Alternative trading systems in Poland

Abstract

The first Polish alternative trading system – called NewConnect – was opened on 30 August 2007. It has the status of an organized market, but it is operated by the Warsaw Stock Exchange outside the regulated market. Two years later, on 30 September 2009, the WSE launched another market – Catalyst – which consists of four segments including: two regular markets and two alternative trading platforms. The present paper aims to describe fundamental rules of the Polish alternative trading platforms as well as to depict a short overview of their trading indicators and basic statistics.