The option calculator (“Calculator”) has been developed for individual investors for educational purposes. The Warsaw Stock Exchange (“GPW”) has made best efforts to ensure that the Calculator computations are complete and true; however, there can be no guarantee that they are correct and that information from external sources is consistent with the factual or legal circumstances, and GPW has no liability for any losses caused by any use of such computations. Data generated by the Calculator are not an offer to buy or sell any financial instruments or investment services and cannot be considered a recommendation to invest in any financial instruments.
Market makers effectively support trade liquidity in financial instruments.
GPW allows for two types of market makers: market makers and issuer market makers.
A market maker is an exchange member or another entity which has agreed, under an agreement with GPW, to trade on its own account in order to support liquidity of a financial instrument.
An issuer market maker is an exchange member or another entity which has agreed, under an agreement with an issuer of a financial instrument, to support liquidity of the given financial instrument.
Market makers and issuer market makers are not allowed to submit orders which, once executed, would result in a transaction where the market maker or issuer market maker would be both the selling and the buying party of the same executed order.
Brokers are individuals designated by an exchange member to submit, modify and cancel orders on the exchange under the applicable regulations. An exchange member’s brokers are supervised by a Supervising Broker. The Supervising Broker is responsible for supervision, verification, control of procedures and authorizing brokers to submit orders.