- Warsaw Stock Exchange (GPW) plans to launch a market for shares of foreign companies, GlobalConnect, on 4 November 2022
- GlobalConnect will allow investors to invest in shares of global companies in PLN during trading hours on Warsaw Stock Exchange
- The first Introducing Market Maker is Santander Brokerage Poland, which will also make GlobalConnect available to retail investors. Also joining the market are: Dom Maklerski Banku Ochrony Środowiska, ING Bank Śląski, Opera Dom Maklerski
- Shares of the following companies will initially be available for trading: Allianz, BMW, Mercedes Benz, Siemens, and Volkswagen
A new market will be launched on Warsaw Stock Exchange (GPW) to list shares introduced to trading by Introducing Market Makers without consent of the issuer. The first trading session on GlobalConnect is scheduled for 4 November. With the new market, investors will be able to buy and sell shares of the largest and best-known foreign companies on GPW. Santander Brokerage Poland has become the first Introducing Market Maker for shares of foreign companies on GlobalConnect. An application to join the market and to expand their retail offering with GlobalConnect has been submitted by ING Bank Śląski, Dom Maklerski Banku Ochrony Środowiska, Opera Dom Maklerski, and Santander Brokerage Poland. Clients of these brokerage houses will be the first to get access to the new market.
“We are committed to ensuring that participants in the GPW markets have access to a wide range of products to invest under simple and clear rules, which is why we are constantly looking for new ways to make our offering more attractive. One such initiative is the establishment of the new market GlobalConnect. It will allow brokers to expand their services and reduce the cost of accessing foreign markets. Investors will have the opportunity of geographic diversification of their portfolios while trading in their home currency. The liquidity will be supported by a professional market maker. We hope that the offer will be of interest to market participants, particularly individual investors,” said GPW Management Board Member Izabela Olszewska.
In the initial phase since its launch, GlobalConnect will list shares of five European companies (Allianz, BMW, Mercedes Benz, Siemens, and Volkswagen) with plans to gradually expand the offering. US shares are also expected to be listed at a later stage. The selection of companies to be listed on GlobalConnect will be at the discretion of the Introducing Market Makers. They will also be responsible for ensuring liquidity of the introduced shares. The pace of expansion of the GlobalConnect offer will depend on investor interest and the readiness of the Market Makers.
“We have been market making on the Warsaw trading floor for many years. We follow new trends and work to implement innovative solutions. We know that listing of foreign financial instruments on the local market has taken off very well in Western countries, including Vienna. This is why we see a great potential in GlobalConnect and we are happy to be the first to offer this solution together with GPW to other market participants. We are starting with a few really interesting companies so that other brokers and clients can get used to the new market. We will certainly be expanding the pool of available instruments,” said Daniel Posyniak, Deputy Director at Santander Brokerage Poland.
The new market will operate in the GPW Alternative Trading System (ATS). Trading on the market will take place during GPW trading sessions, Monday to Friday between 09:05 and 17:05. Shares of foreign companies will be quoted in Polish zloty (PLN). Investors can place orders through an existing or new account with any domestic brokerage firm which includes GlobalConnect in its offering. Fees charged to exchange members operating on the market will be the same as those charged on the GPW Main Market.
Shares of companies admitted to trading on GlobalConnect will carry the same ISIN codes (security identifiers) as those available on their home markets, and transactions will be settled in the Central Securities Depository of Poland (KDPW).
Holders of shares listed on GlobalConnect will be entitled to benefits including dividends. However, the terms of such benefits depend on two factors: first, how they are processed by the foreign depository through which the foreign shares come to the Polish market; and second, how domestic brokers participating in GlobalConnect handle such events.
For more information about GlobalConnect, including the Rules and other documents that will apply to market participants, visit: https://gpwglobalconnect.pl/en-o-rynku
