The Warsaw bourse said in a statement that as an affiliate, it will exchange information and statistics with the international trade association, as well as participate in some events held by the WFE.
The partnership will serve as an interim step towards full membership of the federation, the WSE added.
Marek Dietl, CEO of the Warsaw Stock Exchange (WSE), welcomed its new status, saying that the World Federation of Exchanges "offers great opportunities to build business relations with our colleagues from other exchanges and be part of an organisation, and policy dialogue, that shapes the future of our industry."
The WSE also said that in order to become an affiliate, “an applicant must have a significant influence on the development of the capital market in its country or region.”
Moreover, the local financial market regulator must belong to the International Organisation of Securities Commissions (IOSCO). The Polish regulator has been a member of that group since 1991.
The London-based World Federation of Exchanges has also accepted the Warsaw bourse’s application to begin the procedure of becoming a full member of the federation, according to the statement.
The WSE's Dietl said: “What we bring into this community is the great success story of the Polish capital market which joined the world’s developed markets twice as fast as the markets in South Korea or Israel.”
Established in 1991, the Warsaw Stock Exchange is the biggest bourse in Central and Eastern Europe, with 430 companies listed on its main market.
(pm/gs)
Source: PAP, gpw.pl