GPW — what is the Warsaw Stock Exchange?

Definition

GPW (Warsaw Stock Exchange) is the largest stock exchange in Central and Eastern Europe and the main capital market in Poland. It's a place where investors buy and sell company shares, bonds, ETFs and other financial instruments.

Quick Answer

The GPW (Giełda Papierów Wartościowych w Warszawie) is Poland's main regulated capital market, established on April 16, 1991 and the largest exchange in Central and Eastern Europe. It hosts a main market listing over 400 companies plus the alternative NewConnect market for smaller firms, where investors trade shares, bonds and ETFs. Its key indices include WIG, WIG20 and mWIG40, and trading runs from 9:00 to 17:05 on business days. To invest you need a brokerage account, funds, and to place orders through your broker's platform.

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Brief history

GPW was established on April 16, 1991 — as one of the first institutions of the reborn Polish capital market. The first session took place with 5 companies. Today, GPW lists over 400 companies on the main market and several hundred on NewConnect (market for smaller companies).

Main indices

How to start investing on GPW?

To buy shares on GPW, you need:

1. Brokerage account — with a broker (XTB, mBank eMakler, Bossa, DM BOŚ)
2. Funds in account — deposit money to the broker's account
3. Order — place a buy order for chosen company through broker's platform

Trading session runs from 9:00 to 17:05 on business days.

GPW vs foreign exchanges

Polish investors also have access to foreign exchanges (NYSE, NASDAQ, Xetra) through their brokers. GPW offers fewer company choices but simpler tax settlement and no currency risk.

How Freenance can help?

Freenance tracks your investments on GPW and foreign exchanges in one dashboard. You see portfolio value, returns and allocation — without logging into multiple platforms.

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FAQ

What is the Warsaw Stock Exchange (GPW)?

GPW (Giełda Papierów Wartościowych w Warszawie) is Poland's main regulated capital market, headquartered in Warsaw and operating since 1991. It hosts a main market for established companies and the alternative NewConnect market for smaller and growth-stage businesses.

What is the WIG20 index?

WIG20 is a price index covering the 20 largest and most liquid companies listed on the main market of GPW. It is widely used as a benchmark for the Polish blue-chip segment and is the underlying index for several Polish ETFs and futures contracts.

What is NewConnect and how does it differ from the main market?

NewConnect is GPW's alternative trading system aimed at smaller and earlier-stage companies, with lighter listing requirements than the main market. Liquidity and disclosure are generally lower than on the main market, which means investors typically take on higher specific risk in exchange for exposure to growth names.

Who regulates trading on GPW?

GPW operates under Polish capital market law and is supervised by the Komisja Nadzoru Finansowego (KNF), the financial supervision authority. KNF oversees issuers, intermediaries and market conduct, while GPW itself runs the trading venue and publishes the official rulebook.

What are typical GPW trading hours?

The continuous trading session on the main market generally runs on business days from 09:00 to 17:00 local time, followed by a closing auction. Exact opening and closing auction times are published in GPW's trading schedule and may differ for specific instruments.

How do I start investing on GPW?

To buy shares on GPW you need three things: a brokerage account with a broker such as XTB, mBank eMakler, Bossa or DM BOŚ; funds deposited to that broker's account; and a buy order placed for your chosen company through the broker's platform. The trading session runs from 9:00 to 17:05 on business days.

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