Tel Aviv exchange contracts with Chicago counterpart

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The CHX will establish a permanent office in Israel as part of the $4 million project. "Israel is one of the economic bright spots in the Middle East and Europe," said Forney.

The Tel Aviv Stock Exchange is the Middle East's most developed capital market with approximately 650 companies listed and a market capitalization of $40 billion. The exchange was established in 1953 as a successor to the Tel Aviv Securities House, which has traded securities since 1935. The Tel Aviv exchange is the only exchange in Israel.