- The GPW Management Board has decided to introduce futures on the WIG.GAMES index and the macrosector indices WIG.MS-FIN, WIG.MS-BAS, WIG.MS-PET to trading on the exchange
- The new futures will be traded as of 30 September 2019
The Management Board of the Warsaw Stock Exchange (GPW) has decided to introduce new futures into trading on the exchange as of 30 September 2019. The underlying of the futures is the WIG.GAMES index (which groups computer game developer and publisher stocks), as well as the macrosector indices WIG.MS-FIN (banking, insurance, capital market, debt enforcement stocks), WIG.MS-BAS (energy, mining, commodities stocks) and WIG.MS-PET (fuel, gas, chemical stocks).
“Development of derivatives is one of GPW’s strategic initiatives. We want to attract new investors to this market segment. We are positive that the new futures on WIG.GAMES and macrosector indices will spark investors’ interest. We believe that investors will appreciate the opportunity of generating returns on relatively small changes of the underlying indices,” said Izabela Olszewska, Member of the GPW Management Board.
The macrosector indices and WIG.GAMES represent stocks in selected sectors sharing the same business specificity. Each index portfolio includes five stocks. The number of participating stocks is fixed. The stocks are selected depending on liquidity. The participation of the biggest stocks is capped at 40%. The stocks participating in the macrosector indices belong to the most liquid companies listed on GPW which participate in the index WIG20 or mWIG40 or sWIG80.
Three series of futures will be introduced into trading for each index, expiring in December 2019, March 2020, and June 2020. The multiplier (i.e., the value of one index point) is PLN 1 for WIG.GAMES futures and PLN 2 for WIG.MS-FIN, WIG.MS-BAS, and WIG.MS-PET futures. The multipliers of the new index futures are different than the multipliers of WIG20 and mWIG40 futures because the base value of the former indices is 10,000 points (vs. 1,000 points for WIG20 and mWIG40).
The Polish Financial Supervision Authority approved the Trading Rules of the WIG.GAMES and macrosector index futures in August 2019.
GPW’s offer of derivatives includes futures on the WIG20 and mWIG40 indices, stocks of 36 companies, the exchange rates EUR/PLN, USD/PLN, GBP/PLN and CHF/PLN, bonds, the WIBOR rate, and WIG20 options.