POLAND: GPW Plans to Launch New Market Global Connect

Monday October 10 2022

On 7^th October 2022, the Warsaw Stock Exchange (GPW) plans to launch a market for shares of foreign companies, Global Connect, on 4^th November 2022. 

A new market will be launched on GPW to list shares introduced to trading by Introducing Market Makers without consent of the issuer. With the new market, investors will be able to buy and sell shares of the largest and best-known foreign companies on GPW 

In the initial phase since its launch, Global Connect will list shares of five European companies plans to gradually expand the offering. US shares are also expected to be listed at a later stage. The selection of companies to be listed on Global Connect will be at the discretion of the Introducing Market Makers. They will also be responsible for ensuring liquidity of the introduced shares. The pace of expansion of the Global Connect offer will depend on investor interest and the readiness of the Market Makers. 

The new market will operate in the GPW Alternative Trading System (ATS). Trading on the market will take place during GPW trading sessions, Monday to Friday between 09:05 and 17:05. Shares of foreign companies will be quoted in Polish zloty (PLN). Investors can place orders through an existing or new account with any domestic brokerage firm which includes Global Connect in its offering. Fees charged to exchange members operating on the market will be the same as those charged on the GPW Main Market. 

Shares of companies admitted to trading on Global Connect will carry the same ISIN codes (security identifiers) as those available on their home markets, and transactions will be settled in the Central Securities Depository of Poland (KDPW). 

Holders of shares listed on Global Connect will be entitled to benefits including dividends. However, the terms of such benefits depend on two factors: first, how they are processed by the foreign depository through which the foreign shares come to the Polish market; and second, how domestic brokers participating in Global Connect handle such events. 

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