{"id":671,"date":"2025-01-14T21:26:00","date_gmt":"2025-01-15T01:26:00","guid":{"rendered":"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/"},"modified":"2026-05-15T11:52:05","modified_gmt":"2026-05-15T15:52:05","slug":"tase","status":"publish","type":"resource","link":"https:\/\/www.softwareag.com\/en\/resources\/adabas-natural\/tase\/","title":{"rendered":"Tel Aviv Stock Exchange: Modernizing a stock exchange"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-meet-the-customer\">Meet the Customer:<\/h2>\n\n\n\n<p><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">The&nbsp;<a href=\"https:\/\/www.tase.co.il\/en\" target=\"_blank\">Tel Aviv Stock Exchange<\/a>&nbsp;(TASE) provides investors with a reliable and comprehensive trading platform for a wide range of securities and financial instruments, including shares, bonds, Treasury bills, ETFs, options, and futures on equity indices and foreign currency exchange rates.<\/span><\/p>\n\n\n\n    <section\n        class=\"o-simple-cards o-simple-cards--cols-3 alignwide\"\n            >\n        <div class=\"o-simple-cards__inner\">\n            <div class=\"o-simple-cards__grid\">\n                                    <article\n                        class=\"o-simple-cards__card o-simple-cards__card--light\"\n                    >\n                        <div class=\"o-simple-cards__header\">\n                                                            <div\n                                    class=\"o-simple-cards__icon o-simple-cards__icon--light o-simple-cards__icon--color-purple\"\n                                    aria-hidden=\"true\"\n                                >\n                                    <span\n                                        class=\"o-simple-cards__icon-svg\"\n                                    >\n                                        <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" height=\"24px\" viewBox=\"0 -960 960 960\" width=\"24px\" fill=\"#000000\"><path d=\"M480-390Zm-132-53 55 37 77-39 77 39 53-35-40-79H386l-38 77ZM209-160h541L646-369l-83 55-83-41-83 41-85-56-103 210ZM80-80l234-475q10-20 29.5-32.5T386-600h54v-280h280l-40 80 40 80H520v120h50q23 0 42 12t30 32L880-80H80Z\"\/><\/svg>\n                                    <\/span>\n                                <\/div>\n                                                                                        <h3 class=\"o-simple-cards__title\">Challenges<\/h3>\n                                                    <\/div>\n\n                        <div class=\"o-simple-cards__content\">\n                                                            <div class=\"o-simple-cards__description\">\n                                    <ul>\n<li>Stay at the forefront of technology in order to reduce risk, improve capabilities, and achieve non-stop operations<\/li>\n<li>Retain knowledge and critical Natural application development of 20-30 years on back-end systems<\/li>\n<li>Implement DevOps to give developers more speed and agility<\/li>\n<\/ul>\n\n                                <\/div>\n                            \n                                                    <\/div>\n                    <\/article>\n                                    <article\n                        class=\"o-simple-cards__card o-simple-cards__card--light\"\n                    >\n                        <div class=\"o-simple-cards__header\">\n                                                            <div\n                                    class=\"o-simple-cards__icon o-simple-cards__icon--light o-simple-cards__icon--color-purple\"\n                                    aria-hidden=\"true\"\n                                >\n                                    <span\n                                        class=\"o-simple-cards__icon-svg\"\n                                    >\n                                        <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" height=\"24px\" viewBox=\"0 -960 960 960\" width=\"24px\" fill=\"#000000\"><path d=\"M200-120q-33 0-56.5-23.5T120-200v-560q0-33 23.5-56.5T200-840h560q8 0 15 1.5t14 4.5l-74 74H200v560h560v-266l80-80v346q0 33-23.5 56.5T760-120H200Zm261-160L235-506l56-56 170 170 367-367 57 55-424 424Z\"\/><\/svg>\n                                    <\/span>\n                                <\/div>\n                                                                                        <h3 class=\"o-simple-cards__title\">Outcomes<\/h3>\n                                                    <\/div>\n\n                        <div class=\"o-simple-cards__content\">\n                                                            <div class=\"o-simple-cards__description\">\n                                    <ul>\n<li>Lower costs and minimized risks<\/li>\n<li>Compliance with international standards, security, and regulations<\/li>\n<li>Ability to develop in other languages and models, improved version management<\/li>\n<li>Better developer experience<\/li>\n<\/ul>\n\n                                <\/div>\n                            \n                                                    <\/div>\n                    <\/article>\n                                    <article\n                        class=\"o-simple-cards__card o-simple-cards__card--light\"\n                    >\n                        <div class=\"o-simple-cards__header\">\n                                                            <div\n                                    class=\"o-simple-cards__icon o-simple-cards__icon--light o-simple-cards__icon--color-purple\"\n                                    aria-hidden=\"true\"\n                                >\n                                    <span\n                                        class=\"o-simple-cards__icon-svg\"\n                                    >\n                                        <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" height=\"24px\" viewBox=\"0 -960 960 960\" width=\"24px\" fill=\"#000000\"><path d=\"M423.5-103.5Q400-127 400-160h160q0 33-23.5 56.5T480-80q-33 0-56.5-23.5ZM320-200v-80h320v80H320Zm10-120q-69-41-109.5-110T180-580q0-125 87.5-212.5T480-880q125 0 212.5 87.5T780-580q0 81-40.5 150T630-320H330Zm24-80h252q45-32 69.5-79T700-580q0-92-64-156t-156-64q-92 0-156 64t-64 156q0 54 24.5 101t69.5 79Zm126 0Z\"\/><\/svg>\n                                    <\/span>\n                                <\/div>\n                                                                                        <h3 class=\"o-simple-cards__title\">Solutions<\/h3>\n                                                    <\/div>\n\n                        <div class=\"o-simple-cards__content\">\n                                                            <div class=\"o-simple-cards__description\">\n                                    <p>TASE&#8217;s clearing and settlement system is based on Adabas &amp; Natural, but was moved to Linux, where its trading system resides. It also moved to NaturalONE so that programmers could access the latest tools for agile development and deployment.<\/p>\n\n                                <\/div>\n                            \n                                                    <\/div>\n                    <\/article>\n                            <\/div>\n        <\/div>\n    <\/section>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-embracing-the-new-leveraging-the-old\">Embracing the new, leveraging the old<\/h3>\n\n\n\n<p>The Tel Aviv Stock Exchange (TASE), Israel&#8217;s only exchange, understands competition. It competes for market share with digital-first fintech firms and some of the world&#8217;s largest, most powerful exchanges. And as Israel is the second-largest hub for high-tech startups (next to Silicon Valley), TASE must also compete for IPOs. To do this, the exchange had to modernize its technology.<\/p>\n\n\n\n<p>TASE needed to offer digital services on par with those of new FinTech firms while adhering to local and global regulations. It also needed to provide services that compete with the larger first-tier exchanges like Nasdaq\u00ae, LSE, and NYSE.<\/p>\n\n\n\n<p>Its first project was to move its clearing and settlement system, based on Adabas &amp; Natural, to Linux, where its trading system resides. The Linux operating system is less expensive to operate and maintain and, as an open source platform, provides TASE with a wider selection of development and versioning tools.<\/p>\n\n\n\n<p>With the help of Software AG, TASE seamlessly rehosted more than 10,000 Natural programs and Adabas databases that processed more than 300,000 clearing and settlement transactions per day from its legacy environment to Linux. This move reduced costs and minimized risks while keeping the advantages of its tailor-made, mission-critical applications and back-end data.<\/p>\n\n\n\n    <section\n        class=\"o-testimonials-slider alignwide\"\n        data-testimonials-slider\n        aria-label=\"Testimonials\"\n    >\n        <div class=\"o-testimonials-slider__inner\">\n            \n            <div\n                id=\"testimonials-slider-1\"\n                class=\"o-testimonials-slider__viewport swiper\"\n                tabindex=\"0\"\n            >\n                <div class=\"o-testimonials-slider__track swiper-wrapper\" role=\"list\">\n                                            <article\n                            class=\"o-testimonials-slider__slide swiper-slide\"\n                            role=\"listitem\"\n                            aria-label=\"Testimonial 1 of 1\"\n                        >\n                            <blockquote class=\"o-testimonials-slider__quote\">\n                                <p>\n                                    <span class=\"quotation--opening\">\u201c<\/span>\n                                    We chose to keep Adabas &#038; Natural in our move to Linux because we wanted to keep the 20-30 years of knowledge that resided on the back-end system.\u00a0\n                                    <span class=\"quotation--closing\">\u201d<\/span>\n                                <\/p>\n                            <\/blockquote>\n\n                                                            <p class=\"o-testimonials-slider__attribution\">\n                                    <span\n                                        class=\"o-testimonials-slider__attribution-line o-testimonials-slider__attribution-line--person\"\n                                    >\n                                        <span\n                                            class=\"o-testimonials-slider__attribution-marker\"\n                                            aria-hidden=\"true\"\n                                        >\n                                            \u2014\n                                        <\/span>\n                                                                                <span>Hezi Shirazi, System Architecture Back Office<\/span>\n                                        <\/span>\n\n                                                                            <span\n                                            class=\"o-testimonials-slider__attribution-line o-testimonials-slider__attribution-line--company\"\n                                        >\n                                                                                            <span>Tel-Aviv Stock Exchange<\/span>\n                                                                                    <\/span>\n                                                                    <\/p>\n                            \n                                                            <p class=\"o-testimonials-slider__source-link-wrap\">\n                                    <a\n                                        class=\"o-testimonials-slider__source-link\"\n                                        href=\"https:\/\/www.softwareag.com\/en\/resources\/adabas-natural\/tase\/\"\n                                        aria-label=\"View quote source\"\n                                                                            >\n                                        <span class=\"material-symbols-outlined\" aria-hidden=\"true\">\n                                            link\n                                        <\/span>\n                                    <\/a>\n                                <\/p>\n                                                    <\/article>\n                                    <\/div>\n            <\/div>\n\n                    <\/div>\n    <\/section>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-devops-for-all\">DevOps for all<\/h3>\n\n\n\n<p>For the next phase, TASE wanted to bring all its programmers together under one DevOps-based architecture. Software AG\u2019s Eclipse-based development environment, NaturalONE, integrated easily with the DevOps environment already being used by TASE\u2019s Java\u00ae, C++, and Python\u00ae programmers.<\/p>\n\n\n\n<p>Now, the development of new applications and enhancements to existing ones is guided by the same DevOps standards and procedures, regardless of programming language or model.<\/p>\n\n\n\n<p>The move to&nbsp;NaturalONE and DevOps&nbsp;also ensured programmers had access to the latest state-of-the-art tools for agile development and deployment. For example, the ability to control the development environment with open-source version control systems such as Git is proving invaluable for meeting regulatory requirements.<\/p>\n\n\n\n<p>Regulatory requirements\u2014local and global\u2014meant that TASE needed versioning control for critical systems. TASE produces indexes in which calculations change continually, depending on new securities and payment events. Version control is paramount so that regulators can see what changes were made and when.<\/p>\n\n\n\n<p>Improved version management means less effort for programmers, greater control over changes, and quicker, more agile development.<\/p>\n\n\n\n<p>Prior to the introduction of NaturalONE, programmers lacked easy-to-use tools to merge and evaluate changes made by different programmers working on the same piece of code.<\/p>\n\n\n\n<p>Relying on manual scans to identify applicable changes was time-consuming and risky.<\/p>\n\n\n\n<p>With the introduction of NaturalONE, TASE is already seeing improved programmer productivity. Developers can now use the Git repository-based version control system to merge duplicate changes when several developers work on the same source code. This is easy to do by comparing the two versions on one screen and approving each required change.<\/p>\n\n\n\n<p>Version control with NaturalONE is very powerful\u2014since all versions of the source code are kept in the repository, changes can be moved forward or rolled back. The ability to reactivate older source code reduces risks and improves developer productivity.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-s-next\">What\u2019s next?<\/h3>\n\n\n\n<p>With all of its applications and data now on Linux, TASE\u2019s next step will be to implement a cloud architecture by using virtualization to separate the database server from the application server. This will ensure better control over each server by avoiding dependence on a single physical machine. \u201cWe want to ensure better business continuity and security and higher availability in an architecture that allows the application and database to run on different servers,\u201d said Hezi Shirazi of the System Architecture Back Office.<\/p>\n\n\n\n<p>TASE plans to use virtualization\u2014a technique that splits the Natural application into services that can run in Docker\u00ae containers\u2014to separate the data from the application and place each on a different server. With load balancing, TASE will be prepared to handle system outages with quicker, easier recovery\u2014ensuring business continuity if a server goes down.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-open-systems-open-minds\">Open systems, open minds<\/h3>\n\n\n\n<p>When TASE rehosted its Adabas &amp; Natural application to open-source Linux, its Natural developers were initially reluctant to start working in the new Eclipse-based NaturalONE environment now available to them. Wary about using modern tools, the TASE programmers needed convincing.<\/p>\n\n\n\n<p>Software AG provided on-site training and mentoring for NaturalONE. Within just a few days of demonstrating how NaturalONE could work in the integrated DevOps environment, the programmers\u2019 reluctance dissipated.<\/p>\n\n\n\n<p>\u201cAfter seeing all the bells and whistles of using NaturalONE with DevOps tools like Git and Jira\u00ae, the developers were astounded at how much easier it would be for them to develop better program code, faster and more securely,\u201d noted Ilan Hirschowitz, the Software AG Solutions Engineer who led on-site workshops.<\/p>\n\n\n\n<p>And, there was a bonus: The new development architecture brought all of TASE\u2019s development teams together. From clearing to derivatives, the various specialty teams and business stakeholders now know each other, work together, and understand the importance of what each team\u2014and the exchange\u2014is doing.<\/p>\n\n\n\n<p>TASE is now equipped to face the strongest competitors with agility and speed, thanks to a smart move to Linux and adoption of NaturalONE in an Eclipse-based DevOps environment.<br><\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.softwareag.com\/app\/uploads\/2025\/09\/css_naturalone-adabas_tase_en.pdf\">Download PDF<\/a><\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n    <section\n        class=\"o-related-posts alignwide\"\n        aria-label=\"Related Posts\"\n        style=\"--related-posts-columns: 3; margin-bottom: var(--wp--preset--spacing--m);\"\n    >\n        <div 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Accelerate development in a modern DevOps environment. Modernize your Adabas &amp; Natural applications to save costs and embrace hybrid cloud.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-dark-bg-primary is-style-dark-bg-primary--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.softwareag.com\/contact\/\">Speak with an expert<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-dark-bg-transparent is-style-dark-bg-transparent--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.softwareag.com\/free-trials\/\" target=\"_blank\" rel=\"noreferrer noopener\">Try for free<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons alignwide is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-no-border is-style-no-border--4\"><a class=\"wp-block-button__link has-white-color has-text-color has-link-color has-text-align-left wp-element-button\" href=\"https:\/\/discover.softwareag.com\/free-it-health-checks.html\">Ask for a free IT Health Check<\/a><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Adabas &#038; Natural and NaturalONE enables the Tel Aviv Stock Exchange (TASE) to compete for business with Israeli companies who have the option to work with the biggest exchanges in the world.<\/p>\n","protected":false},"featured_media":672,"template":"","product":[66],"resource-industry":[6],"resource-topic":[77,76,67],"resource-type":[12],"resource-subdirectory":[64],"class_list":["post-671","resource","type-resource","status-publish","has-post-thumbnail","hentry","product-adabas-natural","resource-industry-banking","resource-topic-developer","resource-topic-linux-cloud","resource-topic-modernization","resource-type-customer-story","resource-subdirectory-adabas-natural"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tel Aviv Stock Exchange: Modernizing a stock exchange | Software AG<\/title>\n<meta name=\"description\" content=\"Explore the benefits of modernizing a stock exchange, including improved speed, reduced risks, and enhanced trading capabilities.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.softwareag.com\/en\/resources\/adabas-natural\/tase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tel Aviv Stock Exchange: Modernizing a stock exchange\" \/>\n<meta property=\"og:description\" content=\"Explore the benefits of modernizing a stock exchange, including improved speed, reduced risks, and enhanced trading capabilities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.softwareag.com\/en\/resources\/adabas-natural\/tase\/\" \/>\n<meta property=\"og:site_name\" content=\"Software AG\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SoftwareAG\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-15T15:52:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.softwareag.com\/app\/uploads\/2025\/09\/an-css-tase.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Tel Aviv Stock Exchange: Modernizing a stock exchange\" \/>\n<meta name=\"twitter:site\" content=\"@softwareag\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/\",\"url\":\"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/\",\"name\":\"Tel Aviv Stock Exchange: Modernizing a stock exchange | Software AG\",\"isPartOf\":{\"@id\":\"https:\/\/www.softwareag.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.softwareag.com\/app\/uploads\/2025\/09\/an-css-tase.jpg\",\"datePublished\":\"2025-01-15T01:26:00+00:00\",\"dateModified\":\"2026-05-15T15:52:05+00:00\",\"description\":\"Explore the benefits of modernizing a stock exchange, including improved speed, reduced risks, and enhanced trading capabilities.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/#primaryimage\",\"url\":\"https:\/\/www.softwareag.com\/app\/uploads\/2025\/09\/an-css-tase.jpg\",\"contentUrl\":\"https:\/\/www.softwareag.com\/app\/uploads\/2025\/09\/an-css-tase.jpg\",\"width\":780,\"height\":440},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.softwareag.com\/resources\/adabas-natural\/tase\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.softwareag.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Resources\",\"item\":\"https:\/\/www.softwareag.com\/br\/resources\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Tel Aviv Stock Exchange: Modernizing a stock exchange\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.softwareag.com\/en\/#website\",\"url\":\"https:\/\/www.softwareag.com\/en\/\",\"name\":\"Software AG\",\"description\":\"Software AG&#039;s digital transformation solutions &amp; 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