The WSE Group concluded no material agreements in 2014.
WSE is not a party to any litigation where the value of liabilities or receivables would represent at least 10% of its equity.
Research and Development
Development of new trading platforms and expansion of the portfolio of investment instruments available on the WSE markets are the key elements of the WSE Group’s strategy. Such activities will bring long-term advantages in the form of new groups of investors and new sources of revenues. The following initiatives important for the development of the markets operated by the WSE Group were completed in 2014:
- WSE started to publish new indices derived from WIG30: WIG30short i WIG30lev. WIG30short tracks the prices of stocks in reverse proportion to WIG30, and WIG30lev tracks the prices of stocks with a leverage;
- TBSP cash market launched new functionalities: MidPrice Order Book and Striker Price, adding to the range of available trade options for market makers,
- institutional investors were offered access to the TBSP cash market based on Request for Quote (RFQ);
- a stock investment module was added to the investment education platform GPWTr@der launched in 2013,
- in view of the planned launch of trade in financial derivatives (futures settled in cash) based on energy and gas prices, PolPX requested the Minister of Finance to approve operation of an exchange within the meaning of the Act on Trading in Financial Instruments. The financial market start date depends on the decision of the Minister of Finance;
- WSE changed the expiration cycle of WIG20 options; as a result, options which expire in the nearest calendar month are available in trading;
- WSE decided to change stock exchange indices: WIG20 remained the main base index, WIG30 will continue to be published, WIG50 and WIG250 will no longer be publish as of the beginning of 2015;
- TBSP launched the tri-party repo functionality combined with services of KDPW S.A. (acting as tri-party agent) of daily monitoring and management of repo collateral. The main objective of the functionality is to support the market in repo transactions with longer maturities;
- WSE revised the rules of classification of shares in the Alert List and decided to maintain the penny stock threshold at PLN 0.50;
- WSE signed the first commodity market (PolPX) data vendor agreements,
- PolPX decided to select the supplier of its new trading system. X-Stream provided by Nasdaq OMX will be implemented by PolPX in 2016. The new technology will provide PolPX with improved functionalities, support growing volumes of trade, and allow PolPX to add new commodity instruments and derivatives in the future.