Warsaw Stock Exchange
|Warsaw Stock Exchange|
|Key People||Ludwik Sobolewski, president|
|Products||Cash equities, bonds, index futures and options, stock options and currency futures|
The exchange has an initial public offering planned for November 2010. In late June, WSE agreed to buy a trading platform from NYSE Euronext, a strategic partnership that may lead to the Polish Treasury's sale of its minority stake in the exchange. For now, the Treasury, which at one time held a 98% stake, plans to hold on to 25% to 30% in the business after the IPO. 
Global Volume Ranking
The FIA list, published in early April 2010, reports that that WSE's total volume for 2009 rose to 13.8 million from 2008's figure of 12.5 million.
The first stock exchange in Warsaw was opened on May 12, 1817, focusing on bonds and other debt instruments, with equities not added until the second half of the 20th century. Before the Second World War seven stock exchanges operated in Poland.
The effort fell through in the final weeks of 2009 because of a lackluster response to the offering. Initially, the London Stock Exchange, Nasdaq OMX, NYSE Euronext and Deutsche Boerse all responded to the invitation, but London withdrew before the process was concluded and in the end only the Frankfurt exchange submitted a bid. Following the failed sale, the Treasury decided to organize an initial public offering for the Warsaw Stock Exchange.
Structure and Regulation
The main equities market lists 304 domestic companies and 23 foreign companies as of Dec. 31, 2007, and equity volume rose from Zl339bn in 2006 to Zl479bn in 2007. Futures volumes rose from 6.4 million contracts in 2006 to 9.5 million in 2007. The WSE is overseen by Poland's Financial Supervisory Commission, and trading hours are from 9 a.m. to 4:30 p.m.
Chief Executive Officer Ludwik Sobolewski.
The Warsaw Stock Exchange received a boost in early July 2010, announcing a new partnership with NYSE Euronext that will allow WSE to use the New York-based exchange operator's Universal Trading Platform to expand its cash and derivatives markets. The "strategic, long-term co-operation" with NYSE Euronext was a significant step towards the WSE's development as an international exchange, according to CEO Ludwik Sobolewski. The WSE's market capitalization, at US$152bn, is now almost double that of regional arch-rival the Vienna Stock Exchange. The WSE is also dominating the continent's initial public offering (IPO) market and in early 2010 brought to investors Europe's largest IPO in more than two years, thanks laregely to the booming Polish economy.
- Warsaw Bourse To Buy Trading Platform From NYSE Euronext -Tsy. Dow Jones.
- 2009 Annual Volume Survey. FIA magazine.
- Annual report. WSE.
- Four Groups Eyed For Warsaw Stock Exchange. Financial Times.
- NYSE Euronext Seeks Purchases, Eyes Warsaw, Athens Exchanges. Bloomberg.
- Annual report. WSE.
- Warsaw and Vienna vie for listings. Financial Times.