Mrs. Orly Grinfeld spent the last 5 years as an Executive Vice President and Head of Clearing of Tel Aviv Stock Exchange. She also serves as the CEO of Tel Aviv Stock Exchange Clearing House (TASECH), Tel Aviv Stock Exchange Derivative Clearing House (MAOF) and Tel Aviv Stock Exchange Nominee Company (TASENC) – a fully owned subsidiaries that deals with registration, Clearing, Settlement, Custody and operation of securities and derivatives traded on Tel-Aviv Stock Exchange. Mrs. Grinfeld also holds 15 years of experience in business and financial risk management, serving as the Chief Risk Officer of Tel Aviv Stock Exchange, Chief Risk Officer of Israel Railways, and the Head of Business Risks Department of Ernst & Young Israel. She holds Master of Business Administration (MBA) from Ben-Gurion University and Bachelor of Administration (BA) from Tel Aviv University.