Warsaw Stock Exchange largest in Eastern Europe: President Duda

Addressing a session marking the 30th anniversary of the Warsaw Stock Exchange, President Andrzej Duda said that it was now the largest one in Eastern Europe.

"I want WSE to become ever stronger and ever larger. I want WSE to become one of the stock exchanges which are of importance not only in Europe but also in the world," he stated.

The president said that, on that first day, "five companies were being traded, the turnover reached around, what is today, PLN 2,000 (EUR 444). It was around USD 2,000 back then."

“Now, the WSE has over 800 companies listed and their value exceeds PLN 1.135 trillion (EUR 252 bn)," President Duda said.

Marek Dietl, the CEO of the Warsaw Stock Exchange, has praised the rapid progress the exchange has made since it opened for business on April 16, 1991.

"It took over 50 years for either Israel or (South) Korea to join a group of developed markets. And WSE managed to do this in 27 years as it joined the group in 2018," Mr Dietl said, adding that it had come “a long way in a short time”.

"And let us remember that our starting point was terrible, namely, raging inflation, a double-digit GDP drop in 1990, and a lack of both capital and private companies," the CEO said.

Referring to the current situation, Marek Dietl said that WSE was seeking its place in new mega-trends.

"We plan further strong investments in technological products and new trading platforms, which will make it possible for us to trade in smaller companies. We plan to enter new areas, just like other stock exchanges do," he stated, adding that despite the coronavirus pandemic all plans would take longer, he is full of hopes that WSE would succeed.