Philly Stock Exchange introduces Israeli index

Tuesday, January 02, 2007 |  by Staff Writer
The Philadelphia Stock Exchange (PHLX) has announced recently that it is launching a trade index of leading Israeli companies traded in the United States. The announcement came with a special opening bell ceremony held at the Philadelphia Stock Exchange earlier in December.

The index, called the “Hapoalim American Israeli Index” (HAI) is an equal dollar weighted index consisting of 15 of the leading Israeli companies that trade significant volumes of ordinary shares or American Depository Receipts (ADR) in the US

HAI contains companies that have significant market capitalization and are actively traded and include technology and bio-pharmaceutical companies which account for a major portion of international trade. These companies include pharmaceutical giant Teva, Internet security specialists Check Point, NICE Systems, ORMAT Technologies, ECI Telecom, Orbotech, Syneron, Given Imaging, RADvision, Alvarion, Audiocodes, Taro Pharmaceuticals, Radware, Aladdin, and Orckit.

The index was launched by Israeli Consul General in Philadelphia Uriel Palti and by representatives of Hapoalim Securities USA, a subsidiary of Bank Hapoalim, Israel’s largest bank, whose assets exceed $60 billion.

Consul Palti said during the launching ceremony, that there is no doubt that the index will provide investors a new and exciting way to take part in the ongoing success of the Israeli high-tech, bio-tech, and pharmaceutical industries. Palti thanked the Philadelphia Stock Exchange and the investors who gathered for the launching ceremony which was sponsored by the America-Israel Chamber of Commerce for their confidence and support of Israel and its economy.

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