The Warsaw Stock Exchange (WSE) has announced a new opening of Alternative Trading System (ATS) – NewConnect 2.0. The aim of the new opening is the activation of communities related to the market, the investors activation and the restore of confidence to ATS.
To achieve these goals, The WSE has established an Authorized Advisory Board, which aims to increase the responsibility of Authorized Advisers for the NewConnect market. The duties of the Board will include: presentation of proposals directions of ATS development, creating guidelines of Authorized Advisors activities and taking action to increase the quality of their work and giving opinions on the changes in laws and regulations concerning the ATS organization. The Authorized Advisory Board will function as an advisory committee of the Warsaw Stock Exchange.
“We announce today a new opening of the NewConnect, which since 2012 passed a thorough reform designed to improve the security market and the quality of the companies listed on it. Even this year we plan to carry out concrete measures aimed at increasing confidence on this market and activation of investors and issuers. We also plan a revision of the Code of Best Practice for Authorized Advisers, a new segmentation of the market, a improvement of the transparency and the accessibility to information about issuers and Authorized Advisors and the promotion of NewConnect among issuers and investors. We also intend to consistently enforce compliance with the ATS Rules”– said Paweł Tamborski, the President of the Warsaw Stock Exchange.
Currently, there are 432 companies listed on the NewConnect (including 11 international companies) with a total capitalization of approximately PLN 9.6 billion. The NewConnect is kept at the forefront of the fastest growing alternative markets in Europe in terms of number of IPOs.