Gielda Papierów Wartosciowych w Warszawie (GPW) Strategy update summary

Strategic context and regulatory environment

• Emphasis on deregulation and adaptation of European regulations to foster capital market growth, referencing the Draghi report and upcoming EU initiatives.

• Polish authorities highlight the importance of aligning domestic and EU regulations, especially in the context of Poland's EU presidency and new technology investments.

• The stock exchange is positioned as both a public company and a key market infrastructure, with a dual mandate to grow the capital market and deliver shareholder value.

• Active participation in shaping EU regulations and harmonization across regional exchanges to support market development.

Strategic priorities and mission

• Focus on capital market development and building shareholder and stakeholder value through modern technology and sustainable practices.

• Aims to increase the capital market's role in financing the economy and support innovative activities.

• Emphasizes cost discipline, trading security, and long-term investment.

Market conditions and opportunities

• Market capitalization to GDP in Poland fell from 35% in 2014 to 25% in 2023, indicating a declining role in economic growth.

• Small pool of domestic institutional capital and high household reliance on cash and deposits limit market growth.

• Opportunities include reallocating household savings, improving corporate governance, and expanding pension products.