Warsaw Stock Exchange (WSE) will be turning its attention to post-trade services in its new strategy, set to be announced later this month.
In July, the Polish national exchange appointed a new board, headed up by new CEO and former under-secretary of the Ministry of the Treasury in Poland, Pawel Tamborski.
Full details of the new strategic direction of the exchange are set to be announced as part of its third quarter results, and Tamborski said the board wants to further develop capital markets in the country.
"WSE is entering its next stage of development, since we listed, we've focused on building capital markets within Poland and aiding the government's privatisation program, but as this winds down, we will increasingly focus on getting privately owned companies onto the market, both within Poland and across the region," he said.
The exchange confirmed it has dropped talks of a potential partnership or merger with Vienna-headquartered CEE Stock Exchange Group, but has not ruled out further cooperation in the future.
Of particular focus in its new strategy will be the post-trade environment, which has become a major business line for other exchange groups based in Western Europe and the US.
"Post-trade is becoming much more important as part of our business today and a big part of our new strategy. We will be working closely with our national securities depository and clearing house to ensure we are able to efficiencies right across the trade cycle," Tamborski explained.
"There is a lot of competition in post-trade right now, and certainly you need to ask if there is room for five providers in CEE, is there even room for one? However, Poland has proved a popular place for financial firms to outsource, not just because of the cost but also the quality of service provided and this could benefit the provision of post-trade services in Poland."
WSE’s third quarter results are due to be announced on 30 October.