GIELDA PAPIEROW WARTOSCIOWYCH WARSZAWIE : WSE Decides Index Modifications
September 19, 2014 at 07:35 am EDT
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2014-09-19 13:27:55
WSE Decides Index Modifications
WSE Decides Index Modifications
PRESS RELEASE
WIG20 will remain the main underlying index of derivatives
WSE will continue to publish WIG30 but won't introduce into trading any futures based on WIG30
WSE intends to promote WIG30 companies
The Management Board of Warsaw Stock Exchange has decided on modifications to exchange indices. WIG20, the price index which groups the 20 most liquid stocks listed on WSE, will remain the main underlying index. At the same time, WIG30 will continue to be published. The modification will also impact the derivatives market. The Exchange Management Board has decided not to introduce WIG30 derivatives in December 2014 but to develop derivatives based on WIG20.
The decision to maintain WIG20 as the underlying of financial instruments will impact the small and mid-cap indices linked to WIG20, i.e., mWIG40 and sWIG80. mWIG40 will continue to be published while sWIG80 (currently calculated as an investment fund benchmark under the name of MiS80) will be reactivated as of the beginning of next year. At the same time, WSE will no longer publish WIG50 and WIG250 as of the beginning of 2015. This means that WIG50 futures contracts will not be introduced into trading.
"We have discussed the index decision with the Exchange Supervisory Board and conducted broad consultations with market participants. The vast majority of our clients stress that WIG20 remains the main reference index for them. At the same time, we don't want to discontinue WIG30 because we believe that the companies in the index portfolio are attractive to investors and consequently we want to promote them, among others on foreign markets. WIG30 has its value on the market; however, our analysis clearly suggests that WIG20 is the underlying of financial instruments and that we need to continue mWIG40 and reactivate sWIG80. This is the pragmatic approach to the market which we want to pursue," said Paweł Tamborski, President of the Management Board of WSE.
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Warsaw Stock Exchange is the biggest securities exchange in Central and Eastern Europe. WSE organises trading on one of the most dynamically growing capital markets in Europe. WSE operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. WSE is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, WSE is a public company listed on Warsaw Stock Exchange. For more information visit http://www.gpw.
Gielda Papierow Wartosciowych w Warszawie SA (Warsaw Stock Exchange, GPW) is a Poland-based stock exchange. It is a parent entity of WSE Group that offers products and services within its trading markets of equity, derivate, fixed income and structured products. It also distributes market data. The Company has two business lines: Financial market, which includes trading in equities, derivatives, fixed-income and other instruments, listing, and information services; and Commodity market, which includes trading in electricity and property rights in certificates of origin, operation of a register of certificates of origin, clearing, trade and technical trade operator services. As of December 31, 2011, it operates two wholly owned subsidiaries, WSEInfoEngine SA, providing data transmission and information services; and Instytut Rynku Kapitalowego WSE Research SA, engaged in publishing; as well as 92.47%-owned BondSpot SA.
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