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GPW extends fee reductions for market makers

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The Warsaw Stock Exchange (GPW) has extended the fee reduction for market makers of WIG20 futures until 30 September 2017.

Under the promotion, fees have been reduced by between 27 per cent and 41 per cent with respect to volume threshold reached by eligible entity.
 
From 15,000 to 35,000 contracts the fee is PLN0.50 per contract; and for over 35,000 contracts the fee is PLN0.40 per contract.
 
In addition, transaction fees executed by market makers in equities outside of WIG20 index will be charged at PLN0.00 until the end of September 2017.
 
The main objective of the fee reduction is to improve liquidity in small and mid-cap equities and to support local brokers. The turnover of non-WIG20 equities has increased substantially during the period when we have introduced the trading fee incentives, especially compared to the same period before the reduction.
 
According to GPW’s research, the fee cut has boosted the turnover of small and mid-cap stocks by market makers. Improved liquidity is an important driver of investors’ interest in such stocks. Improvement in liquidity has helped to narrow the spreads, also resulting in a reduction of transactions costs other than trading fees.
 
“To address the expectations of market participants and with a view of dynamic development of the Polish capital market, GPW extends the validity of reduced transaction fees for market makers of stocks and index futures. The extension of the fee reduction follows with GPW’s strategy of encouraging investor activity in the segment of small and mid-cap stocks and WIG20 futures. We hope that GPW’s active fee policy addressed to the market makers will bolster both turnover and liquidity to the advantage of all investors,” says Jacek Fotek, vice president of the management board of the Warsaw Stock Exchange.
 
The discounted fees for the market makers of non-WIG20 stocks and WIG20 futures will apply from 1 April to 30 September 2017.

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