The Wocu, a real time world currency unit quotation, is
owned and distributed by London-based WDX Organisation. It is
made up of a basket of the currencies of the
world’s top 20 nations as determined by the IMF
measures of GDP. As the Wocu’s constituent
currencies are weighted in line with GDP, it is generally less
volatile than traditional currency pairs, so it is intended to
balance currency risk.
Wocu derivatives are expected to enable financial market
participants to use the Wocu. The Wocu is expected to
complement the listings of other financial and commodity
instruments on the Polish Futures Market.
"We are the first stock exchange worldwide to launch Wocu
derivatives, which we believe will be of special interest to
Polish companies doing business in several international
markets and that thus have to hedge several currency risks,"
said Michal Jerzak, president of the WGT's board.
The contract specifications will be announced at a later
date, but it is expected that there will be a heavy leaning
towards foreign exchange products that will complement the
commodities products already offered on the Warsaw Commodity
The Polish Futures Market is waiting to receive
recognised market status, which is pending with the Polish
Regulatory Authority and may be granted in the next two to
three months. The WDX’s currency index algorithm
has been licensed to it.
WGT, the operator of one of the largest exchange-based spot
commodity markets in Europe, recently set up the
privately-owned Polish Futures Market exchange to take
advantage of the changes to Polish financial services
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