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Implementation of the Warset trading system 'Warset really works, and that, much better than expected', commented Parkiet regarding the November 17, 2000 launch of the new trading system. Implementation of the system necessitated numerous changes in the entire quotation system. Warset provides more information about the market, enables investors to place new types of orders, speeds up trading, and enables automatic processing of orders. When Warset was implemented, listed securities were allocated to quotation systems (any given security may only be quoted in one system). In addition to continuous trading (with opening and closing auction), single-price auction systems were introduced, one with one auction a day*, the other with two auctions per day. All bonds and derivatives are traded in the continuous system. Sessions last from 10:00 a.m. to 4:10 p.m.; for futures contracts, from 9:00 a.m. to 4:10 p.m. * Effective April 18, 2001, the single-price system with one auction per day is no longer used for stock quotations. Stocks previously quoted in this system have been reallocated to the single-price system with two auctions per day.  |
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1991 Introduction of a computerised securities clearing system. Contract signed between the WSE and IBM Polska for supply and installation of IBM AS/400 computers. 1992 Introduction of IT system for trading sessions on an AS/400 computer. 1993 National Depository for Securities fully computerised; Crossing phase fully computerised. 1995 Continuous trading using AS/400 computer and terminals in brokerage houses introduced. 1996 Request for offers for new trading system sent out. 1997 Letter of intent signed with SBF Bourse de Paris for supply of new trading system. 1998 Contract signed between WSE, SBF - Bourse de Paris and Euronext for new system. 2000 First session held in WARSET system. |
