The Warsaw Stock Exchange (GPW) and the European Bank for Reconstruction and Development (EBRD) are implementing a joint project to prepare a benchmarking report of the determinants that impact the further development of the Polish capital market and GPW compared with other markets.
The report findings will be used in discussions on the Capital Markets Union initiative and for policy dialogue with institutions of the regulatory and market environment. The objective is to introduce the necessary legislative amendments and to provide support measures for the further development of the local capital market.
“In this age of free flow of capital and a fast changing market environment, we have to intensify measures which enhance the competitiveness of the Polish capital market. We should harmonise our legislation and standards with the more mature markets in order to enable the application of the best global practices. I believe that the conclusions of the report will inform a substantive debate and contribute to specific measures, benefiting the Polish economy and all participants of the local capital market,” said Paweł Tamborski, President of the Management Board of the Warsaw Stock Exchange.
The experience of the EBRD in delivering similar projects will ensure the quality and impartiality of the exercise. GPW and the EBRD will jointly fund the costs of preparation of the report to be compiled by a consulting firm with experience in capital markets and a track record of cooperation with global exchanges.
“We are very pleased to partner with the GPW in this important work. This assignment is fully aligned with the objectives of the Bank’s Poland country strategy, which defines the development of capital markets as the central plank of the financial institutions agenda. In addition, the project helps the Bank to deliver on the ambitions of its Local Currency and Capital Markets Developments Initiative to support the development of market infrastructure,” said Grzegorz Zielinski, EBRD’s Country Director for Poland. The specific objectives of the project include:
The Notification for this project, Integrated Capital Markets Development Advice – Benchmarking exercise with Warsaw Stock Exchange, has been published and can now be accessed on the EBRD website at: http://www.ebrd.com/work-with-us/procurement/pn-48172.html.
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