Warsaw Stock Exchange looks stateside to boost regional role
Chief executive aims to extend NYSE-Euronext links to ease cross-market trading
Sunday 29 May 2011
The Warsaw Stock Exchange (WSE) is looking to deepen its partnership with New York as it aims to entrench its position as the leading European bourse east of Frankfurt.
The exchange signed a technology-sharing agreement with the NYSE-Euronext group last year. However, WSE chief executive Ludwik Sobolewski said that there were some early talks to extend this, such as by allowing financial intermediaries, including brokers, to be able to more easily act in each other's markets.
"For the partnership with the NYSE, maybe there are some business initiatives that could result," said Mr Sobolewski. "Maybe in areas like data distribution and cross-membership, so investment firms executing trades."
The WSE has taken over from Austria as central and eastern Europe's leading stock exchange in the past few years. For example, the companies on its exchange are worth the best part of double that of Vienna, the region's next biggest exchange.
Mr Sobolewski said that the current wave mergers between some of the world's biggest exchanges, including London's proposed deal with Toronto, could boost trade on the WSE. He said that a new wave of mega-exchanges would naturally concentrate on the world's biggest companies, meaning that many mid-sized companies could look to Warsaw where they would have much greater exposure to investors.
"With London intending to merge with Toronto they will be less focused on areas where we think we might have a strategic advantage," argued Mr Sobolewski.
"Even now in the agriculture sector we are the number one choice [of exchange] for Ukrainian companies. They realise that you do not necessarily need to go to Frankfurt or London to get additional capital. They hope that they will be more visible in the [central Europe] region."
Mr Sobolewski led the WSE's own listing on the exchange last November, one of a number of privatisations angering Polish unions.
There were protests in Warsaw last week over some of these plans when the WSE was hosting a major international summit on central and eastern European listings that attracted big companies and bankers from across the Continent.
However, senior politicians remained unrepentant, insisting their plans for the country were correct.
- 1 Israel-Gaza conflict: 'When Genocide is Permissible' article removed from The Times of Israel website
- 2 Pope Francis issues top 10 tips for happiness
- 3 Disney heiress Abigail disowns her share of family profits in West Bank company
- 4 The secret report that helps Israel hide facts
- 5 Israel's propaganda machine is finally starting to misfire
Lost portraits of the Somme: 100 images of Tommies posing before they went over the top. Now can you help to identify them?
Israel-Gaza conflict: 'When Genocide is Permissible' article removed from The Times of Israel website
Mystery of the Siberian holes at the end of the world 'solved': Scientists offer explanation
Pope Francis issues top 10 tips for happiness
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
- < Previous
- Next >
iJobs Money & Business
£300 - £350 per day: Orgtel: Financial Analyst, Forecasting, Halifax, Banking,...
£500 per day: Orgtel: Business Architect - Banking - Bristol - £500 per day A...
£200 - £500 per day + competitive: Orgtel: I am currently working on a large p...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...