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2017-03-21 18:55:22

GPW extends fee reductions for Market Makers

Warsaw, 21 March 2017

GPW extends fee reductions for Market Makers

PRESS RELEASE

  • GPW extends reduction of trading fees for Market Makers on WIG20 futures from 1 April 2017 to 30 September 2017
  • Furthermore, transaction fees executed by Market Makers in equities outside of WIG 20 index shall be charged 0 PLN
  • Goal of the promotion is to improve liquidity in small and mid-cap stocks and to support local brokers

The Warsaw Stock Exchange extends the fee reduction for Market Makers of WIG20 futures until 30 September 2017.
Under the promotion we have reduced fees between 27% and 41% with respect to volume threshold reached by eligible entity. Volume thresholds are as follows:

  • from 15 000 up to 35 000 contracts – fee is PLN 0.50 per contract
  • over 35 000 – fee is PLN 0.40 per contract

Furthermore, transaction fees executed by Market Makers in equities outside of WIG20 index shall be charged 0 PLN until the end of September 2017.

The main objective of the fee reduction is to improve liquidity in small and mid-cap equities and to support local brokers. The turnover of non-WIG20 equities has increased substantially during the period when we have introduced the trading fee incentives, especially compared to the same period before the reduction. According to GPW’s research, the fee cut has clearly boosted the turnover of small and mid-cap stocks by Market Makers. Improved liquidity is an important driver of investors’ interest in such stocks. Improvement in liquidity has helped to narrow the spreads, also resulting in a reduction of transactions costs other than trading fees.

“To address the expectations of market participants and with a view of dynamic development of the Polish capital market, GPW extends the validity of reduced transaction fees for Market Makers of stocks and index futures. The extension of the fee reduction follows with GPW’s strategy of encouraging investor activity in the segment of small and mid-cap stocks and WIG20 futures. We hope that GPW’s active fee policy addressed to the Market Makers will bolster both turnover and liquidity to the advantage of all investors,” said Jacek Fotek, Vice President of the Management Board of the Warsaw Stock Exchange.

Dilatation of the promotion is a part of the strategy encouraging investor activity through a flexible fee policy aligned with the needs of different groups of GPW clients. The overarching objective of the Warsaw Stock Exchange is to serve the interests of all capital market participants.

The discounted fees for the Market Makers of non-WIG20 stocks and WIG20 futures will apply from 1 April to 30 September 2017.

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Warsaw Stock Exchange (GPW) is the biggest securities exchange in Central and Eastern Europe. GPW operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. GPW is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, GPW is a public company listed on Warsaw Stock Exchange. For more information, visit http://www.gpw.pl/.

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