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The Warsaw Voice » Business » March 31, 2011
Business & Economy
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Marking 20 Years of WSE
March 31, 2011   
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Radosław Olszewski, president of DM BO¦ SA brokerage: The 20th anniversary of the Warsaw Stock Exchange this year provides an opportunity to sum up the first and probably most important stage in the development of a modern economy in Poland. The process of building the capital market from scratch in this country symbolically ended in 2010 with the listing of the Warsaw Stock Exchange company on its own trading floor.

Summing up the first 20 years of the WSE, we feel satisfied with its undoubted success. A combination of several factors has contributed to the good position of the WSE. One of them is certainly stable management open to new ideas and solutions. The development of the exchange has been made possible by constant efforts to improve its services, both in terms of the number of available instruments and infrastructure. These efforts have in part been a response to investors’ expectations as well as an attempt to anticipate these expectations and introduce international stock market standards in Poland. Another important factor is a positive market environment—the dynamic development of the Polish economy, good relations with brokerages and other market players, as well as the substantial activity of businesspeople, who eagerly took advantage of the potential offered by the stock market. The business acumen of the Polish people and their energy and readiness to act—on part of both companies and individual investors—have largely contributed to the success of the Warsaw Stock Exchange. All these factors have combined to make the Warsaw Stock Exchange the largest and best developed trading floor in this part of Europe.

The development of the institution I manage has been closely related to the changes that have taken place on the WSE. At DM BO¦ brokerage, we have tried to meet the needs of the market and investors and to take full advantage of the new opportunities that were introduced on the Warsaw Stock Exchange in consecutive years. From our perspective, it is possible to identify several defining moments in the development of the WSE. One of them was the launch, in 1998, of the futures market, where we have led the way for several years. Another milestone event was the launch, in 2000, of the new transaction system called Warset, which significantly upgraded the process of placing orders. For us this was a breakthrough moment in the development of online services, which we pioneered in Poland as early as 1996. Today roughly 90 percent of the orders placed with our office are generated through this distribution channel.

Among the latest events on the Warsaw Stock Exchange, an undoubted success was the launch of the NewConnect alternative market, which has gained a large group of supporters among issuers, individual customers, and most recently among institutions. In the near future, the Warsaw Stock Exchange and all market participants will face new challenges, the most important of which will be the introduction of a new transaction system called UTP. This challenge means new quality for the market linked with the development of modern investment methods, such as algorithmic trading. At DM BO¦, we already provide our customers with the tools to become familiar with this method of investing.

On its 20th birthday, I wish the Warsaw Stock Exchange and its managers success in meeting the challenges facing the exchange and further dynamic growth in the years ahead.
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