News

The turnover of the cash market amounted to PLN 4 446 million and was 13.7% lower compared to May. On the futures market turnover totalled PLN 5 423 million, 9.3% lower than in the previous month.

On June 4, 2003, the Exchange Supervisory Board admitted to trading on the Exchange shares in the company HOOP SA from series D and E, as well as allotment certificates for shares from series E. Starting from June 4, 2003, the Exchange Supervisory Board obliged the company to follow reporting requirements for listed companies and to meet the specific additional disclosure requirements.



On June 10, 2003, 5-year Treasury bonds with a fixed interest rate and maturity on June 2, 2008, (abbreviated name SP0608) with a nominal value of PLN 100 each debuted on the Exchange.

As a result of the assimilation of NETIA shares on June 5, 2003, the NET2 line was quoted for the last time and the following day NETIA had only one quotation line.

Effective from June 13, 2003, publication rules for WSE indices were changed. This is a result of the launch of a new index module - INDEXATOR - responsible for the calculation and distribution of WSE indices. As of June 13, 2003, values of the WIG20 index in continuous trading are published every 15 seconds - this is twice as often as previously. The frequency of publication in the case of values for the TechWIG (30 seconds), the WIG and the MIDWIG (60 seconds) indices has not changed. The NIF index values are now published every 2 minutes (previously every 1.5 minutes).

Before the opening of the trading session, until the opening index values are published - for each of its indices the Exchange publishes indicative opening values based on theoretical opening prices and transactions that have already been concluded in a given set of index constituent stocks.
Additionally, in the case of the WIG20 index, the values based on the best bid and ask offers concerning the index constituent stocks are also published during continuous trading.
In addition, during the trading session at 15.20 (following the second single-price auction) the WIRR index and WIG sectoral sub-indices values are published. Thus, the Exchange publishes the value of these indices three times in the course of each trading session: following the first and second single-price auctions and following the close of the session.

Starting from June 13, 2003, the information presented in the WSE Official Daily Bulletin CEDULA concerning the company PIA PIASECKI has included the annotation "the issuer has filed for bankruptcy".

On June 23, 2003, the Exchange announced its plans to launch trading in options on the WIG20 index on September 22, 2003. This date is a result of consultations with brokerage firms and thus should allow all interested entities to prepare for options trading.WIG20 options shall complement the present WSE derivative product offer. There are also plans to introduce options on individual stocks to trading in 2004.
Until the end of 2003, transaction fees applicable to options trading will be reduced by 50%.
The WSE derivatives market was launched in 1998 with the introduction of WIG20 futures. In addition, in 1998 warrants were listed on the Exchange. In 2001, the Exchange launched index participation units. The WIG20 futures proved a spectacular success, becoming one of the ten most liquid index contracts in Europe.

Staring from June 24, 2003, the information presented in the WSE Official Daily Bulletin CEDULA concerning the company Wielkopolskie Fabryki Mebli SA has included the annotation: "arrangement proceedings have been instituted against the company".

On June 24, 2003, the Securities and Exchange Commission approved changes to the Exchange Rules, regarding the lowering of operational fees for bond trading - effective as of July 1, 2003.

On June 24, 2003, the Exchange announced that from September 1, 2003, there would be a modification in the session schedule. In the continuous trading system, a post-auction trading phase is to be added following the closing auction. The post-auction phase will last 10 minutes and will be activated for all the instruments quoted in the continuous system at the price determined in the course of the closing single-price auction. Consequently, the session will close at 16:20 and the subsequent pre-opening phase will be shortened.

Starting from June 25, 2003, trading in shares in the company Zakłady Elektrod Węglowych SA was suspended. The ZEW stock was delisted as of June 28, 2003, further to the company's withdrawal form public trading.

On June 26, 2003, the WSE General Meeting of Shareholders was held. Shareholders reviewed and accepted the Management Board's report and financial results of the company for 2002. Mr Wieslaw Rozlucki was re-elected as the President of the Warsaw Stock Exchange Management Board for another 3-year term, along with the following three Vice-Presidents: Mr Ryszard Czerniawski, Mr Wlodzimierz Magiera and Mr Piotr Szeliga. The General Meeting also elected a new member of the Management Board. Mr Andrzej Sopoćko is to join the WSE Management Board as the Vice-President.

On June 28, 2003, the Exchange launched its re-designed Internet site. The address remains the same - www.wse.com.pl.

In June 2003, the following companies introduced their shares to Exchange trading: Szeptel, BRE Bank and Computerland.

Changes in WSE indices

Further to the free-float of TUEUROPA falling below 5% of the total number of outstanding shares following the session on June 10, 2003, this company was removed from the WIG index participants list.

After the session on June 20, 2003, the Exchange carried out quarterly adjustments in the WSE indices and sector sub-indices portfolios. As a result of these operations, Polfa Kutno and Kruk left the MIDWIG index portfolio, while Emax, Prosper, Duda, Rafako, Mostostal Export, Sanok, Relpol, Kogeneracja, Mieszko, Strzelec, Grupa Onet and Lentex became MIDWIG index participants.

In the case of the TechWIG index, weights in the index were re-calculated, and in the case of the following companies: TPSA, Prokom, Softbank, Netia and Computerland trimmed down to 15%.

At the same time, Kopex, Oława, Stalprofil and Wistil were transferred from the WIRR to the WIG index portfolio. The WIRR index was supplemented with the following companies: previous WIG participants - Kruk, Tras Tychy and Unimil, as well as several new participants: 7Bulls, KZWM, Permedia, Pekabex and Wandalex. Additionally, Budopol, Ekodrob and Elektromontaż Export were removed from the WIRR index.

There were no changes made to to the WIG20 index portfolio.