Product offer

Business lines and product offer of the GPW Group

Business lines

GPW Group and associates

GPW Group and associates

The Warsaw Stock Exchange Group was comprised of the parent entity and four consolidated subsidiaries as at 31 December 2017. GPW holds a stake in three associates.

Core business of GPW Group companies

SubsidiaryBusiness profile
BondSpot S.A.Operates trade in Treasury and non-Treasury debt securities. Treasury BondSpot Poland, operated by BondSpot, is the electronic wholesale market in Treasury securities authorised by the Ministry of Finance and a part of the Treasury Securities Dealers system in Poland.
Towarowa Giełda Energii S.A. (TGE)The only licensed commodity exchange in Poland, operates trade in electricity, natural gas, emission allowances, property rights in certificates of origin of electricity, certificates of origin of biogas, energy efficiency certificates; operates the Register of Certificates of Origin of electricity generated from renewable energy sources, high-efficiency cogeneration and agricultural biogas as well as energy efficiency certificates; operates the Register of Guarantees of Origin; operates the Financial Instruments Market.
Izba Rozliczeniowa Giełd Towarowych S.A. (IRGiT, a subsidiary of TGE)Provides clearing services for all markets operated by TGE. Authorised as a clearing house and settlement institution.
InfoEngine S.A. (a subsidiary of TGE)Operates an electronic OTC commodity trading platform, provides services to electricity market participants.
GPW Benchmark S.A.Organiser and administrator of WIBID and WIBOR fixings, the main money market index used for the valuation of most bank loans, derivatives and debt instruments issued in PLN.
Instytut Analiz i Ratingu S.A. (IAiR)It is planning to launch as a rating and research provider.

In addition, GPW holds 19.98% of InfoStrefa S.A. (formerly Instytut Rynku Kapitałowego WSE Research S.A.), 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, GPW operates a representative office in London. The parent entity has no branches or establishments.