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- Today the WSE starts to publish WIG30, an index comprised of the 30 biggest and most liquid stocks listed on the Warsaw Stock Exchange.
- The new index is a better reflection of the size and sector diversity of companies listed on the WSE.
- WIG30 will be the underlying of new index futures and options to be introduced to trading in late 2014.
On 23 September 2013, the WSE starts to publish new indices: WI30 and WIG30TR, with portfolios comprised of the 30 biggest and most liquid stocks listed on the WSE Main Market. WIG30 is a price index, i.e., the calculation of its value only includes prices of trade made. The WIG30 portfolio will include no more than 7 companies from a single sector while the share of a single company in index capitalisation is capped at 10%. WIG30TR is a total return index, i.e., the calculation of its value includes both the prices of trade made and dividend income or income from subscription rights. According to the timeline, WIG30 and WIG20 will be published in parallel until the end of December 2015.
“WIG30 is a better reflection of the growth of the Polish economy and the dynamic development of the Polish capital market in the past years; the expansion of the elite group of listed companies will be an important factor of their further growth and should attract even more investor interest in their stock. The replacement of the main stock exchange index is complementary in nature as it covers both the cash and the derivatives market: the new index will improve the liquidity of trading on the equities market and, in the future, stimulate growth of the derivatives market,” said Adam Maciejewski, President of the WSE Management Board.
The expansion of the portfolio of the WSE’s main stock index also implies modifications to existing index-based derivatives. WIG30 will be the underlying of new futures and options, and it will eventually replace the currently listed WIG20 futures and options. The migration from the currently listed derivatives to new derivatives will begin in late 2014 and includes parallel listing of WIG20 derivatives and WIG30 derivatives for a certain period of time. According to the timeline, the migration to the new derivatives will be completed by September 2015.
Table 1. Main parameters of the indices WIG30 and WIG30TR.
Table 2. WIG30 index portfolio as at 23 September 2013 (index participants listed in alphabetical order).
Figure 1. Comparison of WIG20 and WIG30 (WIG30 value re-calculated back to 28 December 2012).
Figure 2. Comparison of WIG20TR and WIG30TR (WIG30TR value re-calculated back to 28 December 2012).
For more details about the new indices and the migration procedure, visit the website: www.gpw.pl/wig30
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The Warsaw Stock Exchange is the biggest securities exchange in Central and Eastern Europe. The WSE organises trading on one of the most dynamically growing capital markets in Europe. The WSE operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. The WSE is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, the WSE is a public company listed on the Warsaw Stock Exchange. For more information visit http://www.gpw.pl
