- Business
- Gielda Papierów Wartościowych w Warszawie S.A. (GPW) operates Poland's largest stock exchange and serves as the parent of the Warsaw Stock Exchange Group, offering trading, listing, clearing, settlement, and information services across equities, derivatives, fixed-income securities, structured products, and commodities. The company maintains key markets including the flagship GPW Main Market for established domestic and international issuers; NewConnect for growth companies; Catalyst for bonds comprising corporate, municipal, treasury, mortgage, and other debt instruments; Treasury BondSpot Poland; and GlobalConnect for select foreign equities traded in PLN without issuer involvement; alongside commodity platforms managed through subsidiaries such as Towarowa Giełda Energii S.A. for electricity, natural gas, property rights certificates of origin, CO2 emission allowances, and agricultural products, plus InfoEngine S.A. for data services. GPW provides additional offerings like WIBID and WIBOR benchmark calculations, capital market education, market data dissemination, and technical operator services for energy balancing; it operates primarily in Poland with nearly 1,000 domestic and international issuers and recognition as Central and Eastern Europe's largest financial instruments exchange; founded in 1991 and headquartered in Warsaw at ul. Książęca 4. Recent developments feature the ongoing rollout of the proprietary GPW WATS trading platform, a modern Rust-based system enhancing speed, security, and modularity with integration tests and dress rehearsals completed by late 2025 ahead of full deployment; robust equity capital market activity with H1 2025 transactions totaling PLN 10.9 billion including IPOs for Diagnostyka and Arlen; new listings such as Żabka Group's PLN 1 billion sustainable bonds, Allegro's additional bonds, municipal issues from Skierniewice and Świętochłowice, four NewConnect entrants including Kolejkowo and MAZOP Group, three ETFs on the Main Market, and five Nordic stocks (Carlsberg, H&M, Novo Nordisk, Vestas, Volvo) on GlobalConnect; alongside record Q2 2025 revenue, FTSE Russell's 2018 classification of Poland as a developed market, and NC Focus segment for 39 high-potential NewConnect firms.