News

GPW partners with M-DAQ to pilot multi-currency quoting for Polish securities

PRESS RELEASE

• Warsaw Stock Exchange partners with an Asian fintech company M-DAQ
• The first milestone of a multi-phase collaboration will be co-development of a proof-of-concept allowing investors to view real-time prices of stocks from WIG20 and mWIG40 indices in 10 different currencies
• The next step will be assessing the feasibility of  launching a full-fledged multi-currency trading solution enabling investors to view, track and trade shares on GPW in different currencies within a single liquidity pool

Warsaw Stock Exchange (GPW) has partnered with M-DAQ, Asia’s leading Fintech start-up, to co-develop a proof-of-concept that allows investors to view real-time prices of stocks from WIG20 and mWIG40 indices in 10 different currencies. With this innovative solution, GPW seeks to help brokerage firms and international investors manage their Polish portfolios more effectively, while expanding the investor base for companies listed on GPW.

Currently, foreign exchange rates are determined once a trade is executed. A multi-currency trading solution will allow investors to view and track securities in multiple currencies while considering risks caused by foreign exchange movements. This proof-of-concept will mark the first milestone of a multi-phase collaboration between GPW and M-DAQ to assess the feasibility of  launching a full-fledged multi-currency trading solution that will allow investors to view, track and trade Polish shares in different currencies within a single liquidity pool.

“The partnership with M-DAQ affirms GPW’s broader purpose to build an international capital centre. The capital markets must look at trading in financial instruments through the prism of facilitating access for investors. Any limitations, such as currency in which transactions can be executed, thanks to technology will be eliminated in the near future, and GPW wants to be at the forefront of these innovations”, says Izabela Olszewska, Member of the Management Board at GPW.

M-DAQ’s Trading the Right Chart™ was chosen because it is the first trading solution that blends benefits of FX transparency to provide price certainty for investors globally to trade in their preferred currency. The solution is tailored for stock exchanges which deal with international investors and stakeholders.  

"M-DAQ is delighted to be the first Singapore flagship fintech company to partner with GPW. By leveraging on our wealth of experience in partnering with stock exchanges, we will work alongside GPW to co-design a solution that would increase the ease of access for investors, thereby cementing GPW’s position as an international capital centre.", says Richard Koh, Founder and CEO of M-DAQ.

The 10 supported currencies include Swiss franc, Euro, British pound, Hungarian forint, Japanese yen, Norwegian krone, Swedish krona, Ukrainian hryvnia, and US dollar.

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The Warsaw Stock Exchange Group (GPW Group) operates trading platforms for shares, Treasury and corporate bonds, derivatives, electricity and gas, and provides indices and benchmarks including WIBOR and WIBID. The index agent FTSE Russell classifies the Polish capital market as a Developed Market since 2018. The markets operated by the GPW Group are the biggest in Central and Eastern Europe. For more information, visit www.gpw.pl

M-DAQ is a global leading FX solution specialist to cross-border commerce. M-DAQ was founded in January 2010 with a vision to create a World without Currency Borders®. Today the 12-year-old Singapore-based company is one of the most valuable FinTech companies in the region and is partnering with the world’s largest eCommerce and Payments ecosystems. In August 2021, M-DAQ raised S$200 million in its Series D funding and boasts of an elite group of strategic and financial investors, including Affinity, Ant Group, EDBI, NTT Communications, Samsung, and Kiwoom Shinhan.