Warsaw Stock Exchange

Information about Warsaw Stock Exchange

Giełda Papierów Wartościowych w Warszawie
Joint stock company
FoundedApril 12 1991
HeadquartersWarsaw, Poland
Key peopleLudwik Sobolewski, President, Management Board
Websitewww.gpw.pl
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Exchange Center, home of the WSE since 2000
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Exchange Center entrance on Książęca Street
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Center of Banking and Finance, home of the WSE from 1991 to 2000. It was once the seat of the Polish United Workers' Party.
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Exchange Building, home of the exchange from 1876 until World War II. It was completely destroyed in the war.
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Bank of Poland and Exchange Building, home of the exchange from 1828 to 1876
The Warsaw Stock Exchange (WSE), Polish: Giełda Papierów Wartościowych w Warszawie, is a stock exchange located in Warsaw, Poland. It is the largest stock exchange in the region, with a capitalization of $330 billion.

The WSE is a member of the World Federation of Exchanges and the Federation of European Securities Exchanges.

Structure and operations

The WSE is a joint stock company founded by the State Treasury. It is divided into about 60,000 registered shares of 700 złotys each. The Treasury holds the largest stake (almost 99%), with the rest divided among several dozen entities, including banks and brokerage houses.

The legal framework for exchange operations is provided by three acts from July 29, 2005:
  • Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies
  • Act on Trading in Financial Instruments
  • Act on Capital Market Supervision
Additionally, the WSE is governed by the Code of Commercial Companies of 2000, the Statutes of the Warsaw Stock Exchange, the Rules of the Warsaw Stock Exchange, and the Rules of the Stock Exchange Court.

The following instruments are traded on the WSE: shares, bonds, subscription rights, allotments, and derivatives such as futures, options, and index participation units.

Since its inception, the WSE has engaged in electronic trading. The WARSET trading platform has been in use since November 2000. An additional market called NewConnect was introduced on August 30, 2007.

Trading takes place Monday through Friday, from 9:00 AM to 4:35 PM.

History

The first exchange in Warsaw, the Warsaw Mercantile Exchange, was established on May 12, 1817. The first day of trading was on May 16. Initially, trading sessions were held between 1 p.m. and 2 p.m. In the 19th century mainly bills and bonds were traded. Share trading on a broader scale developed in the second half of that century. Between 1918 and 1939, the WSE was by far the largest of several bourses in different Polish cities (Katowice, Kraków, Lwów, Łódź, Poznań and Wilno), and accounted for 90% of the volume traded on the Polish market. When the Second World War broke out, the stock exchange was closed.

It was only after the fall of the communist regime in 1989, that the Warsaw Stock Exchange could be reestablished. Much needed experience and financial aid was provided by France (especially the Société des Bourses Françaises). The WSE began activity in its present form on April 16, 1991. On the first trading day only five stocks were listed (Tonsil, Próchnik, Krosno, Kable, and Exbud). Seven brokerages took part in the trading, and there were 112 buy and sell orders, with a turnover of only 1,990 złotys ($2,000).

In the years 1991-2000, the stock exchange was located in the building which during the previous, and then recent, communist years had been the seat of the Central Committee of the ruling Polish Communist Party. This can be considered an interesting reflection on the rapid transition of Poland from a communist to a market economy.

Since then the WSE has been developing and growing rapidly and is now perceived as well established on the European market.

Statistics

  • Number of companies listed: 321 (August 2007)
  • Market value of listed shares (August 2007): 301.86 bln USD, Polish companies: 200 bln USD
  • Volume of stocks traded in 2006: 115 bln USD

Stock market indices

There are fourteen indices on the WSE.
  • WIG
  • WIG20
  • mWIG40
  • sWIG80
  • TECHWIG
  • WIG-BANKI
  • WIG-BUDOW
  • WIG-DEWEL
  • WIG-INFO
  • WIG-MEDIA
  • WIG-PALIWA
  • WIG-PL
  • WIG-SPOZYW
  • WIG-TELKOM

See also

External links

A joint stock company (JSC) is a type of business partnership in which the capital is formed by the individual contributions of a group of shareholders. Certificates of ownership or stocks are issued by the company in return for each contribution, and the shareholders are free to
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April 12 is the 1st day of the year (2nd in leap years) in the Gregorian calendar. There are 0 days remaining.

Events

  • 467 - Anthemius is elevated to Emperor of the Western Roman Empire

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19th century - 20th century - 21st century
1960s  1970s  1980s  - 1990s -  2000s  2010s  2020s
1988 1989 1990 - 1991 - 1992 1993 1994

Year 1991 (MCMXCI
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Warsaw
Warszawa

Flag
Coat of arms
Motto: Contemnit procellas (It defies the storms)
Semper invicta (Always invincible)
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Motto
none1
Anthem
Mazurek Dąbrowskiego   (Polish)
Dąbrowski's Mazurek
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A website (alternatively, Web site or web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN.
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Polish}}} 
Writing system: Latin (Polish variant) 
Official status
Official language of:  European Union
 European Union
Regulated by: Polish Language Council
Language codes
ISO 639-1: pl
ISO 639-2: pol
ISO 639-3:
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A stock exchange, share market or bourse is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities.
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Warsaw
Warszawa

Flag
Coat of arms
Motto: Contemnit procellas (It defies the storms)
Semper invicta (Always invincible)
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Motto
none1
Anthem
Mazurek Dąbrowskiego   (Polish)
Dąbrowski's Mazurek
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The World Federation of Exchanges (WFE), formerly FIBV - Federation Internationale des Bourses de Valeurs (International Federation of Stock Exchanges), is an international organization for securities and derivative markets such as stock exchanges.
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Financial instruments is a term used to denote any form of funding medium - mostly those used for borrowing in money markets, e. g. bills of exchange, bonds, etc. (Ref: [1] )

Categorization


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In financial markets, a share is a unit of account for various financial instruments including stocks, mutual funds, limited partnerships, and REIT's. In British English, use of the word shares
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bond is a debt security, in which the authorized issuer owes the holders a debt and is obliged to repay the principal and interest (the coupon) at a later date, termed maturity.
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Subscription period

Subscription period is the period of time during which investors can submit purchase orders for a new issue.

When a new security is to be issued, investors typically have two weeks to submit their subscription orders.
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Derivatives are financial instruments whose value is derived from the value of something else. They generally take the form of contracts under which the parties agree to payments between them based upon the value of an underlying asset or other data at a particular point in time.
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In finance, a futures contract is a standardized contract, traded on a futures exchange, to buy or sell a certain underlying instrument at a certain date in the future, at a specified price. The future date is called the delivery date or final settlement date.
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Options are financial instruments that convey the right, but not the obligation, to engage in a future transaction on some underlying security. For example, buying a call option provides the right to buy a specified quantity of a security at a set strike price at some time on or
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Katowice

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Seal

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Kraków
Cracow
View of the Market Square

Flag
Coat of arms

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L’viv
Льві?
View of the historic Old Town from the High Castle.

Coat of arms
Motto: "Semper fidelis"
Location
Map of Ukraine with Lviv.
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Vilnius (/span>]] ?· i ; also known by alternative names) is the largest city and the capital of Lithuania, with a population of 553,904 (850,700 together with Vilnius County) as of December 2005.
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Allied powers:
 Soviet Union
 United States
 United Kingdom
 China
 France
...et al. Axis powers:
 Germany
 Japan
 Italy
...et al.
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April 16 is the 1st day of the year (2nd in leap years) in the Gregorian calendar. There are 0 days remaining.

Events


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19th century - 20th century - 21st century
1960s  1970s  1980s  - 1990s -  2000s  2010s  2020s
1988 1989 1990 - 1991 - 1992 1993 1994

Year 1991 (MCMXCI
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Central Committee most commonly refers to the central executive unit of a Leninist (commonly also Trotskyist) or Communist party, whether ruling or non-ruling. In a Communist party, the Central Committee is made up of delegates elected at a Party Congress.
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The Polish United Workers' Party (PUWP, in Polish Polska Zjednoczona Partia Robotnicza - PZPR) was a socialist party governing in the People's Republic of Poland from 1948 to 1989. It was based on the program of Marxism and Leninism.
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Economic systems

Ideologies and Theories
Primitive communism
Capitalist economy
Corporate economy
Fascist economy
Laissez-faire
Mercantilism
Natural economy
Social market economy
Socialist economy
Communist economy


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Wig may refer to:
  • For a wig as in false hair, see Wig (hair);
  • For an article on stock index see WIG;
  • Wing In Ground, a type of Ground effect;
  • For WiG, Women in Green, see Women for Israel's Tomorrow.''
  • an Old English word for "holy", see weoh.

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Twenty Largest Stock Exchanges by Market Capitalization as of July 12, 2007 (in trillions of US dollars)
  1. NYSE Euronext - $20.692
  2. Tokyo Stock Exchange - $4.679
  3. NASDAQ - $4.163
  4. London Stock Exchange - $4.023
  5. Hong Kong Stock Exchange - $2.

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