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Strategic Initiatives

The GPW Management Board, acting with the approval of the GPW Supervisory Board, has presented strategic initiatives as a roadmap to the improvement of GPW Group’s international position. The Warsaw Stock Exchange will focus on the development of new platforms matching buyers and sellers on the trading floor in Warsaw. GPW will support Poland’s economy more than ever before, in catching up with the most advanced economies of the world. These are the main objectives of the strategy #GPW2022 updated by the GPW Management Board. The document continues the existing before strategic framework.

Strategic Initiatives #GPW2022:

  • Primary Market Development (GPW Growth) – a comprehensive educational programme supporting SMEs. The project’s focus is the implementation and development of GPW Growth, a programme supporting company value creation through expansion based on external sources of financing, in particular the capital market.
  • Securities Lending and Borrowing System – improved liquidity on the GPW Group’s cash and derivatives markets through promotion and expansion of securities lending and borrowing.
  • Derivatives Development – new futures tailored to clients’ needs, promotion of market maker orders supporting liquidity of the order book, extension of promotion and educational programmes for all groups of investors.
  • GPW Private Market – a platform matching companies and investors on the private market. Expansion of the GPW Group’s offer for companies at all stages of growth.
  • GPW Ventures – a special purpose entity to invest in venture capital funds (VC) as a passive investor. Financing instrument supporting growth of Polish venture capital and, in the longer term, IPOs in Poland. Improvement of GPW Group’s innovative edge with investments in technology start-ups.
  • BondSpot Development – a full range of products and services on the debt market (treasury bonds, corporate bonds), money market and market in derivatives based on bonds and interest rates on a single trading venue.
  • Warsaw Repo Rate, Bondspot Benchmark – two new benchmarks on the bond market and the money market, transparent and stable benchmark calculation methods based on transaction data, improved transparency of transactions on the financial market, compliance with Benchmark Regulation No 2016/1011 of 8 June 2016 ("BMR").
  • Polish Rating Agency (previously: Instytut Analiz i Ratingu) promotion of reliable ratings on the local fixed-income market, generating tangible benefits for the Polish economy in the mid-term;
  • GPW Data – business reporting standards ensuring automatic data processing and lower reporting costs for companies, use of big data technologies in collecting data relevant to capital market investments and generating reports, implementation of artificial intelligence (AI) tools supporting local and foreign investors.
  • GPW TCA TOOL – Transaction Cost Analysis (TCA). The project will develop a set of innovative tools to identify and analyse transaction costs as a source of information for investors and brokers on data aggregated at the micro market level.
  • Organised Trading Facility (OTF) – transformation of TGE’s forward commodity market into an organised trading facility (OTF) under MiFID II. The Project will allow TGE to further develop forward instruments with physical delivery of electricity and gas and financial instruments.
  • Infrastructure Services Auction Platform – auction platform of infrastructure services for the electricity and gas markets; (at the moment suspended).
  • OTC Clearing – clearing of electricity and gas forwards on organised trading facilities and in OTC trading.
  • Waste and Secondary Raw Materials Trading Platform – electronic trading platform for waste and its recycling/disposal products. The waste platform will implement the EU model of circular economy.
  • Food Platform / Agricultural Market Project - creating a base market with physical delivery of goods, and in the longer term launching of the futures market is being considered. The organized electronic trading platform will provide new trading opportunities for many groups of agricultural market participants. Work on launching the agricultural market began in January 2019.

In 2019:

  • GPW Tech - a project which will develop a dedicated technology company specialising in IT solutions for the capital market. As a stand-alone company of the GPW Group, GPW Tech will focus on the development of technological business in GPW’s sector based on proprietary solutions.
  • Trading Platform - on 3 July 2019, the Exchange Management Board has decided to launch a project aimed at research and development work on the development of a proprietary trading system  with co-financing from grants of the National Centre for Research and Development (NCBR). At this stage, the total amount of capital expenditure connected with the implementation of the project is estimated at PLN 90,000. The Exchange Management Board has decided to conclude an agreement with the National Centre for Research and Development concerning the co-financing of the project “Research and development work for the development and implementation of a state-of-the-art integrated Trading Platform of ground-breaking performance and capacity parameters and innovative communication protocols and trading algorithms” in the amount of PLN 30,277,090.54,000.

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