Senior appointments within national stock exchanges are often the subject of large scale attention within the financial sector, especially if the venue concerned is held in high esteem.
Today, the Tel Aviv Stock Exchange (TASE) welcomes a new CEO, namely Yossi Beinart.
Mr. Beinart replaces Esther Lebanon, having been elected this evening by the stock exchange's board members.
Mr. Beinart is a long-standing industry professional, and senior figure within North America's specialist executing venues, currently holding the position of CEO of Chicago-based NADEX, one of two dedicated binary options exchanges which are regulated by the National Futures Association.
Yossi Beinart, CEO, Tel Aviv Stock Exchange
The election of Mr. Beinart as CEO of the Israeli stock exchange was decided among strong competition from other potential candidates, including Dan Hazel, former chairman of MCM, and Jacob Rosen, a former senior executive at one of Israel's major financial institutions, Bank Hapoalim, who retired from the selection process at the last minute.
Mr. Beinart is well positioned to preside over the bourse, as a highly respected senior industry professional of high ethical standards, who is a senior international industry figure and arrives with a wealth of experience, all of which are a recipe for success.
According to Israel's national financial news source Calcalist, Mr. Rosen withdrew his candidacy due to a possible conflict of interest with other business ventures.
Mr. Beinart will be charged with the role of rejuvenating the Tel Aviv Stock Exchange, which is a prestigious position, with the State of Israel's economy in extremely good condition subsequent to Bank of Israel governor Professor Stanley Fischer having implemented a series of extremely astute policies which kept Israel immune from global financial crises. The country until today remains an economic powerhouse with a very strong and efficient financial markets economy and remains one of the best places in the entire world in which to do business.
On the announcement of Mr. Beinart's appointment, Israel Securities Authority chairman Shmuel Hauser explained publicly that the stock market is "a major and significant venue and a major contributor to the success of the economy of Israel, and I believe that together with the staff of the Stock Exchange, its management and the board we can meet important tasks which rest upon our shoulders."
Temporary chairman of the Stock Exchange , Ron Malka , further explained that Mr. Beinart has "experience and skills which are very well matched to the major challenges facing the stock market at this time."
Mr. Hauser, heading Israel's financial markets regulatory authority, welcomed the appointment of Mr. Beinart as Tel Aviv Stock Exchange's CEO and wished him success in his position : "I have no doubt that Mr. Beinart has the ability to lead the Israeli stock exchange to new highs and position it as a generator of economic growth as one of the major pillars of industry in Israel. I'm sure Mr. Beinart can progress the Tel Aviv Stock Exchange and ensure that it remains innovative and sustainable, with much higher trading volumes than we ever knew."
In the current Forex Magnates Quarterly Industry Report for Q3 of 2013, Mr. Beinart, along with his contemporaries, feature in a full and detailed research which investigates the structure and business model required, as well as the regulatory precursors regarding the operating of exchange-based binary options businesses in the United States. To purchase the report, click here.
