The new chief executive of the Warsaw Stock Exchange has
said he will put derivatives at the heart of his strategy as
the Polish market finalises the details of a new plan to be
announced at the end of October.
Pawel Tamborski, a former under-secretary at the Polish
Treasury and banker at Unicredit, took over as chief executive
of the Polish bourse in late July and immediately started a
strategic review, the results of which will be announced on
October 30 when the exchange reports its third quarter
"Commodities and derivatives are two pillars of our future
growth," Tamborski told FOW.
"Currently, our Group offers trading in electricity and
natural gas spot and forward contacts and we plan to open
trading in cash-settled electricity futures in due course."
The WSE chief executive added: "Poland is a coal mining
country, so it is natural for us to explore opportunities to
trade coal as a commodity. This market could play an important
role in our Group’s future strategy - but this is
just an idea at this stage."
A push into commodities would help diversify the
group’s contract mix which is currently heavily
focused on financial products.
The exchange offers a range of futures products including
contracts based on its own flagship share index, individual
stocks, a range of currency pairs, interest rates and
The exchange’s WIG20 index future is its
most-traded product followed by its US dollar future, its total
stock future and the WIG20 index option, according to FOW
Tamborski said he wants to build on this success.
"In the derivatives segment, we are also looking at interest
rate futures and equity-based derivatives; we will present
results of the review of our strategy at the conference
announcing our quarterly results at the end of October."
The WSE said in September it had pulled the plug on its
planned merger with Vienna’s CEE Stock
The exchange said in an official statement: "The WSE
management board is to focus on the Polish capital market and
to fully leverage its potential; therefore, WSE is not
considering a capital alliance with CCE Stock Exchange Group at
The WSE added: "The current goals of WSE include organic
growth, including development of international business,
increasing attractiveness to market participants and enhancing
Speaking to FOW after the official statement, Tamborski
added: "I believe that there are still plenty of opportunities,
a lot of potential for organic growth at the Warsaw Stock
Exchange. We want to strengthen WSE’s regional
role by focusing on the pillars of our business.
"We would like to work with other regional exchanges on
promoting CEE region. In the future we might consider all types
of cooperation with Vienna."
For more on the WSE see FOW
Derivatives World CEE.