OREANDA-NEWS. January 11, 2008. Remote Members of the WSE – foreign brokers with direct access to the WSE transaction system – are increasingly active on our market: the value of trading by Remote Members was over PLN 23.5 billion in 2007, more than triple the 2006 figure.

Foreign brokerage houses are increasingly interested in WSE membership, proving the growing importance of our market in Europe and the interest of foreign investors in the Warsaw market.

In 2006, the value of trading in shares by the WSE Remote Members was PLN 6.9 billion; the monthly value of trading was over PLN 1 billion only once. In 2007, the value of trading in shares by the WSE Remote Members was as high as PLN 23.5 billion; the monthly value of trading was over PLN 2 billion in most months.

The value of trading by the WSE Remote Members on average represented around 5 percent of the total value of trading in the WSE. The proportion was even higher, at 7-8 percent, in November and December, compared to only 2 percent in 2006.

In 2007, foreign brokers were increasingly active on the futures contracts and options market. While foreign WSE Members were practically absent from this market segment in 2006, they generated on average 2-3 percent of the volume of trading in these instruments in 2007.

In 2007, eight foreign companies became Remote Members of the WSE including: Societe Generale (France), BNP Paribas Arbitrage (France), Cashline Securities (Hungary), Nordnet Bank (Sweden), Cyrrus (Czech Republic), NeoNet Securities (Sweden), Hansapank (Estonia), DekaBank Girozentrale (Germany).

Currently, the WSE has 17 Remote Members from Austria, the Czech Republic, Estonia, France, Germany, Sweden, Hungary, and the UK.

Remote membership gives foreign brokers the opportunity of direct access to the WSE system without physical presence in Poland and without the service of local intermediaries.