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.

At the end of 2007 a total of 351 companies, including 23 foreign ones, were listed on the WSE Main List. WSE market capitalisation increased significantly, exceeding PLN 1 trillion for the first time at end of the year (EUR 300bn). The capitalisation of domestic companies amounted to PLN 510bn (EUR 142bn) whereas foreign firms accounted for PLN 570bn (EUR 158bn). A record 81 companies debuted on the WSE Main List in 2007, including 12 foreign companies. The total value of their IPOs exceeded PLN 13bn (EUR 3.6bn).

The WSE may already be considered as an international market. The largest companies in the CEE region decided to list on the WSE (Immoeast IPO, with offering value over PLN 10.7bn (EUR 3bn), was the largest one in the WSE history). Foreign investors account for approximately one third of the Exchange’s equity turnover and constitute an important shareholder group in WSE-listed companies. The institution of 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. On August 30, 2007 the NewConnect - a new market organised and operated by the Warsaw Stock Exchange was launched as a platform for financing the development of young, attractive companies with a large growth potential. The market represents the WSE’s offer for investors with a bigger risk appetite looking for potentially higher returns on investments. At the beginning 5 stocks have been offered to investors, while already 24 companies were listed on NewConnect at the end of the year. The total value of their IPOs exceeded PLN 150m (EUR 42m). 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. 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.