The Warsaw Stock Exchange (WSE) is to migrate its cash and derivatives markets to NYSE Technologies' Universal Trading Platform (UTP) as part of a long-term strategic partnership with global exchange group NYSE Euronext.
As part of the agreement, the two parties have also committed to exploring “new trading, market data and business development initiatives serving investors and issuers of a wide range of financial instruments”. As well as delivering the UTP, NYSE Technologies, the commercial technology unit of NYSE Euronext, will work with WSE to develop new IT-based opportunities in Poland and the central and eastern Europe region that build on the distribution capabilities of NYSE's SFTI connectivity network.
WSE chief executive Ludwik Sobolewski said the deal was a significant step in the exchange's international development. “We are at the very beginning with regards to the strategic partnership, but this beginning comes at a very appropriate moment, complementing other, already much more advanced endeavours,” he said.
NYSE Euronext was one several large exchange groups thought to be in the running to acquire the Polish treasury's stake in WSE in 2009. As no purchase could be agreed, the Warsaw is expected to list its shares in Q4 2010.
“WSE's decision to use the NYSE Euronext Universal Trading Platform enables our partner to take full advantage of our investment in innovative exchange solutions and communications infrastructure,” said Dominique Cerutti, president and deputy chief executive officer, NYSE Euronext.