2. Exchange Members
  3. Incentive Schemes

Incentive Schemes

  1. 1

    HVP - Equities

    HIGH VOLUME PROVIDER (HVP) SCHEME (HVP)

    The scheme is dedicated to legal entities who invest on the financial markets exclusively as proprietary traders.

    Summary

    • Trade all shares at discounted fees
    • Access to scheme available to all proprietary trading firms
      (as GPW Member or via existing Warsaw Stock Exchange Member)
    • Maker-Taker available
    Requirements
    • Submission of a completed application form and attachments
    • Returnable deposit of PLN 10,000
    • Minimum average daily turnover value of 2.5 million PLN
    • Average daily turnover value requirement is waived during the first 3 months of participation in the scheme
    • Flagging HVP orders in the way specified by the Warsaw Stock Exchange
    • At least 70% of firm’s  revenues generated by prop trading
    Transaction fees* under HVP scheme
     

    ADTV ≥ PLN 5m
    INSTRUMENTS
    Fixed fee per order (PLN)
    Fee per order value
    Max. fee per order (PLN)
    WIG20 shares
    0.05
    0.0087%
    260
    Other shares, ETFs,
    rights to shares,
    pre-emptive rights
    0.05
    0.0051%
    155
    MAKER-TAKER
    (Shares, rights to shares)
    -
    Maker = 0.002%
    Taker = 0.01%
    -

    PLN 2.5m ≤ ADTV < PLN 5m
    INSTRUMENTS
    Fixed fee per order (PLN)
    Fee per order value
    Max. fee per order (PLN)
    WIG20 shares
    0.05
    0.0115%
    340
    Other shares, ETFs,
    rights to shares,
    pre-emptive rights
    0.05
    0.0067%
    205


    Documents

      Registration Form of an Exchange Member

      Registration Form of a Client of an Exchange Member

      Registration Form of a Client and DEA Client of an Exchange Member


    More information:

    [*] Exchange Member participating in HVP scheme has three options with regards to pricing: regular HVP fee schedule, Maker/Taker HVP fee schedule or both of them.

     

    Fees for clearing of transactions for HVP scheme participants

    KDPW_CCP (Clearing House) has reduced clearing fees for trades executed on GPW by “High Volume Provider” scheme participants.

    Further information on the KDPW_CCP participation in the programme, and detailed information about the reduction of clearing fees is available on the KDPW_CCP website under the following link: http://www.kdpwccp.pl 

    Collapse
  2. 2

    HVP - Derivatives

    HIGH VOLUME PROVIDER (HVP) SCHEME

    The scheme is dedicated to legal entities which invest on the financial markets exclusively as proprietary traders.

    Summary

    • Trade in index futures, single-stock futures, currency futures, interest futures, index options on highly competitive rates
    • Access to scheme available to all proprietary trading firms
      (as GPW Member or via existing Warsaw Stock Exchange Member)
    • No transaction fees during the first 3 months of participation in the scheme
    • No fees on interest rate products during the entire scheme
    Requirements
    • Submission of a completed application form and attachments
    • Returnable deposit of PLN 10,000
    • Minimum average daily turnover volume of 75 contracts
    • Average daily turnover volume requirement is waived during the first 3 months of participation in the scheme
    • Flagging HVP orders in the way specified by the Warsaw Stock Exchange
    • At least 70% of firm’s  revenues generated by prop trading

    Transaction fees* under HVP scheme

    FUTURES
     
    75 lots ≤ ADTV < 150 lots
    ADTV ≥ 150 lots
    Underlying
    Fee per contract (PLN)
    Fee per contract (PLN)
    Index
    1.05
    0.80
    Single-Stock
    0.20
    0.15
    FX
    0.05
    0.04
    T-Bonds
    0.00
    0.00
    WIBOR
    0.00
    0.00

     

    OPTIONS
    Threshold
    Option
    underlying
    Fee per
    order value
    Min. fee per option
    (PLN)
    Max. fee per option
    (PLN)
    75 options ≤ ADTV < 150 options
    Index
    0.33%
    0.10
    0.70
    Single-stock
    0.03
    0.20
    ADTV ≥ 150 options
    Index
    0.25%
    0.10
    0.60
    Single-stock
    0.02
    0.12


    Documents

      Registration Form of an Exchange Member

      Registration Form of a Client of an Exchange Member


    More information:

    [*] Exchange Member participating in HVP scheme has three options with regards to pricing: regular HVP fee schedule, Maker/Taker HVP fee schedule or both of them.

     

    Fees for clearing of transactions for HVP scheme participants

    KDPW_CCP (Clearing House) has reduced clearing fees for trades executed on GPW by "High Volume Provider" scheme participants.

    Further information on the KDPW_CCP participation in the programme, and detailed information about the reduction of clearing fees is available on the KDPW_CCP website under the following link: http://www.kdpwccp.pl 

    See more
  3. 3

    HVF - Equities

    HIGH VOLUME FUNDS (HVF) SCHEME

    The scheme is dedicated to alternative investment funds classified under Directive 2011/61/EU which actively trade on GPW.

    Summary  

    • Trade in shares, subscription rights, rights to shares of all companies, and ETF units
    • Highly competitive fees
    • Access to the scheme via an existing Exchange Member

    Requirements  

    • Submission of a completed application form and appendices
    • Returnable deposit of PLN 10,000
    • Minimum average daily turnover value of 5 million PLN
    • Average daily turnover value requirement is waived during the first 3 months of participation in the scheme
    • Flagging HVF orders in the way specified by the Warsaw Stock Exchange


    Transaction fees for scheme participants:

    HVF - EQUITIES
     
    Fixed fee per order (PLN)
    Fee per order value
    Max. fee per order (PLN)
    WIG20 shares
    0.05
    0.0087%
    260
    Other shares, ETFs,
    rights to shares,
    pre-emptive rights
    0.05
    0.0051%
    155


    Documents

      Registration Form


    More information:

    See more
  4. 4

    HVF - Derivatives

    HIGH VOLUME FUNDS (HVF) SCHEME

    The scheme is dedicated to alternative investment funds classified under Directive 2011/61/EU which actively trade on GPW.

    Summary
    • Trade in index futures, single-stock futures, currency futures, interest futures, bond futures index options
    • Highly competitive fees
    • Access to the scheme via an existing Exchange Member
    Requirements
    • Submission of a completed application form and appendices
    • Returnable deposit of PLN 10,000
    • Minimum average daily turnover volume of 150 contracts
    • Average daily turnover volume requirement is waived during the first 3 months of participation in the scheme
    • Flagging HVF orders in the way specified by the Warsaw Stock Exchange

    Transaction fees for scheme participants:

    HVF - FUTURES
    Underlying
    Fee per contract (PLN)
    Index
    0.80
    Single-stock
    0.15
    FX
    0.04
    T-Bonds
    0.00
    WIBOR
    0.00

     

    HVF - OPTIONS
    Underlying
    Fee per contract (PLN)
    Min. fee per order (PLN)
    Max. fee per order (PLN)
    Index
    0.25%
    0.10
    0.60
    Single-stock
    0.25%
    0.02
    0.12


    Documents

      Registration Form


    More information:

    See more

Stock exchange members

The exchange member is an entity conducting the direct activity related to trading in financial instruments on the stock exchange.

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Market makers and issuer market makers

The aim of the market maker is to support in the most efficient way the liquidity of the financial instruments trading.

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Incentive Schemes

GPW has introduced two programs to support market liquidity: HVP, designed for prop trading firms investing their own capital, and HVF, aimed at investment funds characterized by high portfolio turnover.

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Information materials

In this section you can find a description of the technological services provided by the GPW and information about block transactions.

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Supporting partners

The supporting partners are: ISV (Independent Software Vendor)- provider of client software, as well as the external administrators and telecom operators.

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Brokers

Brokers are people designated by the exchange member to transfer on the stock exchange, modify and cancel broker's orders by applicable laws.

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