Local trading in securities began in the 1930s, years before the formation of the State of Israel. Trade was carried out through the Exchange Bureau for Securities, founded by the Anglo-Palestine Bank (which became Bank Leumi Le-Israel) in 1935.
With the formation of the State of Israel in 1948, a pressing need arose to formalize trade in securities. In September 1953, a number of banks and brokerages joined forces and established the Tel Aviv Stock Exchange (TASE).
The TASE is a private company that is owned by its members, both banks and non-banking corporations, through which anybody may trade in the securities listed on the exchange. Legally, the exchange is regulated by the Securities Law of 1968 and falls under the direct supervision of the Israel Securities Authority (ISA).