Member Exchanges

Warsaw Stock Exchange

www.gpw.pl
Tel : 48.22 628 3232
Fax : 48.22 628 1754

 

Representatives

President and CEO : Mr. Ludwik Sobolewski

Head of Index and Statistics Department : Mr. Tomasz Wisniewski

2010 holidays

January - 1  |  April - 2, 5  |  May - 3  |  June - 3  |  November - 1, 11  |  December - 24

  • * - Half trading day (Short trading day)   |
  • ** - To replace a public holiday that falls on a Sunday   |
  • *** - Close early   |
  • **** - Will close at 1.00pm
  • ο - Subject to the appearence of the moon   |
  • † - Subject to change   |
  • (I) - Weekends in Iran : Every Thursday & Friday
  • (II) - Weekends in Israel : Every Friday & Saturday   |
  • (III) - In Malaysia, Saturday & Sunday are non-trading days

Types of Securities TradedName of Trading Systems (cash and derivatives)Trading Hours
SharesScreen-based08:00 - 16:35
Bonds :1. Continuous trading  
treasury 
corporate 
Subscription rights2. Electronic call auction (single price auction with two auctions)  
Allotment certificates  
Futures on :  
indices(WIG20, mWIG40)  
single stocks  
foreign exchange  
Options on :  
index  
Structured products on bonds and certificates  

Supervisory Body

Polish Financial Supervision Authority (KNF)

Name of Clearing & Settlement Organization

National Depository for Securities

Settlement Cycle

DVP
T + 3
T + 2 for bonds
For derivatives :
T + 0 clearing
T + 1 settlement

Name of Central Securities Depository

National Depository for Securities

Commissions on Transactions levied by Exchange

http://www.gpw.com.pl/zrodla/e_ogieldzie/regulacje/rules_wse.pdf 
From each party of transaction

On value of turnover :

between 0,033 % and 0,010% for shares or allotment certificates
between 0,020% and 0,010% on value of monthly bond turnover
0,025 % for other securities and financial instruments,

except for :

futures transactions -
PLN 1,70 for each futures contract on index, single stocks, foreign exchange

options transactions -
0,60 % of the transaction value, but not less than PLN 0.20 for each option and not more than PLN 1.2 for each option

Taxes on Dividends, Interests

Residents :

Dividends : 19 %
Interest : 19 %
Capital gains : 19 %
both for individuals and legal persons.

Non-Residents :

Usually based on treaties on the avoidance of
double taxation under the condition of presenting
residence certificate,
otherwise : 19 %
 

2007 Share ownership thresholds (%)

Share ownership over 5% must be declared (if share ownership is higher than 10%, every 2% change, must be decmared, if share ownership is higher than 33%, every 1% change must be declared)

Short selling (Yes / No)

Yes

Short selling conditions (if any)

Value of shares admitted to trading is not less than EUR 100 mil. Additionally one of below listed conditions must be fulfilled:
- average daily turnover value not less than EUR 250 thous.
-average number of trades not less than 500
Figures are revised quarterly.