POLAND: GPW Updates Alert List and Lower Liquidity Zone on the Main Market

Wednesday April 1 2020

On 30^th March 2020, the Warsaw Stock Exchange (GPW) updated the Alert List and the Lower Liquidity Zone on the Main Market in Equities under the New Rules. The objective of the modifications is to improve the rules applicable to stocks trading at a low liquidity level and penny stocks and to align the rules with the new tick sizes on the equity market.

According to the new rules, the GPW Alert List includes those stocks whose average price understood as the arithmetic mean of closing prices in the last three calendar months is less than PLN 0.10 (previously: PLN 0.50). Trading in stocks put on the Alert List for at least a sixth consecutive time (including previous classifications under the previous rules) will no longer be suspended. Such stocks will be listed in the single-price auction system with one fixing per week (on Wednesdays).

As of 2020, stocks are put in the Lower Liquidity Zone if the number of transactions in a stock is less than five transactions per trading session at more than one half of all trading sessions in the last three calendar months preceding the periodic verification (excluding the last three trading days of that month of the verification).

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