GPW
Group

Warsaw Stock Exchange is the largest stock exchange of financial instruments in the region of Central and Eastern Europe and rapidly growing exchange in Europe.

It operates markets in stocks and bonds of nearly one thousand domestic and international issuers. The GPW Group also offers trade in derivatives, structured instruments, and information services.

The Group operates a commodity market including one of the most liquid electricity markets in Europe. Many years of experience, operational excellence and a wide range of products make GPW one of the most recognised Polish financial institutions world-wide.

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GPW Group

Structure of the GPW Group
and affiliates

Subsidiaries

TGE
100%
BondSpot S.A.
96.98%
GPW Benchmark S.A.
100%
GPW Ventures ASI S.A.
100%
GPW Ventures Asset Management Sp. z o.o.
100%
GPW Ventures Asset Management Sp. z o.o. S.K.A.
100%
GPW TECH S.A.
100%

Affiliates

KDPW S.A.
33.33%
Centrum Giełdowe S.A.
24.79%
Polska Agencja Ratingowa S.A.
35.86%

GPW Group business lines

1 Certificate of Origin Register
2 Register of Guarantees of Origin
3 Krajowy Depozyt Papierów Wartościowych (the Central Securities Depository of Poland)

Listing
Listing includes admission and introduction to exchange trading and listing of securities on the markets organised and operated by the GPW Group.

Trading
Trading encompasses trade in financial instruments on the Main Market and on GPW regulated markets NewConnect and Catalyst, and on Treasury BondSpot Poland.
The following instruments are traded on GPW markets: shares and other equity instruments including structured products, warrants, investment certificates and ETF, derivatives namely index futures, single stock futures, currency futures, interest rate futures and options and finally debt instruments: corporate, municipal and mortgage bonds as well as Treasury bills and bonds.
Commodity exchange offers trading, among others, in electricity, natural gas, emission allowances, property rights in certificates of origin of electricity, certificates of origin of biogas and energy efficiency certificates and commodity derivatives settled in cash.
In March 2020, the Agricultural Market was launched, where agricultural products will be traded.

Post-trade services
Post-trade services for the financial market operated by GPW and BondSpot, including depository, clearing and settlement services, are offered by GPW’s associate, Krajowy Depozyt Papierów Wartościowych S.A. (KDPW), and its subsidiary KDPW_CCP S.A. The Warsaw Commodity Clearing House (IRGiT), which is a subsidiary of TGE, offers clearing of transactions of TGE members on its markets. IRGiT offers also settlement of transactions and it offers the service of reporting trades on the financial market to a trade repository.

TGE Registers
The Register of Certificates of Origin is a system of registration of certificates of origin confirming that energy was produced from the renewable energy sources and recording of property rights under such certificates.
TGE operates a Register of Guarantees of Origin and organises trade in guarantees of origin. The Register of Guarantees of Origin launched in September 2014 and registers energy from renewable sources and OTC trade in environmental benefits of its production. Unlike certificates of origin, guarantees do not involve property rights or a support scheme for renewable energy sources: they are issued for information only. There is no obligation to acquire guarantees but they can be used by entities to prove that a certain quantity of consumed energy was generated from renewable sources. TGE offers trade in guarantees of origin of energy since November 2014.

Information services
GPW collects, processes and sells market data from markets operated by the GPW Group.

GPW Group strategy

  • Our mission is to develop effective mechanisms of capital and commodity flows by providing exchange and clearing services which are competitive in terms of quality and price and address the needs and expectations of our clients: companies, investors, and brokers.
  • We support economic growth and build an investment culture. We develop an international capital hub.
  • We ensure highest standards and safety of trading based world-class technologies.
  • As a team of professionals, we conduct an integrated, effective business geared to growth.

Discover GPW’s strategy 2018-2022