Polish Regulator approved changes in WSE ATS regulations

Polish Regulator approved changes in WSE ATS regulations

On 21 September 2009, the Polish Financial Supervision Authority approved changes in WSE Alternative Trading System Regulations which will allow to launch the unregulated Catalyst bond markets on 6 October 2009. The regulated Catalyst markets will open on 30 September 2009.

CATALYST groups four markets organized by the WSE and BondSpot (former MTS-CeTO). CATALYST will combine in one place regulated and alternative trading systems for wholesale and retail investors. The system will facilitate and optimize issuing of corporate bonds by companies and municipal bonds by local government bodies. From regulatory, organisational and technical perspectives it was adapted to match the needs of issuers placing issues of various sizes and of various nature.

Effective from 30 September 2009 the issuers and investors will have at their disposal platforms operated as regulated markets (exchange and off-exchange), along with the issue placement and issue authorization (registration) mechanisms supported by the WSE’s IT systems. As of 6 October 2009, WSE and BondSpot will launch exchange-regulated markets (operating in the form of Alternative Trading Systems).

Launching CATALYST is a significant step in the development of the Polish market in municipal and corporate bonds. It will enable corporate and municipal issuers to raise additional funds for their development and to execute their investment plans in a modern and safe manner. The setting up of a new, organised market will provide not only a strong impetus for the development of the Polish capital market, but will also enhance the competitiveness of the Polish economy overall.

To learn more about Catalyst, we invite you to visit www.wsecatalyst.eu or to contact us directly.