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- GPW reduces fees on trade in shares as of 1 January 2016, turning the savings on changes of the KNF supervision fees over to the market
- The reduction applies to all orders, to the extent of the value of an order up to PLN 100 thousand
- The fees are reduced to 0.029%
The Warsaw Stock Exchange (GPW) will reduce fees on trade in shares, rights to shares, and ETF units as of 1 January 2016. The reduction is a promotion for an undetermined period on the Main Market and on NewConnect, resulting from the planned change of financing of the capital market supervision system. The structure of the fee reductions was consulted by GPW with the Chamber of Brokerage Houses. The reduction is consistent with GPW’s earlier announcements and in line with the Company’s long-time strategy.
“In view of the change of the financing model of the capital market supervision system in Poland, following an analysis of different variants, we have decided to turn our savings over to the market through reduced fees on trade in shares. The reduction applies to all orders, but its impact is the biggest for the smallest orders, particularly popular with individual investors,” said Paweł Tamborski, President of the GPW Management Board.
GPW is not planning at this time any reduction of fees charged from issuers.
“Trading fees are an important driver which can make markets attractive. This is why we have decided to reduce those fees which are less competitive compared to other exchanges. GPW’s fees charged from issuers of shares are in line with the European market benchmark. For smaller issuers with a capitalisation up to a dozen million euros, our fees are significantly lower than on most exchanges,” said Grzegorz Zawada, Vice President of the GPW Management Board.
Market supervision fees paid by GPW to the Polish Financial Supervision Authority (KNF) have increased by 187% in the last 10 years. However, the Exchange has maintained unchanged fees charged from issuers on the Main Market in shares. With the new financing rules of the capital market supervision system, Poland will comply with the standards applicable on mature European markets where the cost of supervision is shared by all market participants.
EXCHANGE FEES CHARGED FROM EXCHANGE MEMBERS – operating fees on the cash market
GPW promotion fees:
* The fixed fee on an order following a reduction under Resolution No. 1058/2012 of the Exchange Management Board of 22 October 2012 (as amended).
** The reduction does not exclude reductions under other Resolutions of the Exchange Management Board.
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Warsaw Stock Exchange (GPW) is the biggest securities exchange in Central and Eastern Europe. GPW operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. GPW is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, GPW is a public company listed on Warsaw Stock Exchange. For more information visit http://www.gpw.pl
