February 2025 was the second consecutive month of record ETF turnover on GPW. The total ETF and ETC turnover value increased by 69.8% year on year and amounted to PLN 215 million. The GPW Main Market equity turnover was PLN 41.2 billion in February 2025, representing an increase of 50% year on year. Average daily equity turnover increased to PLN 1.98 billion, up 56% year on year. The broad market index WIG gained more than 12.3% year to date in 2025.
- PLN 41.2 billion – Main Market EOB equity turnover value (up 50% YoY)
- PLN 320.5 million – structured product turnover value (up 55.8% YoY)
- PLN 215.6 million – total ETF and ETC turnover value (up 69.8% YoY)
Equity Market
February saw a rally on the Warsaw Stock Exchange. GPW Main Market total equity turnover value reached PLN 41.2 billion, up by 50% year on year. EOB equity turnover value increased by 48.5% year on year to PLN 39.5 billion. Average daily EOB equity turnover value stood at PLN 1.98 billion, up by 56% year on year. The WIG index reached 91,996.40 points at the end of February, gaining 12.3% year to date.
NewConnect total equity turnover value was PLN 149.4 million in February 2025, down by 51.7% year on year. NewConnect EOB equity turnover value dropped by 52.9% year on year to PLN 145.4 million.
GlobalConnect equity turnover value amounted to PLN 8.5 million in February 2025 vs. PLN 1.8 million in February 2024.
Derivatives Market
Total derivatives turnover volume was 0.9 million instruments in February 2025, a decrease of 10.1% year on year. Index futures turnover decreased by 18% year on year to 549,200 futures. Currency futures turnover decreased by 7.5% year on year to 241,100 futures. Single-stock futures turnover increased sharply by 26.2% year on year to 130,200 futures in February 2025.
Structured Product and ETF Market
Structured product turnover value increased by 55.8% year on year, reaching PLN 320.5 million in February 2025. Total ETF and ETC turnover value increased to PLN 215.6 million, up by 69.8% year on year.
Debt Market
The value of non-Treasury bond issues listed on Catalyst reached PLN 129.5 billion at the end of February 2025 vs. PLN 114.5 billion at the end of February 2024. Catalyst EOB bond turnover value increased by 18.8% year on year to PLN 538.7 million in February 2025.
Treasury BondSpot Poland total bond turnover value was PLN 109 billion in February 2025, up by 157.2% year on year vs. PLN 42.4 billion in February 2024.
Capitalisation of GPW Listed Companies
The capitalisation of the 366 domestic companies listed on the GPW Main Market amounted to PLN 854.3 billion (EUR 205.5 billion) at the end of February 2025. The total capitalisation of the 410 domestic and foreign companies reached PLN 1,814.5 billion (EUR 436.4 billion).
New Listings
The company DIAGNOSTYKA S.A. completed a large IPO on the GPW Main Market in February 2025. The company has been operating since 1998 and offers a wide range of laboratory and diagnostic tests. It currently has 156 laboratories and more than 1,100 collection points nationwide. Its PLN 1.7 billion offering is one of the largest IPOs in the Exchange’s history.
Bonds issued by POLENERGIA S.A. were newly listed on the debt market. It is Poland’s largest private energy group, comprised of vertically integrated companies responsible for energy generation from renewable and low-carbon sources, electricity distribution and trading. The total nominal value of the bonds amounted to PLN 750 million.
