Polish market links increase with TMX Atrium connection
Poland’s Warsaw Stock Exchange has been added to TMX Atrium’s trading infrastructure, a week after the exchange switched to its new Universal Trading Platform system, supplied by NYSE Technologies.
The link to TMX Atrium is the latest step in Warsaw’s growing engagement with the international markets. Based in Luxembourg, Atrium is an infrastructure provider acquired by Canadian exchange group TMX in 2011. The TMX Atrium link carries both market data and order flow.
Last week’s migration to the UTP system was a big moment for the exchange; UTP is the same platform used by NYSE Euronext in Paris, Lisbon, Brussels and Amsterdam. The project with NYSE Technologies also reflects in part the exchange’s heritage; following the fall of Communism in 1989, much of the expertise involved in setting up the exchange was provided by France’s Société des Bourses Françaises.
Housed in a purpose-built centre in the centre of Warsaw, the WSE has strong regional ambitions to be a centre of capital raising in central and eastern Europe. Its main rival is Austria’s Vienna Stock Exchange, which is the leading member of the Central and Eastern European Stock Exchange Group. The group’s other members include the exchanges of Prague, Budapest and Ljubljana, giving it a combined market capitalisation of approximately €125.9 billion, according to figures provided by the Federation of European Securities Exchanges.
Meanwhile, TMX Atrium has been expanding its presence in central and eastern Europe. In January, the firm opened a new route from Frankfurt to Moscow, aimed at low-latency trading between western Europe and Russia.
“Poland is a very attractive source of liquidity with strong economic and GDP growth and the biggest stock exchange in terms of domestic market capitalisation and value of equity trading in the central and eastern Europe region,” said Emmanuel Carjat, chief executive at TMX Atrium. “This ensures that TMX Atrium clients have easy access to multiple markets across central, eastern and western Europe and north America.”