Core business of WSE associates
| Associate | Business profile |
|---|---|
| Krajowy Depozyt Papierów Wartościowych S.A. (Central Securities Depository of Poland, KDPW) | Provides settlement of transactions on the regulated market and in ATS[1], operates a central securities depository, provides services to issuers; since 2012, operates a trade repository (KDPW_TR) and is authorised to issue LEI codes. |
|
KDPW CCP S.A. (a subsidiary of KDPW) |
Provides clearing of transactions on markets operated by WSE and BondSpot, manages clearing risk of such transactions; since December 2012, provides clearing and guarantees of clearing for OTC derivatives (OTC_CLEARING). |
| Aquis Exchange Ltd. | Organises a pan-European market in stocks as a multilateral trading facility (MTF); at the end of 2014, the platform offered trade in stocks of 407 companies in 12 countries. |
| Centrum Giełdowe S.A. | Manages, administers and operates the “Centrum Giełdowe” office complex at Książęca 4 in Warsaw and leases office space in the complex. |
[1] Alternative Trading System.
In addition, WSE holds 10% of the Ukrainian stock exchange INNEX PJSC and 1.3% of the Romanian stock exchange S.C. SIBEX – Sibiu Stock Exchange S.A. Furthermore, WSE operates a representative office in Kiev and has a permanent representative in London.
The Group has no branches or ventures.
In 2015, the structure of the WSE Group is expected to change following the decision of the WSE Management Board to concentrate all commodity market assets of the WSE Group in the PolPX Group and to sell 100% of the OTC commodity market subsidiary WSEInfoEngine S.A. to the Polish Power Exchange. The sale of WSEInfoEngine is expected to be closed in the first half of 2015. The decision to sell WSEInfoEngine and consequently to recognise goodwill impairment losses of PLN 1.3 million was based on the belief of the WSE Management Board that PolPX is in a position to unlock the potential of the company.
In addition, the Exchange Management Board is considering to sell WSE’s subsidiary Instytut Rynku Kapitałowego – WSE Research S.A. (IRK). The WSE Group is working to close the sale of IRK in the first half of 2015.
Furthermore, in February 2015, WSE signed two conditional agreements to buy 73,530 shares of the subsidiary BondSpot, representing 0.74% of the share capital of the Company, for PLN 306,620. Both transactions are conditional on the approval of the Polish Financial Supervision Authority for WSE to buy the shares.