GPW

GPW, short for Giełda Papierów Wartościowych w Warszawie, is the Warsaw Stock Exchange, the primary securities exchange in Poland. It provides a centralized marketplace for trading and listing financial instruments, including shares, bonds, and derivatives, and serves as a cornerstone of the Polish capital market. Trading occurs on electronic platforms across multiple segments, notably the Main Market for larger, established issuers and NewConnect for smaller and growth-oriented companies, as well as dedicated segments for bonds and derivatives.

The exchange supports primary listings, ongoing disclosure, and post-trade services through its clearing and settlement infrastructure. It operates in coordination with other market participants to ensure transparency, market integrity, and investor protection. GPW’s activities encompass market development, price formation, and the promotion of Polish securities to domestic and international investors.

GPW is regulated by the Polish Financial Supervision Authority (KNF) and functions within Polish and European Union financial law. Clearing and settlement are provided in partnership with the national clearing and depository ecosystem, ensuring trade finality and custody of securities.

History and scope: The modern GPW emerged in the post-1990 liberalization of Poland’s economy, building on a longer historical legacy of Warsaw’s securities trading dating back to the 19th century. Today, GPW is recognized as a leading exchange in Central and Eastern Europe and is a member of international market bodies such as the World Federation of Exchanges, reflecting its integration into global financial markets.