News
Investor Activity on GPW in February 2026
The shortest month of the year saw sustained strong investor activity. Main Market equity turnover totalled PLN 49.3 billion in February 2026, up 19.9% year on year. Average daily equity turnover increased by 23.6% year on year to PLN 2.44 billion. WIG closed the month at 126,786.67 points, gaining 37.8% year on year.
- PLN 48.8 billion – Main Market EOB equity turnover value in February 2026 (+23.6% YoY)
- PLN 2.44 billion – average daily EOB equity turnover value in February 2026 (+23.6% YoY)
- PLN 602.7 million – ETF and ETC turnover value in February 2026 (+179.5% YoY)
- 13.9 TWh – total electricity turnover volume in February 2026 (+70.2% YoY)
- 22.0 TWh – total gas turnover volume in February 2026 (+55.2% YoY)
- 126,786.67 points – WIG at the end of February 2026 (+37.8% YoY)
Equity Market
February 2026 brought continued strong investor activity on the equity market. Total GPW Main Market equity turnover was PLN 49.3 billion, up 19.9% year on year. EOB equity turnover increased by 23.6% year on year to PLN 48.8 billion. Average daily EOB equity turnover was PLN 2.44 billion, up 23.6% year on year.
NewConnect total equity turnover increased by 84.1% year on year and reached PLN 275.0 million in February 2026. NewConnect EOB equity turnover value increased by 62.8% year on year to PLN 236.7 million.
GlobalConnect equity turnover stood at PLN 39.6 million in February 2026 vs. PLN 8.5 million in February 2025.
Structured Product and ETF Market
Total ETF and ETC turnover value increased by 179.5% year on year and reached PLN 602.7 million in February 2026. ETF and ETC turnover in the two months of 2026 exceeded PLN 1.3 billion, more than the annual ETF and ETC turnover in 2023. Structured product turnover value also increased to PLN 428.2 million in February 2026, up 33.6% year on year.
Derivatives Market
Total derivatives turnover volume was 707,600 instruments in February 2026, down 20.5% year on year. Index futures turnover decreased by 15.3% year on year to 464,900 futures. Currency futures turnover decreased by 58.0% year on year to 101,400 futures. Single-stock futures turnover increased by 27.7% year on year to 166,400 futures.
Debt Market
The value of non-Treasury bond issues listed on Catalyst reached PLN 160.7 billion at the end of February 2026 vs. PLN 129.5 billion a year earlier. Catalyst EOB bond turnover increased by 38.6% year on year to PLN 746.7 million. Total Treasury BondSpot Poland bond turnover value stood at PLN 171.2 billion, up 57.0% year on year.
New Listings
In February 2026, the Kraków-based game studio One More Level was newly listed on the GPW Main Market, opening this year’s IPO season. It was the 400th company listed on the regulated market and the 102nd transfer from NewConnect. Morgan Stanley was newly listed as an issuer on the Main Market, introducing four new structured bonds to trading. The instruments, based on European equities and indices, expanded the range of structured products available to investors, strengthening this dynamically growing segment on the Warsaw Stock Exchange.
In February 2026, two new corporate bond issues were introduced to trading on Catalyst. Warimpex Financing PL, a special purpose vehicle of the Austrian Warimpex Group specialising in hotel and real estate investments, introduced bonds worth PLN 21 million. Bonds issued by Capital Park, a Warsaw-based developer operating in the commercial real estate market, were also newly listed. The company introduced bonds worth PLN 25.8 million.
GPW’s offering expanded to include a new category of financial instruments with the introduction of four ETNs issued by the Swedish company Virtune AB. The first products in Poland based on physically secured digital assets, providing exposure to Bitcoin, Ethereum, XRP and Solana, were newly listed on the regulated market. The instruments, listed in Polish zlotys and based on a transparent custodial infrastructure and Proof of Reserves technology, represent an important expansion of the domestic investment infrastructure with a new category of products, integrating digital assets with the supervised structure of the regulated market.
Capitalisation of GPW Listed Companies
The capitalisation of 357 domestic companies listed on the GPW Main Market amounted to PLN 1.1 trillion (EUR 268.7 billion) at the end of February 2026. The total capitalisation of 400 domestic and foreign companies reached PLN 2.5 trillion (EUR 603.3 billion).
Record WIG Performance
February 2026 saw a continued bull market on the Warsaw Stock Exchange combined with new records of main index performance. WIG hit an all-time high of 127,740.99 points on 25 February 2026. GPW’s mid-cap index also reported stable growth: mWIG40 hit an all-time high of 9,143.90 points on 3 February 2026.
Towarowa Giełda Energii
The total volume of transactions in electricity on TGE stood at 13.9 TWh in February 2026, up 70.2% year on year. The volume of spot transactions in electricity was 4.3 TWh, up 4.6% year on year, and the volume of forward transactions was 9.6 TWh, up 136.6% year on year.
The total volume of transactions in gas was 22.0 TWh, up 55.2% year on year. The volume of spot transactions in gas was 5.7 TWh, up 16.2% year on year, and the volume of forward transactions increased to 16.3 TWh, up 75.7% year on year.
Spot turnover in property rights in certificates of origin other than property rights in energy efficiency certificates (“white certificates”) reached 1.2 TWh, down 30.5% year on year. Turnover in property rights in energy efficiency certificates (“white certificates”) increased by 60.5% year on year to 18.2 ktoe.
Turnover in Guarantees of Origin for electricity generated from renewable energy sources stood at 5.0 TWh in February 2026, down 0.8% year on year.