Tel Aviv Stock Exchange Streamlines IPO Process with Nintex Automation
Technology Category
- Infrastructure as a Service (IaaS) - Private Cloud
- Infrastructure as a Service (IaaS) - Public Cloud
Applicable Industries
- Equipment & Machinery
- Paper & Pulp
Use Cases
- Inventory Management
- Time Sensitive Networking
Services
- System Integration
About The Customer
The Tel Aviv Stock Exchange is a major financial institution based in Israel. It handles over 1,000 applications for the registration of securities for trading through Initial Public Offerings (IPO), secondary offerings, rights offerings, and private placements annually. The exchange is committed to promoting and developing the products and services offered to its customers, using the most advanced technological tools, to develop accessible, economical, and innovative digital platforms. The exchange is also dedicated to promoting the ESG concept among the traded companies.
The Challenge
The Tel Aviv Stock Exchange was grappling with a manual and time-consuming process for registering securities, including Initial Public Offerings (IPOs), secondary offerings, rights offerings, and private placements. The process involved multiple internal and external stakeholders, making it complex and prone to human errors. The registration process for an IPO, in particular, involved several parties including lawyers, underwriters, the company, the stock exchange, and the stock exchange clearing house. The manual process was not only inefficient but also lacked transparency and security, posing operational risks. The exchange was handling over 1,000 applications for the registration of securities annually, making the need for a streamlined and automated process imperative.
The Solution
In partnership with Nintex partner K2 Israel, the Tel Aviv Stock Exchange implemented a digital system that automated the process of registering issues. This innovative system transformed the IPO process, enabling companies to act quickly and accurately, with improved control over communications between all involved parties. The digital system transitioned the exchange from a manual registration process to an automated digital process, simplifying the complex process and making it more accessible for users. The system provided users the ability to respond quickly to tasks related to the issuance process from anywhere, at any time. It also reduced operational risks and human errors by using digital control tools throughout the entire process. The system ensured that every party involved in the process was identified and received appropriate privileges, enhancing the confidentiality and security of the process.
Operational Impact
Quantitative Benefit
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