Warsaw to build securities lending activities 11 May 2011Warsaw Reporter: Ben Wilkie
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The Warsaw Stock Exchange is working with the Polish National Depository for Securities on a platform which would facilitate and promote securities lending.
Exchange president Ludwik Sobolewski said the launch would coincide with further developments of the exchange's existing futures market on the exchange.
"The turnover on the stock market this year should be satisfying as compared with last year," said Sobolewski. "There will not be many large privatization deals as in 2010. But the stock market is open longer, we are introducing a new strategy for the derivatives market and we are developing short sales. The market of IPOs is also flourishing.”
Poland has long been an innovator when it comes to securities lending and short selling. Last year, when many European and global economies were restricting short selling activities, Poland went against the grain and introduced naked short selling to the market. Results so far have shown no adverse effects.
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