Warsaw Stock Exchange looks stateside to boost regional role

Chief executive aims to extend NYSE-Euronext links to ease cross-market trading

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.

Suggested Topics
Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA celebration of British elections
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

SThree: Trainee Recruitment Consultant - Swiss Banking and Finance

£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...

Ashdown Group: Marketing Executive - 6 month FTC - Central London

£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...

Ashdown Group: Junior Project Manager (website, web application) - Agile

£215 per day: Ashdown Group: Junior Project Manager (website, web application ...

Guru Careers: Software Engineer / Software Developer

£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...

Day In a Page

Fishing for votes with Nigel Farage: The Ukip leader shows how he can work an audience as he casts his line to the disaffected of Grimsby

Fishing is on Nigel Farage's mind

Ukip leader casts a line to the disaffected
Who is bombing whom in the Middle East? It's amazing they don't all hit each other

Who is bombing whom in the Middle East?

Robert Fisk untangles the countries and factions
China's influence on fashion: At the top of the game both creatively and commercially

China's influence on fashion

At the top of the game both creatively and commercially
Lord O’Donnell: Former cabinet secretary on the election and life away from the levers of power

The man known as GOD has a reputation for getting the job done

Lord O'Donnell's three principles of rule
Rainbow shades: It's all bright on the night

Rainbow shades

It's all bright on the night
'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

Bread from heaven

Dutch survivors thank RAF for World War II drop that saved millions
Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

How 'the Axe' helped Labour

UK will be 'run for the wealthy and powerful' if Tories retain power
Rare and exclusive video shows the horrific price paid by activists for challenging the rule of jihadist extremists in Syria

The price to be paid for challenging the rule of extremists

A revolution now 'consuming its own children'
Welcome to the world of Megagames

Welcome to the world of Megagames

300 players take part in Watch the Skies! board game in London
'Nymphomaniac' actress reveals what it was really like to star in one of the most explicit films ever

Charlotte Gainsbourg on 'Nymphomaniac'

Starring in one of the most explicit films ever
Robert Fisk in Abu Dhabi: The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers

Robert Fisk in Abu Dhabi

The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers
Vince Cable interview: Charging fees for employment tribunals was 'a very bad move'

Vince Cable exclusive interview

Charging fees for employment tribunals was 'a very bad move'
Iwan Rheon interview: Game of Thrones star returns to his Welsh roots to record debut album

Iwan Rheon is returning to his Welsh roots

Rheon is best known for his role as the Bastard of Bolton. It's gruelling playing a sadistic torturer, he tells Craig McLean, but it hasn't stopped him recording an album of Welsh psychedelia
Morne Hardenberg interview: Cameraman for BBC's upcoming show Shark on filming the ocean's most dangerous predator

It's time for my close-up

Meet the man who films great whites for a living
Increasing numbers of homeless people in America keep their mobile phones on the streets

Homeless people keep mobile phones

A homeless person with a smartphone is a common sight in the US. And that's creating a network where the 'hobo' community can share information - and fight stigma - like never before