Bank of America Merrill Lynch has been approved as a remote member of the Warsaw Stock Exchange by the exchange’s management board.
Remote membership means the brokerage will be able to provide more efficient access to the Polish equity market for its international client base, according to Mark Lear, managing director and head of emerging market equity cash trading. “We are proud to strengthen our involvement in the Polish market despite the challenging global environment,” he commented.
The WSE’s 47 members include 29 local firms and 18 remote members operating from countries including Austria, Czech Republic, Estonia, France, Germany, Hungary, Slovakia, Sweden and the UK.
Earlier this month, the Polish treasury ministry said it had received bids for a 75% stake in the exchange from Deutsche Boerse, the London Stock Exchange, Nasdaq OMX and NYSE Euronext.