Important capital market institutions
Polish Financial Supervision Authority
The Polish Financial Supervision Authority supervises the capital market, insurance and pensions as well as, in supplementary capacity, the financial conglomerates comprising of supervised entities. The purpose of financial market supervision is to ensure the proper functioning of this market, its stability, security and transparency, trust in the financial market, as well as protecting the interests of market participants. From January 1, 2008, financial supervision exercised by the Polish Financial Supervision Authority will also include banking supervision and supervision of electronic money institutions currently exercised by the Polish Banking Supervision Authority. The PFSA is supervised by the Prime Minister.
Warsaw Stock Exchange S.A.
The task of the WSE is to organize trading in financial instruments. The exchange ensures that buyer and seller offers are gathered in one place and time in order to set the exchange course and execute transactions. The trading system on the Warsaw Stock Exchange is characterized by the fact that the rates of individual financial instruments are set based on buyer and seller orders, hence it is called an order-driven market. This means that in order to determine the price of an instrument, a list of orders containing purchase and sale orders is prepared. The matching of these orders is carried out according to strictly defined rules, while the transaction is carried out during trading sessions. To improve the liquidity of listed instruments, exchange members or other financial institutions may act as a market maker, submitting (based on an appropriate agreement with the Exchange) orders to buy or sell a given instrument on their own account. The subject of trade on the Stock Exchange are securities: shares, bonds, subscription rights, rights to shares, investment certificates and derivatives: futures, options, index units. Stock exchange sessions take place from Monday to Friday from 8.35 to 17.35
NewConnect is a market organized and operated by the Warsaw Stock Exchange, operating as an alternative trading system. It is a market intended primarily for young, dynamically developing companies operating in the area of new technologies: IT, electronic media, biotechnolgy, alternative energy, etc. The subject of trade on NewConnect may be shares, rights to shares (PDAs), subscription rights, deposit receipts and other equity securities.
Association of Stock Exchange Issuers
The Association of Stock Exchange Issuers is a local government organization of companies listed on the Stock Exchange, to which membership is voluntary. The goal of the Association’s operation is to enable the cooperation of issuers for the development of civic awareness and responsibility, the evolution of Polish economic and social life towards creating a market economy and improving the organizational capacity of its members, as well as deepening understanding and cooperation between people. The association refers to the tradition of economic activity, resourcefulness, economy and rationality in action. The Association undertakes works for the development of the capital market through educational, promotional and lobbying activities. It works to integrate the environment of securities issuers, undertaking training and seminars; represents the common interest of this group of entities. The basic method of the Association’s work is to convey to the market regulators the expectations of issuers regarding the improvement of the functioning of the securities market, as well as formulating proposals for changes in legal regulations increasing the attractiveness of the stock exchange as a place of raising capital for business entities. SEG is a member of the European Association of Listed Companies (EALIC). The President of SEG is a member of the EALIC Management Board. The SEG representative is a permanent member of the EALIC Legal Committee, where opinions on draft legal acts prepared at the European Union forum are reviewed.
Association of Individual Investors
The Association of Individual Investors is an organization that aims to provide comprehensive assistance to Individual Investors in all areas of stock market investments, from legal and educational assistance to numerous discounts and stock market analyzes. As a result, our business makes the quality of our capital market grow, and our members can earn more than before. Any natural or legal person can become a member of our organization.
Association of Brokers and Advisers
The Association of Brokers and Advisers is an organization of persons holding state licenses of brokers or advisers. It operates on the basis of the Law on associations and is based in the Act on capital market supervision – it is a representative organization for securities brokers and investment advisers.