News

Information for Exchange Members regarding the global coronavirus (COVID-19) situation

In connection with the global coronavirus (COVID-19) epidemic and in particular the first positive cases reported in Poland, this is to announce our assessment of Warsaw Stock Exchange’s (GPW) risks to business continuity. We are currently not aware of any factors which could increase the risk of interrupting services provided to GPW customers due to absenteeism of our staff.

As a part of on-going operational risk management measures, GPW continuously monitors potential scenarios and develops adequate solutions necessary to ensure business continuity of its services. This process considers a broader situational context rather than just the epidemiological impact of the coronavirus epidemic.

GPW’s business continuity function, in particular the replication of recovery resources necessary to execute critical processes across our locations (Secondary Office, Data Recovery Centre), mitigates the adverse effect of unpredictable events, such as being forced to temporarily suspend infrastructure operations at one of our primary locations.

Our technology and organisation infrastructure enable remote work for most positions, as well as secure relocation of work stations to employee homes or other locations of choice.

In addition, GPW has reviewed its business continuity plans in the event of a higher risk of adverse effects of the coronavirus epidemic. Our procedures take into account such scenarios and provide legal mechanisms ensuring business continuity of critical processes.

In order to minimise the risk of illness among employees, GPW has taken preventive measures in accordance with industry standards and regulatory requirements. Our business continuity strategy has been designed to maintain functionality of GPW’s services.

However, should a global crisis develop further and our Exchange Members be forced to temporarily halt operations on the exchange, GPW reserves the right to suspend all trading until further notice. Should such a situation arise, GPW will follow our internal procedures, as well as regulatory guidelines. For the above mentioned decision-making process to begin, GPW has adopted a threshold of 30% loss of market participation by Exchange Members, measured by their turnover share.

In this significant period, GPW’s priority is the safety and wellbeing of its employees and their families; however, we are continuously monitoring the developing situation and making best efforts to ensure business continuity of GPW services remains unaffected.

Best Regards,
Dariusz Kułakowski

Member of the Management Board
    Warsaw Stock Exchange