- The session supervision module implemented by the Warsaw Stock Exchange has been operating all the time. The module is used to capture market manipulations. By the end of November, the WSE will implement a new, world-class session supervision module. This will be an additional, definitely more advanced tool than the WSE uses today - announced President of Warsaw Stock Exchange Marek Dietl in a conversation with WNP.PL.
- There are still over 2.000 companies in Poland that could be listed. The funds of future pensioners gathered in the ECP (Employee Capital Plans) will attract the best Polish companies to the stock exchange, and the profits of these companies will increase our pensions - he adds.
The WSE is working on a draft strategy for the capital market, which assumes the removal of significant regulatory barriers present on the capital market within six months, and all of them within two years. The stock exchange is waiting for the inflow of capital related to the entry of the ECP.
According to the President of Warsaw Stock Exchange Marek Dietl, the funds of future pensioners gathered in the ECP will attract the best Polish companies to the stock exchange. He claims that there are 2.000 entities that can be listed in Poland.
In your opinion, are we facing a crisis considering the recent turbulence in stock exchanges? Is the WSE prepared for a possible crisis?
Marek Dietl, President of Warsaw Stock Exchange: - In matters related to stock exchange business, a solution to problems is to act in advance. This is what we do by executing our strategy, implementing new ideas that will push the entire market forward.
When it comes to trust in the stock exchange, the level of maturity of a given market is recognized by the way it responds to difficult situations. Trust should be rebuilt, and this can be achieved by creating a strong compliance culture.
Can you specify?
- On October 8, the Warsaw Stock Exchange has adopted a canon, anti-corruption standards that are compatible with international standards, in particular with ISO 37001 ISO 37001 Anti-Bribery Management Systems standard. It can be treated as a pattern of conduct. The implementation of these principles will significantly reduce the probability of such questionable legal situations.
The session supervision module implemented by the Warsaw Stock Exchange has been operating all the time. The module is used to capture market manipulations. By the end of November, the WSE will implement a new, world-class session supervision module. This will be an additional, definitely more advanced tool than the WSE uses today.
What do the works on the strategy for the entire capital market involve?
- The governmental strategy for the capital market is supposed to be an important element of the Strategy for Responsible Development. As a stock exchange, we support this project and we are actively involved in its implementation, waiting for the final results of the analysis, which are to be presented later this year. The draft strategy assumes the removal of significant regulatory barriers present on the capital market within six months, and all of them within two years.
We hope that together we will develop a coherent plan that will contribute to the success of the entire market. We hope that incentives for issuing and investing on the stock exchange will also appear.
How the promotion given by FTSE Russell impacts the stock-exchange?
- The decision of the FTSE Russell agency to recognize our capital market as a developed one is the crowning achievement in the long path. Let me remind you the most important events for the Community capital market. The first Stock Exchange in Poland was opened in Warsaw on May 12, 1817 - we still remember this date. The first session of the WSE, which was opened after the transformations in 1989, took place on April 16, 1991.
24 September 2018 will be remembered as the day our market got recognized as one of the 25 best developed economies in the world. This is a great success but at the same time a large commitment. There are many challenges for the market infrastructure institutions, regulators, banks and brokerage houses and issuers, associated with the need to meet high standards and expectations of investors placing their capital in developed markets. After reclassification, Poland is perceived by economic and financial environments as a stronger country.
What about the WSE strategic initiatives?
- Their implementation is in full swing. In June, we presented 14 WSE projects, this year we also plan to expose the details of one more interesting initiative. The new strategy refreshes the image of the stock exchange, especially for young people who want to allocate some percentage of their savings.
The first results of our strategy will be visible in the first quarter of 2019, when we will present a comprehensive educational programme “WSE Growth”. Its main assumption will be to support companies in creating their value through expansion using external sources of financing, with emphasis on development through the capital market.
We also focus on the construction of new platforms enabling buyers and sellers to meet. We are building a completely new market for small and medium-sized enterprises and start-ups - Private Market. It will be a new ecosystem with opportunities to raise capital, but also the entire system of services that start-ups need for development.
We also create a company, GPW Ventures, which will invest in venture capital funds operating at the pre-IPO stage.
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