20 - GPW

NUMBEROFIPOsINEUROPEIN201*(TOP6EXCHANGES)200140120203100801076040200WarsawLSE Group30OMX26Euronext20Luxembourg18DeutscheBoerse*Regulated and alternative marketsSource: IPO Watch Europe ReportTHE WARSAW STOCK EXCHANGE AS A WSE-LISTED COMPANYAs a crowning of the 20 years of its robust growth, the Warsaw Stock Exchangemade a public offering and brought its shares to its own Main List on 9 November2010. As a public company, the WSE seeks to raise its international profile byexpanding its product range for investors and issuers, seeking new companiesand intermediaries, and improving the market in terms of organisation,technologies and legal regulations.WSE’S OFFERING FOR ISSUERS AND INVESTORSTrading on the Warsaw Stock Exchange takes place on five markets:TheMainListhas been in operation since 16 April 1991, the very first day of WSE.A regulated market supervised by the Polish Financial Supervision Authority, it isa trading platform for shares, bonds, pre-emptive rights, rights to shares,investment certificates, structured products, ETFs, warrants and derivatives.On the WSEderivativesmarket, in operation since 1998, investors can choosefrom:WIG20 and mWIG40 futures,Currency futures (USD/PLN, EUR/PLN, and CHF/PLN),Stock futures for the most liquid companies,Index options (WIG20),MiniWIG20 (IPUs).The Warsaw derivatives market is the most significant market of this kind amongCEE exchanges. In 2011 the WSE derivatives market reached new highs as theturnover volume in all instruments attained 15.6 million.

www.wse.com.plIndex futures have been the most popular derivatives for a number of years. Like many times in the past,the WSE closed 2011 on the 4th position in Europe in terms of trading volume in those instruments.NewConect, launched on 30 August 2007, is the WSE’s alternative tradingplatform. This market is designed primarily for dynamic start-ups operatingin the sector of new technologies.NewConnect is among the youngest but also the most robust alternativemarkets in Europe. 2011 saw further intensive growth, with 172 new listings(higher than any other alternative equities market in Europe). At the end of2011, after less than 5 years of operations, there were 351 companies listedon NewConnect.Catalystis a market for debt instruments opened on 30 September 2009.It consists of two platforms organized as regulated markets and two asalternative trading systems (ATS), for both retail and wholesale customers.At the end of 2011, a total of 250 series of debt instruments issued by over100 entities were listed on Catalyst.WSEnergyMarketlaunched on 11 December 2010 to expand WSE'soperations into the commodities market. It is a transaction platform forenergy, intended for all categories of participants on the energy market.In Q1 2012 the WSE aquired a majority stake in the PolishPowerExchange(POLPX)to further integrate the national trading and clearinginfrastructure on the capital and commodity markets.ORGANISATION OF TRADING – UTP IMPLEMENTATIONTrading on the WSE is conducted under two systems: continuous trading and single-price auctions.Starting from 2011 the duration of WSE sessions was brought in line with West European markets: thesessions were extended by one hour and now close at 5:35 pm.The WSE is implementing the Universal Trading Platform under a contract with NYSE Euronext. The newtransaction system, scheduled for launch in November 2012, will offer highly improved trade executionefficiency and a broader range of functionalities, thus paving the way for further dynamic growth of themarket.WSE MEMBERSBoth domestic and international investors have access to the Warsaw Stock Exchange through WSEmembers. At the end of 2011 there were 61 members including 30 Polish and 31 foreign companies.The full list of WSE members is available at w.wse.com.plINVESTOR STRUCTUREA diversified investor structure has been a significant factor fuelling the growth of the WSE for manyyears.

INVESTORSTRUCTUREIN208–201InvestorsForeigninvestorsDomesticindividualinvestorsDomesticinstitutionalinvestorsInstrumentsEquities (WSE Main List)Futures contractsOptionsEquities (WSE Main List)Futures contractsOptionsEquities (WSE Main List)Futures contractsOptions2011 2010 2009 200847 47 364316 14 11 1024 12 4 1218 19 27 1846 50 52 5364 60 65 5835 34 37 3938 36 37 3712 28 31 30WSE INDICESThe most recognized indices calculated by the Warsaw Stock Exchange are:WIG20– the WSE ‘blue chips’ index calculated using the stock prices of 20 largest and most tradedcompanies. The index is published at 15-second intervals.mWIG40– this index covers medium-size companies (in terms of free float and trading value).It includes 40 companies and is updated throughout the trading session at 1-minute intervals.sWIG80– this index covers companies which are smaller than those included in WIG20 and mWIG40.It is updated throughout the trading session at 1-minute intervals.WIG– the oldest index of the WSE, calculated since the first ever trading session in 1991. Its portfoliocovers all listed companies which meet the relevant free float and financial standing criteria. WIG ispublished at 1-minute intervals.For more information about the WSE indices, please visit w.wse.com.pland w.newconect.euWSE ONLINEThe Warsaw bourse publishes market data via its publicly accessible websites.w.wse.com.pl– this is the main website of the WSE which provides quotations with a delay of 15minutes. The exception are WIG20 values, published in real time. The WSE’s website brings currentupdates and resolutions adopted by its Management Board and the Supervisory Board, an extensiverange of statistics, information about the organisation, operation and history of the Warsaw bourse, legalregulations as well as educational materials.w.newconect.euis the main website of NewConnect, the WSE’ alternative market. The site featuresindex values and stock quotations. Moreover, it brings recent updates, legal regulations, statistics andcontact details of all listed companies, Authorised Advisers, market participants and data distributors.w.wsecatalyst.plis the website dedicated to Catalyst, the WSE’s debt market, and providesinformation on listed instruments, market data, quotations, educational materials for investors,information for potential issuers, issuers’ documents and reports as well as Catalyst regulations.w.polpx.plis devoted to the WSE’s commodity market. It features current updates, messages,resolutions and market data.w.WSEInfoSpace.eu– this site provides comprehensive information about Polish and foreigncompanies listed on the WSE as well as economic/business events on CEE markets.w.corp-gov.gpw.pl– this website is devoted to corporate governance in listed companies.

WARSAWSTOCKEXCHANGEKsiążęca 4, 00-498 Warsaw, PolandTel. +48 22 628 32 32, fax: +48 22 628 17 54wse@wse.com.pl , www.wse.com.plWarsaw, April 2012