Swedish subsidiary Elbit Systems Sweden. On January 13, 2022, Elbit Systems Sweden was awarded with

7134-792: Was based in Leicester and manufactured the Watchkeeper WK450 . A flight testing facility was also set up at ParcAberporth in Wales. In 2007, Elbit acquired Ferranti Technologies, based in Oldham, Greater Manchester , a company that was part of the historic Ferranti group and provided solutions in the aerospace and defence markets. Following the 2014 Gaza War , activists from Palestine Action and other groups began protesting outside Ferranti's factory, primarily against Elbit's production of various bombs and other military technology used by

7221-567: Was created as the defense electronics arm of the company. Elbit, which focused on communications activities, led the consortium that founded Partner Communications Company in 1999. In 2002, Elbit was merged into Elron. In 2000, Elbit Systems merged with El-Op (then controlled by current Elbit chairman, Michael Federmann ), creating the largest non-governmental defense electronics company in Israel. Elron sold its shares in Elbit Systems for approximately $ 197 million in 2004. Following

7308-569: Was established in 1953. Even prior to this, commencing in 1935, securities trading was carried out in the Land of Israel and, afterwards, in the State of Israel at the mandate-period Anglo-Palestine Bank (today, Bank Leumi ). The trade was conducted at the bank, in the office of Mordechai Pinchas Hasson , an Israeli banker who was one of the founders of the Exchange Bureau of Securities and

7395-445: Was established. In 1983, TASE was hit by the bank stock crisis , during which the share price of Israel's four largest banks collapsed – resulting in the state's nationalization of the banks and a third of the public's investment in them being wiped out. In the same year, TASE moved from its premises at 113 Allenby Street to a building at 54 Ahad Ha'Am Street, Tel Aviv. In 1993, trade in derivatives commenced. In 1999, TASE brought down

7482-541: Was only about 5% lower than the previous year. In February 2007 the TASE signed a formal memorandum of understanding with the London Stock Exchange intended to smooth the trading of securities listed on both exchanges. At the time, 50 Israeli companies were listed on the London Stock Exchange. A similar memorandum of understanding was signed with The Nasdaq Stock Market in November 2007. NASDAQ at

7569-625: Was targeted by Palestine Action over its representation of the UK interests of Elbit Systems. Elbit owns several companies in the United States through its American subsidiary, Elbit Systems of America (ESA). ESA operates under a special security agreement with a proxy board , allowing it to function independently and separately from its parent company. Elbit Systems of America (ESA) is incorporated in Delaware. In 2022, Elbit Systems reported having 3,675 US-based employees. In 2014, Elbit Systems won

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