The National Centre for Research and Development (NCBR) has granted EU co-financing to the Warsaw Stock Exchange (GPW) for research and development work on the GPW Data system
- The project budget is estimated at PLN 8.3 million, including NCBR co-financing at PLN 4.2 million
- The project is scheduled to be rolled out in the latter half of 2021
- The development of the GPW Data system is one of the #GPW2022 strategic initiatives
On 21 August 2019, the National Centre for Research and Development (NCBR) published a list of evaluated projects proposed in the Operational Programme Smart Development 2014-2020. The projects selected for co-financing include the project of the Warsaw Stock Exchange (GPW) “GPW Data platform: an innovative Artificial Intelligence system supporting investment decisions on the capital market”. The project cost is estimated at PLN 8.3 million, including NCBR co-financing at PLN 4.2 million.
“The GPW Data project is a key strategic initiative of the Warsaw Stock Exchange aligned with the Capital Market Development Strategy which provides among others for the introduction of electronic reporting standards in the Inline eXtensible Business Reporting Language (iXBRL). Automation of access to and analysis of market data is of key relevance to Polish capital market. The project will help us set new trends in the development of state-of-the-art technological solutions on the Polish capital market,” said Piotr Borowski, Member of the GPW Management Board.
The GPW Data project is based on machine learning and artificial intelligence to enable capital market participants to make faster optimised decisions when investing on the exchange. The GPW Data system will support fast access to, analysis and processing of market data, as well as the development of investors’ proprietary trading algorithms based on AI.
“The introduction of state-of-the-art innovative tools supporting market data analysis and investing as well as further development of modern trading formats such as algorithmic trading is crucial to the growth and competitivity of the Polish capital market. The share of algorithmic trading in equity trading on GPW is close to 10% as compared to approximately 70% on the biggest trading venues in Europe and the USA (2018 figures). The implementation of similar systems by other developed exchanges boosted the interest of investors in listed stocks and trading volumes,” said Piotr Borowski, Member of the GPW Management Board.
Project work will be initiated later this year with the first stage involving the development of financial reporting models compliant with the applicable electronic reporting standards. Next steps will focus on the creation of a reporting system, followed by the development of investment tools. The project is scheduled to be rolled out in the latter half of 2021.
The GPW Data project is a part of GPW’s strategic initiatives in the Exchange’s information services business segment. The project is crucial to the diversification of the GPW Group’s revenue.
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The Warsaw Stock Exchange Group (GPW Group) operates trading platforms for shares, Treasury and corporate bonds, derivatives, electricity and gas, and provides indices and benchmarks including WIBOR and WIBID. The index agent FTSE Russell classifies the Polish capital market as a Developed Market since 2018. The markets operated by the GPW Group are the biggest in Central and Eastern Europe. For more information, visit www.gpw.pl