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GPW Group’s Strategy By 2022

Date 27/06/2018

  • The GPW Group has presented its updated strategy #GPW2022
  • 14 strategic initiatives will support the GPW Group’s growth momentum, becoming a driver of innovation in the Polish economy

The GPW Management Board, acting with the approval of the GPW Supervisory Board, has presented 14 strategic initiatives as a roadmap to improvement of the GPW Group’s international position. The Warsaw Stock Exchange will focus on the development of new platforms matching buyers and sellers on the trading floor in Warsaw. GPW will support Poland’s economy more than ever before in catching up with the most advanced economies of the world. These are the main objectives of the strategy #GPW2022 updated by the GPW Management Board. The document continues the existing strategic framework.

“We are set to compete with the 24 most advanced economies of the world following Poland’s promotion from Emerging Markets to Developed Markets status by FTSE Russell. To compete effectively, we have to improve our products and enter new business areas. We are presenting our first initiatives today. More of them will be presented in early 2019,” said Marek Dietl, President of the GPW Management Board.

Strategic initiatives #GPW2022:

  1. Primary Market Development (GPW Growth) – a comprehensive educational programme supporting SMEs. The project’s pillar is the implementation and development of GPW Growth, a programme supporting company value creation through expansion based on external sources of financing, in particular the capital market;
  2. Securities Lending and Borrowing System – improved liquidity on the GPW Group’s cash and derivatives markets through promotion and expansion of securities lending and borrowing;
  3. Derivatives Development – new futures tailored to clients’ needs, promotion of market maker orders supporting liquidity of the order book, extension of promotion and educational programmes for all groups of investors;
  4. GPW Private Market – a platform matching companies and investors on the private market. Expansion of the GPW Group’s offer for companies at all stages of growth;
  5. GPW Ventures – a special purpose entity to invest in venture capital funds (VC) as a passive investor. Financing instrument supporting growth of Polish venture capital and, in the longer term, IPOs in Poland. Improvement of GPW Group’s innovative edge with investments in technology start-ups;
  6. BondSpot Development – a full range of products and services on the debt market (Treasury bonds, corporate bonds), money market and market in derivatives based on bonds and interest rates on a single trading venue;
  7. Warsaw Repo Rate, Bondspot Benchmark – two new benchmarks on the bond market and the money market, transparent and stable benchmark calculation methods based on transaction data, improved transparency of transactions on the financial market, compliance with Benchmark Regulation No 2016/1011 of 8 June 2016 ("BMR");
  8. Instytut Analiz i Ratingu – promotion of reliable ratings on the local fixed-income market, generating tangible benefits for the Polish economy in the mid-term;
  9. GPW Data – business reporting standards ensuring automatic data processing and lower reporting costs for companies, use of big data technologies in collecting data relevant to capital market investments and generating reports, implementation of artificial intelligence (AI) tools supporting local and foreign investors;
  10. GPW TCA TOOL – Transaction Cost Analysis (TCA). The project will develop a set of innovative tools to identify and analyse transaction costs as a source of information for investors and brokers on data aggregated at micro market level;
  11. Organised Trading Facility (OTF) – transformation of TGE’s forward commodity market into an organised trading facility (OTF) under MiFID II. The Project will allow TGE to further develop forward instruments with physical delivery of electricity and gas and financial instruments;
  12. Infrastructure Services Auction Platform – auction platform of infrastructure services for the electricity and gas markets;
  13. OTC Clearing – clearing of electricity and gas forwards on organised trading facilities and in OTC trade;
  14. Waste and Secondary Raw Materials Trading Platform – electronic trading platform for waste and its recycling/disposal products. The waste platform will implement the EU model of circular economy

The GPW Management Board’s new approach to the development of the Warsaw trading floor follows from developments in the Exchange’s environment and the determination of the Management Board to advance the development status of the local capital and commodity markets. The GPW Group will focus on technological development and innovative solutions to diversify its revenue base. 

“An increasing number of innovative companies and start-ups in Poland need capital to grow. Our offer must address their needs to enable them structured access to capital. Companies still lack the ability to finance high-risk businesses. GPW wants to accommodate the needs of SMEs which will soon compete with their international peers. Companies participating in the Polish economy should offer products and services which can be scaled globally,” said Mr Dietl.

This update of the strategy #GPW2022 follows a detailed analysis and strategic review of GPW’s business, organization and processes.

“We have decided to reaffirm our existing core financial targets. We are certain than the GPW Group’s revenue CAGR of 7 percent and a double EBITDA level are ambitious goals but the strategic initiatives are designed to maintain the set goals our targets,” said Jacek Fotek, Vice-President of the GPW Management Board.

In the coming years, the capital market should support the development of new infrastructure in Poland, which requires several hundred billion zlotys of investment. GPW and other exchanges in the region will be addressing changes in the European legal and regulatory environment (including MAR, MIFID II/MIFIR), which can be facilitated by CEO Marek Dietl’s recent appointment as a Member of the Board of the Federation of European Stock Exchanges (FESE).

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The Warsaw Stock Exchange (GPW) is the biggest exchange in Central and Eastern Europe and organises trade on one of Europe’s fastest growing capital markets. GPW operates a regulated equities and derivatives market, as well as NewConnect, an alternative trading platform for growing companies. GPW is also developing Catalyst, a market for corporate and municipal bond issuers. The Polish Power Exchange (TGE), a member of the GPW Group since February 2012, offers trade in electricity, natural gas, property rights and guarantees of origin and CO2 emission allowances. Since 9 November 2010, GPW is a publicly traded company listed on the Warsaw Stock Exchange. For more information, visit www.gpw.pl/en-home.

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