- Investor structure on WSE’s Main Market in equities in H1 2013 changed only moderately; the share of foreign investors was 49% (+3 percentage points YoY), the share of institutional investors was 37% (+2 percentage points YoY), and the share of retail investors was 14% (-5 percentage points YoY).
- Retail investors remained in the lead on NewConnect and generated 72% of trading in H1 2013.
- Retail investors also remained the leading group in futures trading (51%) while the share of foreign investors in trading in contracts was 16% and the share of domestic institutions was 33%.
- The activity of institutional investors on the options market increased substantially in H1 2013 (48% share, +16 percentage points YoY).
WSE MAIN MARKET – Equities Trading:
Foreign investors generated the biggest part of trading in equities on the Main Market in H1 2013, similar to previous years. They contributed 49% of equities trading, compared to 48% in the whole year of 2012. Brokers from the United Kingdom were the leading group of foreign brokers in H1 2013 (57%), followed once again by French brokers (18%).
Domestic financial institutions generated 37% of trading in H1 2013. Investment funds and market makers were the leading groups of domestic institutions (30% share each), followed by pension funds (25%).
The share of retail investors in equities trading on the Main Market was 14%, compared to 16% in H2 2012.
Table 1. Investor structure on the Main Market in equities.
Source: WSE survey of investment firms, estimates
NEW/CONNECT:
On NewConnect, retail investors remained in the lead and generated 72% of trading in H1 2013. Foreign investors contributed 7% of trading in the period while domestic institutions generated 21% of trading. Investment funds were the leading group of domestic institutions and accounted for 33% of trading in equities on NewConnect.
Table 2. Investor structure on NewConnect.
Source: WSE survey of investment firms, estimates
DERIVATIVES MARKET:
Domestic retail investors were in the lead in H1 2013 also on the derivatives market as their share in trading was 50%. Domestic institutions generated 34% of trading and foreign investors generated 16%. The share of institutional investors in options trading changed substantially: domestic institutions generated 48% of trading in the period, foreign institutions generated 14% of trading in options, and the share of retail investors decreased to 38% (compared to 46% in H2 2012).
Table 3. Investor structure on the futures market.
Source: WSE survey of investment firms, estimates
Table 4. Investor structure on the options market.
Source: WSE survey of investment firms, estimates
The WSE conducted a survey of the share of different investor groups (foreign investors, domestic institutional investors, domestic retail investors) in trading in financial instruments on the market in H1 2013. According to the applied methodology,* the share of each investor group is based on the results of a survey of domestic brokerage houses while annual figures are based on semi-annual numbers.
*The survey covered 31 domestic WSE members who completed questionnaires distributed by the WSE. The respondents provided specific figures. The structure of foreign clients of Exchange Members was estimated using a modified method. The activity of market makers and management of clients’ portfolios were included in the category of domestic institutional investors. The survey covered session trading on the WSE.
2013-07-31_Share of investors in trading on the WSE_H1 2013.pdf