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New Instrument On Warsaw Stock Exchange

Date 12/11/2001

On November 26, 2001, a new derivative instrument MiniWIG20 - makes its debut on the Warsaw Stock Exchange.

MiniWIG20 is an index participation unit (IPU) based on WIG20 index and tracking its performance. This feature makes the investment in MiniWIG20 comparable to investment in a WIG20 index portfolio without, however, the necessity to actually purchase individual index components.
The underlying instrument - WIG20 is a price index covering 20 largest and most liquid WSE-listed companies.

IPUs are priced in zlotys (PLN) with the price of one unit being equal to 1/10 of the value of the index, thus making MiniWIG20 prices comparable to the price level of individual stocks.

MiniWIG20 main advantages

  • investment in the index in one transaction substitute to buying the underlying WIG20 portfolio (no leverage for the buyer)
  • possibility to make money both on ups (by buying MiniWIG20) and downs (by selling, i.e. writing MiniWIG20) of the market
  • reduction of investment risk due to portfolio diversification
  • easy exit for a buyer (two ways to close a position selling or exercising IPU)
  • transparent pricing a clear relation between the IPU value and WIG20 index
  • low transaction costs

MiniWIG20 trading

  • trading hours: MiniWIG20 will be traded in continuous trading - from 9.00 to 16.10.
  • applicable price variation limits: for opening, transaction and closing prices 10% of the reference price (previous day closing price).

More information on MiniWIG20 is available in the publication:

Trading Rules for Participation Units on the Warsaw Stock Exchange Index WIG20