Platinum Partner: Warsaw Stock Exchange

The Warsaw Stock Exchange is one of the most advanced markets in Central Europe in terms of capitalisation, trading, number and types of listed instruments, as well as organizational and technical solutions used. Trading on the Warsaw Stock Exchange is order-driven and fully electronic. The Warsaw Stock Exchange offers both cash and derivative products under one roof. Current WSE cash products’ list includes: shares, bonds, subscription rights, allotment certificates, investment certificates. WSE derivatives market is one of the most promising in Europe, with futures, options, index participation units as well as structured products based on foreign indices, share baskets and commodities (crude oil, gold), which are already available for trading.

Today the Warsaw Stock Exchange conducts trading in financial instruments on two markets. On the WSE Main List (regulated market) 368 companies are listed, including foreign ones, with the total market capitalization around PLN 577 bn (EUR 167bn). In 2007 The trading value exceeded PLN 482 billion, with the average daily turnover around PLN 1.9bn. A record 81 companies debuted on the WSE Main List in 2007. The total value of their IPOs exceeded PLN 13bn (EUR 3.6bn). This year brought a wave of falls in indices on financial markets all over the world and the Warsaw Stock Exchange has been suffering the same. However, another 26 companies debuted in 2008 (as of October 10). NewConnect (an alternative trading system), which was launched on August 30, 2007, was designed for startups and developing companies, intended as the first step to a flotation on the regulated market. New trading platform gives companies the opportunity to use their potential, and in the result growth development and “promotion” to the WSE Main List. During first 13 months of operations of NewConnect, 72 companies raising in total PLN over 300m. (Eur 90m.) from the offers, have used this opportunity.

The WSE may already be considered as an international market. The largest companies in the CEE region decided to list on the WSE. Foreign investors account for approximately one third of the Exchange’s equity turnover and constitute an important shareholder group in WSE-listed companies. The presence of 19 remote members (these include world famous investment companies operating globally) on the Warsaw Stock Exchange strengthens additionally its international status. The Warsaw Stock Exchange has a good reputation among not only Polish but also foreign investors, financial institutions and issuers. The growth of the WSE is facilitated by its modern infrastructure, typical of a mature market, as well as a legal infrastructure in full compliance with EU standards.

The WSE is a dynamic market in terms of its flexible offer for investors and issuers. The NewConnect market represents the WSE’s offer for investors with a bigger risk appetite looking for potentially higher returns on investments. Companies and investors received a new opportunity to exchange shares through private placements. This possibility has been enthusiastically adopted by NewConnect issuers, as a majority of them opted for private placements.

To create a new quality in communication on the capital market, the WSE provides the best possible access to market information, by introducing and upgrading its market data platforms such as: www.wse.com.pl, www.newconnect.pl, www.WSEInfoSpace.eu and www.wseinternational.eu.

The internationalization of the Polish stock exchange market is the key goal of the Stock Exchange in Warsaw, included in the strategic plan for the years to come. Last year the WSE has signed a number of memorandum of cooperation with foreign exchanges and became a shareholder in the Romanian Sibex currency and derivatives exchange. This year the WSE has acquired of a stake in Ukrainian exchange INNEX. International conferences organised by the WSE, such as CEE Market Forum, CEE Business Forum and CEE Derivatives Forum are the initiatives undertaken by the WSE to create an information and experience interchange platforms for investors and companies of Central and Eastern Europe. The Warsaw Stock Exchange intends to become the leading financial centre in the region of Central and Eastern Europe and an entity, which will actively participate in the creation of its future shape. Such aspirations are justified by the present position of the WSE and by the potential of financial and business organizations, which operate around the Polish stock exchange. This intention will be possible to pursue only through equal and respectful relations with foreign partners. Only then will it be beneficial for capital markets in the CEE region, including for the Warsaw Stock Exchange.