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Trading on Fridays needed to move Israel to MSCI Europe index

TEL AVIV, Dec 29 (Reuters) - Trading on Fridays is a necessary requirement to have Israel (Other OTC: IRLCF - news) included in the MSCI Europe index, the chief executive of the Tel Aviv Stock Exchange (TASE) said on Tuesday.

Currently TASE conducts trading from Sundays to Thursdays but is studying a move to a Monday to Friday week.

Yossi Beinart also told a news conference that the exchange is looking at a reform that will require new entrants to the main stock indices in Tel Aviv to be related to Israel. Foreign companies already included in the main indices such as Mylan (Tel Aviv: 27249935.TA - news) and Perrigo would likely remain in the indices.

The stock exchange is also planning a new investment platform for private growth companies with sales of about $10-$50 million that need new investment. For this purpose TASE is in talks with Nasdaq (NasdaqGS: NDAQ - news) for a joint venture.

(Reporting by Tova Cohen)