The Tel Aviv Stock Exchange (TASE) aims to attract more global investment by making all company reports available in English.

AI-based tech, developed in Israel, will enable TASE to provide immediate translations of all corporate disclosures, filings and statements from Hebrew in what it describes as a groundbreaking initiative.

Foreign investors are currently hampered by the fact that only around a fifth of the 487 TASE-listed public companies produce their reports in English.

News of the initiative, to be launched later this year, comes at a time when financial markets are in turmoil. Global recession remains a threat and concerns are mounting over the impact of trade tariffs recently introduced by the United States.

TASE recognized the need to overcome the language barrier some time ago. In June 2020 it launched an English version of its Maya corporate website offering limited information for investors in English. It now aims to provide a far more comprehensive service to non-Hebrew speakers, using a system designed by Tel Aviv-based fintech company TipRanks.

TASE will become one of the first stock exchanges in the world to implement the full AI-powered translation of all public company reports. It will start with companies on the TA-125 Index — the 125 most highly capitalized companies listed on the exchange – then roll it out to all the rest. It will focus on text documents first, then expand to include reports containing tables, charts and full financial statements.

The move is designed to further “increase the global exposure of Israel’s public companies, thereby encouraging global investments in the Israeli capital market,” said TASE in a joint statement with the national regulator, Israel Securities Authority (ISA).

“Moreover, the move aligns seamlessly with TASE’s strategy of strengthening the global standing of the Israeli capital market. It breaks the language barrier, providing international investors direct access to information on Israel’s public companies, in English.

“This marks the second phase of the joint initiative introduced by ISA and TASE to strengthen the Israeli capital market, encompassing various moves, such as promoting market-making for the TASE-listed companies and providing better access to information for investments in Israel capital market.”

TASE research showed that only 100 out of the 487 companies it lists currently publish their reports in English, and only 33 of the 108 TA-125 Index companies provide English reports (both figures exclude companies also listed on another exchange).

TASE said English documentation would complement the planned transition to a Monday-through Friday trading week – rather than Israel’s Sunday through Thursday – starting early next year.