By pursuing your navigation on our website, you allow us to place cookies on your device. These cookies are set in order to secure your browsing, improve your user experience and enable us to compile statistics. For further information, please report to our cookie policy.
Market Passport for Banks and Brokers
Market information
Supporting you
Key market information
-
Local currencyPolish
Zloty (PLN) -
2017 GDPUSD
525bn -
Time zoneGMT
+1 hour -
Numbering
systemISIN
-
Main stock
exchange indexWIG 20
Key market figures
448 – ASO (Catalyst)
Local market infrastructures
| Equities | Corporate bonds | Government bonds | |
|---|---|---|---|
| Trading | WSE | WSE/Catalyst | WSE/BondSpot |
| Clearing | KDPW_CCP | KDPW_CCP | KDPW_CCP |
| Settlement and custody | KDPW | KDPW | KDPW |
| Cash leg | NBP | NBP | NBP |
Local market authorities and regulators
The Polish Financial Supervision Authority (KNF) is the sole market regulator. It supervises and monitors the performance of securities companies, insurance companies, the Warsaw Stock Exchange, the National Depository for Securities (KDPW), investment funds, pension funds, banks, financial and clearing institutions.
Market practices (ALL TIMES ARE LOCAL)
PLN 8 for transactions up to PLN 400,000.
PLN 100 for transaction above PLN 400,000.
In practice, not all providers can manage the CSD tolerance limit. BNP Paribas systems can manage it: we usually offer a PLN 100 (EUR 25) fixed limit for transaction value discrepancy to our clients.
Settlement suspension penalty: 0.2% per day of the value of the transaction (not less than PLN 500 and not more than PLN 10,000).
On settlement date (SD)+4, KDPW_CCP has the right to buy-in securities on participants’ behalf using collateral deposits placed by the clearing member. If the buy-in of shares for delivery is not possible, the buyer will be paid an amount based on the value of the shares to be delivered on settlement date and the cost of incurred losses. The failing seller will reimburse all costs, including PLN 1,000 charged by KDPW_CCP for initiating the procedure.
Something interesting to know before you visit us in Poland
The Polish-born astronomer Nicolaus Copernicus is considered to be the first person to propose the theory that the earth was not the centre of the universe – in the early 16th century!
BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.
Supporting you
BNP Paribas Securities Services in Poland
BNP Paribas continues to grow in Poland, while other players are scaling down their presence. After our latest acquisitions, the BNP Paribas Group is one of the top six banking groups in Poland.
Our main services
Core
We offer local clearing and custody to domestic and foreign institutions. Our core services include settlement, on-exchange clearing, safekeeping, corporate actions, proxy services, cash and collateral management.
Market-specific
- Full and directional netting: we settle, gross or net, our clients’ executions, allowing them to benefit from the lowest possible CSD and CCP fees (respectively KDPW and KDWP_CCP)
- Issuing, paying and settlement agent services
- Depobank for local asset managers and fund dealing services
- Corporate trust services for issuers
What makes us different
- Reduced timeframe of tax reclaim procedure (from 4 months to 5 weeks) through streamlined connectivity with the local tax authorities
- Active participation in local regulatory committees and advocacy on clients’ behalf
- At the forefront of any market changes: we were the first with omnibus accounts, auto pre-matching service and the full netting offer
Selected market recognition
- Global Custodian Agent Banks in Emerging Markets Survey (2017): Global, Market and Category Outperformer
- Global Investor Investment Excellence Awards (2018): Sub-Custody Survey Winner Multi-market EMEA for Poland – unweighted
- Award from KDPW, the Polish CSD, for providing netting in accordance with the best market practice (2016)
A sound partner
The BNP Paribas Group is a major player in Poland, with nine entities including retail banking, leasing, real estate and insurance. The BNP Paribas Securities Services branch in Poland, has been operating in the Polish market since 2008 and employs more than 900 securities services specialists.
Contact
For more information, please contact your relationship manager or
Andrzej Szadkowski, Head of Location
andrzej.szadkowski@bnpparibas.com
Something interesting to know before you visit us in Poland
The Polish-born astronomer Nicolaus Copernicus is considered to be the first person to propose the theory that the earth was not the centre of the universe – in the early 16th century!