The Warsaw Stock Exchange (GPW) announced this week it has been certified by the US Commodity Futures Trading Commission (CFTC), which allows it to offer WIG20 futures contracts to investors in the USA.
“The Exchange initiated the certification process three years ago. The GPW Management Board has recently been advocating for the certification, among others by meeting with the CFTC Chairman Timothy Massad. The certification confirms the importance of WIG20 on the Polish market as the key underlying index for derivatives,” said Grzegorz Zawada, Vice President of the GPW Management Board.
The certification puts GPW among exchanges such as Eurex, OMX and NYSE whose derivatives are CFTC certified.
“The certification will help to attract a new group of investors to the market, which should bolster the activity in the segment. While the opening of WIG20 contracts to US investors is not a guarantee that the volumes will grow, yet we believe that the certification combined with increased volatility will be a sufficient incentive to invest in these instruments. This is in line with the goals of the updated strategy GPW.2020,” said Grzegorz Zawada.
In the next step, the GPW states it will apply for certification of index options under the jurisdiction of the US Securities and Exchange Commission.
The WIG20 futures contracts have been offered by GPW since 1998.
To view the official announcement, click here.