Implementation of the GPW Group Strategy in 2019

Strategic initiatives under #GPW2022 were under implementation in 2019. The GPW Group reinforced the human resources of the key projects, and it monitored, reviewed and updated the initiatives. Projects under the updated strategy continued in 2019. The implementation of the strategy is an on-going process. The initiatives under implementation are monitored and reported monthly and quarterly to the GPW Management Board and the Supervisory Board.

Some of the published strategic initiatives were completed in 2019 and some of them started realization:

• In March 2019, the Exchange Supervisory Board approved the launch of a new strategic initiatives, GPW Tech, which aims to develop a stand-alone technology company providing IT solutions for the capital market. The company GPW Tech was registered on 20 December 2019. The company will become the GPW Group’s technological arm.
• In 2019, GPW launched the development of a proprietary Trading Platform. In July 2019, the National Centre for Research and Development (NCBR) and the GPW signed an agreement concerning EU co-financing of research and development dedicated to the creation of GPW’s new trading platform. The project is estimated to cost approximately PLN 90 million, including PLN 30.28 million to be co-financed by NCBR. In September 2019, GPW opened a research and development centre in Łódź, where a team of experts will be working on the trading system.
• In August 2019, GPW launched development work dedicated to GPW Data. The National Centre for Research and Development (NCBR) granted EU co-financing to the GPW for its research and development work on GPW Data. The project budget is estimated at approximately PLN 8.3 million, of which PLN 4.2 million will be co-financed by NCBR. The project is expected to be rolled out in the latter half of 2021.
• In September 2019, the GPW Group Consortium signed a Memorandum concerning a partnership with Elewarr aiming to develop a network of authorised warehouses dedicated to storage of cereals traded on the Food Platform. The development of the Food Platform (Agricultural Commodity Market) is a key strategic project supporting the development of the agricultural sector in Poland. The development of an agricultural commodity exchange is a part of the government’s Strategy for Responsible Development and a key strategic initiative under #GPW2022. Trade in wheat will open as a pilot in March 2020.
• In 2019, the GPW Group focused on ESG initiatives (Environmental, Social and Governance). The segment is very relevant to the Group as global assets invested in products based on ESG indices are growing fast. To address this challenge, the new index WIG-ESG launched on 3 September 2019 has become the underlying of a passive fund managed by NN Investment Partners TFI.
• In September 2019, GPW launched GPW Growth – a comprehensive educational programme supporting growth and transition of SMEs. The project will boost manager competences of participating companies and help them define directions of growth. The GPW Growth Academy was launched as a part of the programme in September 2019.
• The GPW Ventures project established a new company on 29 November 2019 to operate as a private/passive investor in venture capital funds and a financial vehicle for the development of the Polish venture capital market, improved innovative edge of the market, and more IPOs on GPW. The company was registered as an alternative investment company with a share capital of PLN 3 million.
• In 2019, GPW opened a crowdfunding programme addressed to brokers engaged in crowdfunding and crowdinvesting as a first step in the development of a Private Market. GPW initiated an Analytical Support Programme and a technology support programme for brokers in 2019. The GPW Growth Academy, introduced in 2019, supports the development of small and mid-sized enterprises.
• GPW continued to expand its product offer in 2019. In collaboration with market partners, GPW introduced new ETFs, structured products, and the WIG-ESG index which addresses the growing needs of investors for companies which integrate sustainable development criteria in their growth. In pursuit of international initiatives, GPW and partners launched the CEE Plus index.