Trading on the Warsaw Stock Exchange

Trading on the Warsaw Stock Exchange

TeleTrade takes trading to a new level. Always combining innovation and dedication to our clients’ needs, we strive to offer you the largest suite of investment products in the industry. Apart from over 130 Forex and CFD instruments, our valued clients can now take their pick from a broad range of shares and various derivative products traded on the Warsaw Stock Exchange.

Diversify your portfolio and maximize your earning potential with instruments traded on the largest stock exchange in Central and Eastern Europe. We go the extra mile to offer you easy access and brokerage services of the highest standards that will enhance your trading experience. Enter the fascinating world of stock exchange trading and change the way you trade forever.

About the Warsaw Stock Exchange

The Warsaw Stock Exchange (WSE) is located in Poland and it is the largest national stock exchange in the CEE region and one of the most rapidly-growing exchanges in Europe. Established in 1991 by the State Treasury, it gained a market capitalization of $200 billion in just six years. The exchange offers a broad spectrum of financial services and products, including electronically traded equities, bonds and derivative products.

As of December 2013, the Warsaw Stock Exchange became CEE’s leader in terms of equity and derivative trading, liquidity and number of IPOs. In 2013 there were 65 new listings on its Main and NewConnect markets, making it Europe’s second most active IPO market. Currently, the exchange lists approximately 1000 issuers, including 61 international companies from the CEE region, as well as from Austria, UK, Czech Republic, Ukraine, Israel and China.

Get access to a wide range of instruments

Our clients can trade instruments on the following markets:

WSE Main Market – Trading in equities, equity-related financial and cash instruments, as well as derivative products.

Derivatives Market – Trading in indices, single stocks, currencies, index options, interest rates and Treasury bond futures.

Exchange Traded Products Market – Trading in structured instruments, including 3 ETFs on the WIG20, DAX and S&P 500 indices.

Nature of the service

TeleTrade, as a member of Warsaw Stock Exchange, is eligible to conduct direct trading in financial instruments on the WSE though its technical and organizational infrastructure. Customers of TeleTrade can - by tapping into this infrastructure and sharing the benefits of TeleTrade’s exchange membership, connectivity arrangements, order routing system, risk management system, settlement and custodianship services and record-keeping support - get direct access to the WSE for the purpose of executing their own trades via a remote trading terminal application run on their personal computers. Such service is referred to as Direct Market Access, and it offers the following benefits to the Clients:

  • Non-intermediated access to the Exchange venue. The Clients are free to decide themselves on their trades and submit them in real time, directly into the trading book of the Exchange via a trading terminal, at any moment during the Exchange’s working hours. The only layer effectively separating a Client and the marketplace is the system of safety pre-trade filters and risk checks that are embedded into the trading application and TeleTrade’s transmission protocols, and are designed to prevent input errors, excesses of limits and breaches of order placement rules;
  • Immediate execution. Clients orders are placed directly into the market via TeleTrade’s connection with the WSE gateway, thus the Clients obtain the shortest order path possible for a non-broker market participant. Clients trades get executed once the matching orders are found in the WSE’s book. Transmission of orders typically is as fast as Client’s internet connections permits, TeleTrade’s servers process up to 20 orders per second into the WSE gateway, while the WSE’s trading system has design throughput of 20,000 orders per second;
  • Cost efficiency and transparency. The service has low entry barriers for Clients due to insignificant sign-up costs, no minimum account balances or trading volume thresholds, and no need for any specialized equipment or technical arrangements. The costs are predominantly transaction-driven and therefore fully controlled by Clients;
  • Real-time supply of market information. Clients are provided with most up to date market information – current quotes for all available instruments, depth of trading interest at these quotes, record of actual transactions as they are performed – which is broadcasted online from the WSE gateway into the Clients’ trading terminals, under TeleTrade’s Market Data Distribution Agreement with the WSE, and is updated within seconds so as to facilitate informed decision-making by Clients.
  • Conditional/deferred order placement and automated trading options. Clients have a variety of order construction options, allowing to specify order type, price splitting and execution scheme, and also conditional and deferred orders, including stop-loss and take-profit orders, so as to precisely address Clients’ particular needs. Sophisticated investors also can benefit from the support of algorithmic trading that a Client can program and adjust using the built-in tools of the trading platform.

TECHNOLOGICAL AND ORGANISATIONAL ARRANGEMENTS

WSE operates on a Unified Trading Platform (UTP) which is a modern and advanced solution sourced from NYSE and represents world-class quality in technology with a design throughput of 20,000 orders per second. UTP is well known to international investors and brokers on the world’s biggest markets as the same platform is used by the NYSE Euronext stock exchanges in New York, Paris, Lisbon, Amsterdam and Brussels.

Connection with the WSE is established via TeleTrade’s own server, physically hosted in Warsaw, and used as a gateway for broadcasting of market data from the WSE to Clients and transmission of orders from the Clients to the marketplace.

Clients’ orders are processed and transmitted via QUIK a flexible trading platform providing online access to the Warsaw Stock Exchange trading system. QUIK is available for free downloading from the TeleTrade’s web-site, and is to be installed, registered and set up by a Client, remotely, on his personal computer. TeleTrade provides guidelines for setting up the QUIK terminals and executing, through its interface, transactions on the WSE. TeleTrade also provides ongoing technical support of the terminals, and assists Clients with any issues related to the installation and functioning of the terminals.

Clients’ orders are submitted from Client’s individual workstations via the QUIK terminal, and are subsequently aggregated by the QUIK server and screened against a set of pre-trade filters and checks designed to prevent input errors, breaches of trading limits and violation of order placement rules. The orders are also monitored by the TeleTrade staff for unwarranted short positions or incidence of orders that technically correct, but apparently devoid of rationale and were likely placed by mistake.

Client’s orders that have successfully passed pre-trade screening are routed to the marketplace and are put on the order book of the Exchange. Upon execution of such orders, Client’s cash and security balances are immediately updated in their trading terminals, reflecting the price and volume of the trade. Simultaneously, information on the transaction is automatically sent from the Exchange to the TeleTrade’s WSE gateway, and, independently, to the Polish financial institution that serves as TeleTrade’s clearing partner and also maintains cash and security balances in the Client’s trading accounts. The clearing partner records the transactions, and updates the centralized registry of the Polish National Depository for Securities with the respective changes in rights to securities and resulting payment obligations.

The transactions are settled within 3 business days, following the T+2 settlement cycle enforced by the National Depository. TeleTrade’s clearing partner that settles Clients’ transactions is a direct member of the National Depository’s Clearing House. The latter guarantees, by its centralised Guarantee Fund, proper settlement of transactions and delivery of securities and therefore reduces the risk of counterparty default.

Information on executed and settled transactions, and also on changes in available securities and cash balances in the trading accounts, is communicated to TeleTrade’s Clients on a daily basis, via trading statements, and is also updated in the Clients’ personal pages in the TeleTrade’s web site.

Assets deposited by TeleTrade’s Clients for trading in regulated markets are maintained in accounts legally segregated from TeleTrade’s own accounts, thus being safeguarded from any claims against TeleTrade. Cash assets are kept exclusively with regulated and duly licensed European credit institutions. Security assets are kept in an omnibus securities account held with a professional custodian, a Polish financial institution that is supervised by Polish Financial Authority and National Depository of Securities.

Structure of arrangements and informational/financial flows for the DMA service:

WSE Service

SUPPORTING SERVICES

To support and enhance clients’ trading experience, TeleTrade also provides a range of ancillary services:

  • account information – book-keeping for all individual accounts, sending out trading statements, updating clients’ personal page on the TeleTrade web-site
  • analytical support of trading – daily reviews of performance and highlights of the Polish stock market
  • access to testing accounts and simulated market environment to provide real-life trading experience to novice traders without putting investments at risk
  • processing of inbound and outbound payments, currently supporting bank account transfers, moving to introduce online card payment options
  • customer/technical support with respect to any trading issues, setting up and use of trading terminals and any other questions related to trading at the WSE
  • processing of voice orders to allow Clients submit, withdraw or modify their orders by phone in case of internet outages or emergencies;
  • education / informational programs and events devised to increase Clients’ awareness of available trading options, their risks and benefits and educate Clients about trading in financial instruments

BEST EXECUTION & RISK DISCLOSURE

Client order handling and best execution

MiFID requires that firms take all reasonable steps to obtain the best possible result in the execution of an order for a client. The best possible result is not limited to execution price but also includes cost, speed, likelihood of execution and likelihood of settlement and any other factors deemed relevant. TeleTrade addresses requirements of MiFID within the scope of the DMA service according to its Best Execution Policy.

BEST EXECUTION POLICY FOR DMA

Disclosure of Risks

MiFID and the implementing Directive Di144-2007-02/2012 of the Cyprus Securities And Exchange Commission require that investment firms provide potential Clients with a general description of the nature and risks of financial instruments, and risks involved in relation to the product or investment service offered. TeleTrade addresses these requirements, within the scope of its DMA service, by providing the following disclosures and warnings:

RISK DISCLOSURE AND ACKNOWLEDGEMENT FOR TRADING ON A REGULATED MARKET

Financial instruments available for trading

The service provides online access to the market place for the following financial instruments:

a) All common equity shares listed at Warsaw Stock Exchange, as per register of the Exchange available at http://www.gpw.pl/informacje_o_notowanych_akcjach_en (for the Main Market shares) and http://www.newconnect.pl/index.php?page=1096 (for the NewConnect market), as may be changed from time to time by the WSE in the view of delisting/suspension of existing share issues, or new share listings.

b) Exchange Traded Funds (ETFs) listed at Warsaw Stock Exchange - WIG20 ETF, SP500 ETF and DAX ETF.

c) All corporate, treasury and municipal bonds listed at the WSE Catalyst/ASO market, as per register of the Exchange available at http://gpwcatalyst.pl/1136, as may be changed from time to time by the WSE in the view of delisting/suspension/expiration of existing bond issues, or new bond listings.

  • Bonds list
    Issuer  Name  ISIN Date of first quotation  Type  Interest rate  Issue currency Issue value Nominal value  Interest in the current interest period, %  Date of redemption 
    2C PARTNERS 2CP0316 PL2CPRT00048 11/5/2014 corporate bond Fixed interest-rate PLN 2,100,000 100 10 3/31/2016
    2C PARTNERS 2CP0317 PL2CPRT00063 1/16/2015 corporate bond Fixed interest-rate PLN 3,000,000 1,000 9.5 3/17/2017
    2C PARTNERS 2CP0416 PL2CPRT00055 11/5/2014 corporate bond Fixed interest-rate PLN 4,206,000 100 10 4/30/2016
    2C PARTNERS 2CP0517 PL2CPRT00071 3/16/2015 corporate bond Fixed interest-rate PLN 2,000,000 1,000 9.25 5/12/2017
    AB ABE0720 PLAB00000043 11/4/2015 corporate bond Floating interest-rate PLN 70,000,000 10,000 3.29 7/29/2020
    AB ABE0819 PLAB00000035 11/20/2014 corporate bond Floating interest-rate PLN 100,000,000 10,000 3.39 8/12/2019
    ABS INVESTMENT AIN0717 PLABSIN00020 9/17/2014 corporate bond Fixed interest-rate PLN 1,000,000 1,000 8.5 7/24/2017
    ACTION ACT0717 PLACTIN00034 9/9/2014 corporate bond Floating interest-rate PLN 100,000,000 10,000 3.19 7/4/2017
    AILLERON ALL0317 PLWNDMB00028 6/30/2014 corporate bond Floating interest-rate PLN 15,000,000 100 7.62 3/19/2017
    ALIOR BANK ALR0321 PLALIOR00102 5/21/2015 corporate bond Floating interest-rate PLN 192,950,000 1,000 5.3 3/31/2021
    ALIOR BANK ALR0421 PLMRTMB00026 7/11/2013 corporate bond Floating interest-rate PLN 67,200,000 10,000 7.61 4/29/2021
    AOW FAKTORING AOW0317 PLAOWFK00043 11/5/2014 corporate bond Floating interest-rate PLN 5,000,000 100 6.72 3/28/2017
    AOW FAKTORING AOW0416 PLAOWFK00035 10/16/2013 corporate bond Floating interest-rate PLN 5,000,000 100 6.73 4/26/2016
    AOW FAKTORING AOW0517 PLAOWFK00050 11/5/2014 corporate bond Floating interest-rate PLN 5,000,000 100 6.72 5/28/2017
    Bank Gospodarstwa Krajowego IDS1018 PL0000500021 10/26/2009 corporate bond Fixed interest-rate PLN 11,652,500,000 1,000 6.25 10/24/2018
    Bank Gospodarstwa Krajowego IDS1022 PL0000500070 8/26/2011 corporate bond Fixed interest-rate PLN 5,250,000,000 1,000 5.75 10/25/2022
    Bank Gospodarstwa Krajowego IDS1024 PL0000500161 5/26/2014 corporate bond Fixed interest-rate PLN 1,270,000,000 1,000 4 10/25/2024
    Bank Gospodarstwa Krajowego IWS0645 PL0000500062 6/27/2011 corporate bond Fixed interest-rate PLN 1,000,000,000 1,000 6 6/25/2045
    BANK MILLENNIUM MIL0618 PLBIG0000420 7/24/2015 corporate bond Floating interest-rate PLN 300,000,000 1,000 2.98 6/22/2018
    BANK POCZTOWY BPO0721 PLBPCZT00015 12/2/2011 corporate bond Floating interest-rate PLN 47,340,000 10,000 5.54 7/8/2021
    BANK POCZTOWY BPO1022 PLBPCZT00031 2/20/2013 corporate bond Floating interest-rate PLN 50,000,000 10,000 5.31 10/5/2022
    BANK POCZTOWY BPO1216 PLBPCZT00049 3/13/2014 corporate bond Floating interest-rate PLN 147,850,000 10,000 3.17 12/13/2016
    BARCIN BAR1125 PL0029200017 3/18/2014 municipal bond Floating interest-rate PLN 14,000,000 1,000 3.1 11/25/2025
    BBI DEVELOPMENT BBI0216 PLNFI1200141 5/27/2013 corporate bond Floating interest-rate PLN 22,000,000 1,000 8.3 2/22/2016
    BBI DEVELOPMENT BBI0217 PLNFI1200158 3/31/2014 corporate bond Floating interest-rate PLN 53,000,000 1,000 7.79 2/7/2017
    BBI DEVELOPMENT BBI0218 PLNFI1200166 4/10/2015 corporate bond Floating interest-rate PLN 35,000,000 1,000 6.8 2/22/2018
    BENEFIT SYSTEMS BFT0618 PLBNFTS00034 8/28/2015 corporate bond Floating interest-rate PLN 50,000,000 1,000 3.11 6/1/2018
    BEST BST0319 PLBEST000143 3/20/2015 corporate bond Floating interest-rate PLN 35,000,000 100 5.02 3/10/2019
    BEST BST0320 PLBEST000150 3/20/2015 corporate bond Floating interest-rate PLN 20,000,000 100 5.22 3/10/2020
    BEST BST0418 PLBEST000127 5/12/2014 corporate bond Floating interest-rate PLN 45,000,000 100 5.53 4/30/2018
    BEST BST0516 PLBEST000101 5/8/2013 corporate bond Floating interest-rate PLN 39,000,000 100 6.42 5/28/2016
    BEST BST0820 PLBEST000168 10/2/2015 corporate bond Floating interest-rate PLN 60,000,000 100 5.32 8/28/2020
    BEST BST1018 PLBEST000135 11/13/2014 corporate bond Fixed interest-rate PLN 50,000,000 100 6 10/30/2018
    BEST II NS FIZ BS20118 PLBSTII00038 10/24/2014 corporate bond Floating interest-rate PLN 40,000,000 100 6.09 1/17/2018
    BIOMED-LUBLIN BML0818 PLBMDLB00026 10/27/2015 corporate bond Floating interest-rate PLN 9,000,000 100 7.29 8/14/2018
    BLUE TAX GROUP BTG1215 PLBLTXG00036 4/4/2014 corporate bond Fixed interest-rate PLN 500,000 1,000 9 12/8/2015
    BPS WARSZAWA BPS0718 PLBPS0000032 7/28/2011 Co-operative bond Floating interest-rate PLN 100,000,000 1,000 4.79 7/15/2018
    BPS WARSZAWA BPS0720 PLBPS0000024 7/28/2010 Co-operative bond Floating interest-rate PLN 80,000,000 1,000 7.29 7/12/2020
    BPS WARSZAWA BPS1122 PLBPS0000040 12/12/2012 Co-operative bond Floating interest-rate PLN 85,199,700 100 5.5 11/29/2022
    BRODNICA BRD1023 PL0019200019 12/4/2012 municipal bond Floating interest-rate PLN 12,700,000 1,000 3.51 10/19/2023
    BRZESKO BRZ1016 PL0012200016 10/22/2010 municipal bond Floating interest-rate PLN 3,500,000 1,000 3.81 10/19/2016
    BRZESKO BRZ1126 PL0012200024 2/21/2013 municipal bond Floating interest-rate PLN 6,400,000 1,000 3.5 11/25/2026
    BRZESKO BRZ1127 PL0012200032 2/27/2014 municipal bond Floating interest-rate PLN 7,000,000 1,000 3.5 11/25/2027
    BS - SK BANK WOŁOMIN BSW0323 PLSBRIR00033 4/29/2013 Co-operative bond Floating interest-rate PLN 30,000,000 100 5.05 3/29/2023
    BS - SK BANK WOŁOMIN BSW0424 PLSBRIR00041 5/23/2014 Co-operative bond Floating interest-rate PLN 35,000,000 100 5.01 4/17/2024
    BS - SK BANK WOŁOMIN BSW0721 PLSBRIR00017 7/28/2011 Co-operative bond Floating interest-rate PLN 10,000,000 1,000 4.99 7/8/2021
    BS BIAŁA RAWSKA BRB0425 PLBSBR000023 10/28/2010 Co-operative bond Floating interest-rate PLN 10,000,000 1,000 5.31 4/9/2025
    BS LIMANOWA BSL0521 PLBSLIM00011 5/31/2011 Co-operative bond Floating interest-rate PLN 10,000,000 1,000 5 5/13/2021
    BS LIMANOWA BSL0525 PLBSLIM00029 7/3/2015 Co-operative bond Floating interest-rate PLN 5,000,000 1,000 4.8 5/15/2025
    BS OSTRÓW MAZOWIECKA BOM0221 PLBSPOM00010 2/28/2011 Co-operative bond Floating interest-rate PLN 10,000,000 1,000 5.29 2/11/2021
    BS PIASECZNO BSP0620 PLBSPIA00017 9/28/2010 Co-operative bond Floating interest-rate PLN 5,000,000 1,000 4.79 6/25/2020
    BS PIASECZNO BSP0724 PLBSPIA00025 9/5/2014 Co-operative bond Floating interest-rate PLN 10,000,000 100 4.79 7/18/2024
    BS PŁOŃSK BPL0421 PLBSPLS00013 5/31/2011 Co-operative bond Floating interest-rate PLN 7,000,000 1,000 4.81 4/15/2021
    BS PŁOŃSK BPL0422 PLBSPLS00021 6/29/2012 Co-operative bond Floating interest-rate PLN 7,000,000 100 4.81 4/27/2022
    BS SKIERNIEWICE BSS0418 PLBSSKR00011 5/31/2011 Co-operative bond Floating interest-rate PLN 8,000,000 1,000 5.3 4/1/2018
    BS TYCHY BTY0317 PLBSTCH00025 6/22/2012 Co-operative bond Floating interest-rate PLN 1,600,000 1,000 5.8 3/27/2017
    BS TYCHY BTY1216 PLBSTCH00017 3/22/2012 Co-operative bond Floating interest-rate PLN 2,000,000 1,000 5.27 12/15/2016
    BS-BBS DARŁOWO BBS1225 PLBBSDR00012 4/21/2011 Co-operative bond Floating interest-rate PLN 2,900,000 1,000 4.79 12/24/2025
    BS-ESBANK ESB0725 PLESBSR00014 11/30/2010 Co-operative bond Floating interest-rate PLN 5,000,000 1,000 4.79 7/16/2025
    BS-GBS BANK BARLINEK GBS0621 PLGBSBR00015 7/28/2011 Co-operative bond Floating interest-rate PLN 10,000,000 1,000 4.56 6/10/2021
    BS-HEXABANK BPT0620 PLBSPT000017 11/30/2010 Co-operative bond Floating interest-rate PLN 4,000,000 1,000 4.96 6/11/2020
    BS-KBS ALEKSANDRÓW KUJAWSKI KBS0518 PLKBSAK00014 7/20/2012 Co-operative bond Floating interest-rate PLN 6,000,000 100 5.25 5/30/2018
    BS-KBS KRAKÓW SBK0923 PLKRBSP00025 10/18/2013 Co-operative bond Floating interest-rate PLN 50,000,000 100 5.1 9/20/2023
    BS-KBS KRAKÓW SBK1020 PLKRBSP00017 2/28/2011 Co-operative bond Floating interest-rate PLN 20,685,000 1,000 5.81 10/29/2020
    BS-MBS ŁOMIANKI MBS0720 PLMBSLM00013 2/28/2011 Co-operative bond Floating interest-rate PLN 6,000,000 1,000 4.99 7/23/2020
    BS-OK BANK KNURÓW OKB0520 PLOKBS000017 7/28/2010 Co-operative bond Floating interest-rate PLN 7,000,000 1,000 4.75 5/28/2020
    BS-PBS CIECHANÓW BSC0620 PLPBSC000016 9/28/2010 Co-operative bond Floating interest-rate PLN 10,000,000 1,000 4.78 6/18/2020
    BS-PBS CIECHANÓW BSC0621 PLPBSC000024 7/28/2011 Co-operative bond Floating interest-rate PLN 8,000,000 1,000 4.78 6/22/2021
    BS-PBS CIECHANÓW BSC0927 PLPBSC000032 10/29/2012 Co-operative bond Floating interest-rate PLN 11,090,000 1,000 5.3 9/14/2027
    BS-PBS CIECHANÓW BSC1124 PLPBSC000040 4/27/2015 Co-operative bond Floating interest-rate PLN 5,220,000 1,000 4.74 11/26/2024
    BS-PBS SANOK PBS0225 PLPBS0000057 5/7/2015 Co-operative bond Floating interest-rate PLN 8,280,000 100 5.8 2/23/2025
    BS-PBS SANOK PBS0325 PLPBS0000065 6/10/2015 Co-operative bond Floating interest-rate PLN 2,623,000 100 5.8 3/31/2025
    BS-PBS SANOK PBS0523 PLPBS0000032 6/28/2013 Co-operative bond Floating interest-rate PLN 25,000,000 100 5.05 5/28/2023
    BS-PBS SANOK PBS0720 PLPBS0000016 7/28/2010 Co-operative bond Floating interest-rate PLN 25,000,000 1,000 5.79 7/2/2020
    BS-PBS SANOK PBS1021 PLPBS0000024 10/28/2011 Co-operative bond Floating interest-rate PLN 23,000,000 100 5.01 10/6/2021
    BS-PBS SANOK PBS1024 PLPBS0000040 12/5/2014 Co-operative bond Floating interest-rate PLN 11,503,800 100 5.81 10/24/2024
    BS-PMBS ZABŁUDÓW PMS0624 PLPMBSZ00016 9/28/2010 Co-operative bond Floating interest-rate PLN 5,000,000 1,000 4.78 6/18/2024
    BS-SBR SZEPIETOWO SBR0325 PLSBRS000016 7/28/2010 Co-operative bond Floating interest-rate PLN 2,000,000 1,000 5.3 3/12/2025
    BS-SBR SZEPIETOWO SBR0725 PLSBRS000024 11/30/2010 Co-operative bond Floating interest-rate PLN 5,000,000 1,000 5.29 7/16/2025
    BS-WBS BANK WARSZAWA WBS0521 PLWAWBS00014 7/28/2011 Co-operative bond Floating interest-rate PLN 7,000,000 1,000 4.95 5/27/2021
    BZ WBK BZW0618 PLBZ00000176 7/27/2015 corporate bond Floating interest-rate PLN 485,000,000 1,000 2.84 6/25/2018
    BZ WBK BZW0717 PLBZ00000168 8/1/2014 corporate bond Floating interest-rate PLN 475,000,000 1,000 2.79 7/17/2017
    BZ WBK BZW1216 PLBZ00000150 1/28/2014 corporate bond Floating interest-rate PLN 500,000,000 1,000 2.98 12/19/2016
    CAPITAL PARK CAP0318 PLCPPRK00086 5/8/2015 corporate bond Floating interest-rate PLN 11,114,500 100 6.02 3/18/2018
    CAPITAL PARK CAP0617 PLCPPRK00052 8/4/2014 corporate bond Floating interest-rate PLN 35,000,000 100 7.27 6/13/2017
    CAPITAL PARK CAP0618 PLCPPRK00094 8/14/2015 corporate bond Floating interest-rate PLN 33,116,300 100 6.02 6/3/2018
    CAPITAL PARK CAP0818 PLCPPRK00102 10/7/2015 corporate bond Floating interest-rate PLN 1,883,700 100 6.03 8/14/2018
    CAPITAL PARK CAP0917 PLCPPRK00060 12/2/2014 corporate bond Floating interest-rate PLN 20,000,000 100 7.1 9/23/2017
    CAPITAL PARK CAP1217 PLCPPRK00078 2/19/2015 corporate bond Floating interest-rate PLN 53,885,500 100 6.02 12/23/2017
    CAPITAL SERVICE CSV0217 PLCPLSV00015 6/12/2015 corporate bond Fixed interest-rate PLN 2,880,000 1,000 9.5 2/24/2017
    CASUS FINANSE CAS1117 PLCSSFN00059 2/26/2015 corporate bond Floating interest-rate PLN 24,000,000 1,000 0 11/14/2017
    CASUS FINANSE CAS1216 PLCSSFN00026 5/23/2014 corporate bond Floating interest-rate PLN 9,650,500 100 6.74 12/28/2016
    CHEMOSERVIS-DWORY CHS0318 PLCHMDW00051 6/18/2015 corporate bond Floating interest-rate PLN 15,000,000 1,000 7.05 3/6/2018
    COMP CMP0620 PLCMP0000058 10/15/2015 corporate bond Floating interest-rate PLN 50,000,000 1,000 4.09 6/30/2020
    COPERNICUS SECURITIES CRS0416 PLCPRSC00020 6/6/2014 corporate bond Floating interest-rate PLN 5,000,000 1,000 5.31 4/10/2016
    CUBE. ITG CTG0417 PLMCINT00021 8/8/2014 corporate bond Floating interest-rate PLN 3,500,000 1,000 7.98 4/12/2017
    CYFROWY POLSAT CPS0721 PLCFRPT00039 8/12/2015 corporate bond Floating interest-rate PLN 1,000,000,000 1,000 4.29 7/21/2021
    Czerwona Torebka Spółka Akcyjna CZT0416 PLCRWTR00048 6/17/2013 corporate bond Floating interest-rate PLN 14,610,000 10,000 6.81 4/15/2016
    DAYLI POLSKA DAY0916 PLDLPLK00011 5/28/2015 corporate bond Fixed interest-rate PLN 5,000,000 1,000 8.5 9/5/2016
    DEBT TRADING PARTNERS BIS DTP0816 PLDPTRP00028 12/9/2013 corporate bond Floating interest-rate PLN 9,055,000 1,000 6.23 8/22/2016
    DOM DEVELOPMENT DOM0620 PLDMDVL00053 8/19/2015 corporate bond Floating interest-rate PLN 100,000,000 10,000 3.67 6/12/2020
    ECHO INVESTMENT ECH0318 PLECHPS00175 10/10/2014 corporate bond Floating interest-rate PLN 75,000,000 100 4.95 3/4/2018
    ECHO INVESTMENT ECH0418 PLECHPS00183 11/14/2014 corporate bond Floating interest-rate PLN 50,000,000 100 4.96 4/20/2018
    ECHO INVESTMENT ECH0616 PLECHPS00142 7/28/2014 corporate bond Floating interest-rate PLN 50,000,000 100 4.74 6/26/2016
    ECHO INVESTMENT ECH0716 PLECHPS00167 7/28/2014 corporate bond Floating interest-rate PLN 25,000,000 100 4.64 7/2/2016
    ED invest S.A. EDI1116 PLEDINV00048 9/30/2014 corporate bond Floating interest-rate PLN 6,600,000 1,000 6.73 11/16/2016
    EGB INVESTMENTS EGB0118 PLEGBIV00046 5/18/2015 corporate bond Floating interest-rate PLN 10,000,000 1,000 6.79 1/26/2018
    EGB INVESTMENTS EGB0318 PLEGBIV00053 7/7/2015 corporate bond Floating interest-rate PLN 6,000,000 1,000 6.3 3/20/2018
    EGB INVESTMENTS EGB0618 PLEGBIV00061 9/28/2015 corporate bond Floating interest-rate PLN 6,000,000 1,000 6.29 6/22/2018
    EGB INVESTMENTS EGB1217 PLEGBIV00038 3/30/2015 corporate bond Floating interest-rate PLN 10,000,000 1,000 7.79 12/22/2017
    ELBLĄG ELG0126 PL0017200086 4/10/2013 municipal bond Floating interest-rate PLN 22,000,000 100 3.39 1/10/2026
    ELBLĄG ELG0319 PL0017200011 6/28/2012 municipal bond Floating interest-rate PLN 5,000,000 1,000 2.65 3/8/2019
    ELBLĄG ELG0320 PL0017200029 6/28/2012 municipal bond Floating interest-rate PLN 5,500,000 1,000 2.75 3/8/2020
    ELBLĄG ELG0321 PL0017200037 6/28/2012 municipal bond Floating interest-rate PLN 9,000,000 100 2.95 3/30/2021
    ELBLĄG ELG0322 PL0017200045 6/28/2012 municipal bond Floating interest-rate PLN 15,500,000 100 3.05 3/30/2022
    ELBLĄG ELG0523 PL0017200052 8/20/2012 municipal bond Floating interest-rate PLN 15,500,000 100 3.1 5/25/2023
    ELBLĄG ELG0524 PL0017200060 8/20/2012 municipal bond Floating interest-rate PLN 16,500,000 100 3.2 5/25/2024
    ELBLĄG ELG0625 PL0017200078 9/28/2012 municipal bond Floating interest-rate PLN 18,000,000 100 3.29 6/29/2025
    EMPIK EMF1117 PLNFI1500078 2/13/2015 corporate bond Floating interest-rate PLN 128,800,000 100,000 9.8 11/17/2017
    ERBUD ERB0318 PLERBUD00053 5/7/2014 corporate bond Floating interest-rate PLN 52,000,000 10,000 4.8 3/26/2018
    EUROCENT ERC0617 PLERCNT00060 9/9/2015 corporate bond Fixed interest-rate PLN 1,800,600 100 8.5 6/8/2017
    EUROCENT ERC0916 PLERCNT00052 12/12/2014 corporate bond Fixed interest-rate PLN 2,000,000 100 9 9/8/2016
    EUROPEJSKI BANK INWESTYCYJNY EIB0617 PL0000400024 3/15/2002 corporate bond Zero-coupon PLN 275,000,000 100,000 0 6/15/2017
    EUROPEJSKI FUNDUSZ MEDYCZNY EFM0416 PLERPFM00022 8/4/2014 corporate bond Floating interest-rate PLN 3,456,000 1,000 10 4/29/2016
    EUROPEJSKI FUNDUSZ MEDYCZNY EFM1216 PLERPFM00030 8/4/2014 corporate bond Floating interest-rate PLN 4,394,000 1,000 10 12/20/2016
    EVEREST CAPITAL EVC0418 PLEVRCP00012 8/19/2015 corporate bond Floating interest-rate PLN 30,000,000 1,000 6.81 4/14/2018
    FABRYKA KONSTRUKCJI DREWNIANYCH FKD0516 PLFKDRW00040 9/10/2014 corporate bond Fixed interest-rate PLN 3,000,000 1,000 9.5 5/9/2016
    FAST FINANCE FFI0116 PLFSTFC00046 3/1/2013 corporate bond Floating interest-rate PLN 7,750,000 1,000 8.79 1/15/2016
    FAST FINANCE FFI0916 PLFSTFC00053 2/20/2014 corporate bond Floating interest-rate PLN 3,870,000 1,000 8.8 9/27/2016
    FAST FINANCE FFI1116 PLFSTFC00061 3/28/2014 corporate bond Floating interest-rate PLN 8,600,000 1,000 8.8 11/15/2016
    FERRATUM CAPITAL POLAND FRR0517 PLFRRTM00067 9/17/2014 corporate bond Floating interest-rate PLN 20,500,000 1,000 8.3 5/23/2017
    GETIN NOBLE BANK GNB0218 PLNOBLE00082 3/29/2012 corporate bond Floating interest-rate PLN 241,641,000 1,000 5.55 2/23/2018
    GETIN NOBLE BANK GNB0220 PLGETBK00152 5/7/2013 corporate bond Floating interest-rate PLN 75,000,000 1,000 4.9 2/28/2020
    GETIN NOBLE BANK GNB0221 PLGETBK00251 3/31/2014 corporate bond Floating interest-rate PLN 100,000,000 1,000 4.79 2/15/2021
    GETIN NOBLE BANK GNB0318 PLNOBLE00090 5/18/2012 corporate bond Floating interest-rate PLN 160,000,000 1,000 5.35 3/23/2018
    GETIN NOBLE BANK GNB0320 PLGETBK00160 5/27/2013 corporate bond Floating interest-rate PLN 69,356,000 1,000 4.9 3/30/2020
    GETIN NOBLE BANK GNB0321 PLGETBK00269 5/16/2014 corporate bond Floating interest-rate PLN 80,000,000 1,000 4.8 3/12/2021
    GETIN NOBLE BANK GNB0418 PLNOBLE00108 6/29/2012 corporate bond Floating interest-rate PLN 40,000,000 1,000 5.36 4/27/2018
    GETIN NOBLE BANK GNB0420 PLGETBK00178 6/28/2013 corporate bond Floating interest-rate PLN 45,009,000 1,000 4.91 4/27/2020
    GETIN NOBLE BANK GNB0421 PLGETBK00277 6/6/2014 corporate bond Floating interest-rate PLN 81,583,000 1,000 4.81 4/7/2021
    GETIN NOBLE BANK GNB0518 PLGETBK00020 7/26/2012 corporate bond Floating interest-rate PLN 37,283,000 1,000 5.35 5/23/2018
    GETIN NOBLE BANK GNB0617 PLGETBK00285 8/29/2014 corporate bond Floating interest-rate PLN 350,000,000 10,000 3.49 6/30/2017
    GETIN NOBLE BANK GNB0618 PLNOBLE00033 7/19/2011 corporate bond Floating interest-rate PLN 250,000,000 100,000 5.74 6/29/2018
    GETIN NOBLE BANK GNB0620 PLGETBK00186 8/9/2013 corporate bond Floating interest-rate PLN 42,694,000 1,000 4.76 6/5/2020
    GETIN NOBLE BANK GNB0717 PLGETBK00293 9/17/2014 corporate bond Floating interest-rate PLN 65,000,000 10,000 3.49 7/18/2017
    GETIN NOBLE BANK GNB0720 PLGETBK00194 9/20/2013 corporate bond Floating interest-rate PLN 148,576,000 1,000 4.79 7/10/2020
    GETIN NOBLE BANK GNB0817 PLNOBLE00041 9/7/2011 corporate bond Floating interest-rate PLN 35,000,000 100,000 5.26 8/10/2017
    GETIN NOBLE BANK GNB0819 PLGETBK00046 10/19/2012 corporate bond Floating interest-rate PLN 172,025,000 1,000 5.35 8/27/2019
    GETIN NOBLE BANK GNB0820 PLGETBK00202 10/30/2013 corporate bond Floating interest-rate PLN 65,000,000 1,000 4.8 8/28/2020
    GETIN NOBLE BANK GNB0917 PLNOBLE00058 10/5/2011 corporate bond Floating interest-rate PLN 50,000,000 1,000 5.27 9/1/2017
    GETIN NOBLE BANK GNB0919 PLGETBK00111 11/23/2012 corporate bond Floating interest-rate PLN 17,994,000 1,000 5.35 9/26/2019
    GETIN NOBLE BANK GNB1017 PLNOBLE00074 11/25/2011 corporate bond Floating interest-rate PLN 45,000,000 1,000 5.28 10/17/2017
    GETIN NOBLE BANK GNB1019 PLGETBK00129 12/21/2012 corporate bond Floating interest-rate PLN 40,000,000 1,000 5.36 10/21/2019
    GETIN NOBLE BANK GNB1020 PLGETBK00210 12/10/2013 corporate bond Floating interest-rate PLN 35,000,000 1,000 4.81 10/7/2020
    GETIN NOBLE BANK GNB1119 PLGETBK00137 1/8/2013 corporate bond Floating interest-rate PLN 40,000,000 1,000 5.25 11/18/2019
    GETIN NOBLE BANK GNB1120 PLGETBK00228 1/17/2014 corporate bond Floating interest-rate PLN 50,000,000 1,000 4.8 11/9/2020
    GETIN NOBLE BANK GNB1217 PLGETBK00301 2/17/2015 corporate bond Floating interest-rate PLN 100,000,000 10,000 3.48 12/19/2017
    GETIN NOBLE BANK GNB1219 PLGETBK00145 2/18/2013 corporate bond Floating interest-rate PLN 40,616,000 1,000 5.23 12/23/2019
    GETIN NOBLE BANK GNB1220 PLGETBK00244 2/18/2014 corporate bond Floating interest-rate PLN 24,249,000 1,000 4.53 12/21/2020
    GETIN NOBLE BANK GNF0618 PLGETBK00038 7/18/2012 corporate bond Floating interest-rate PLN 40,000,000 1,000 5.32 6/14/2018
    GETIN NOBLE BANK GNO0320 PLGETBK00327 5/22/2015 corporate bond Fixed interest-rate PLN 41,051,000 1,000 4 3/23/2020
    GETIN NOBLE BANK GNO0917 PLNOBLE00066 10/27/2011 corporate bond Floating interest-rate PLN 20,000,000 1,000 5.27 9/20/2017
    GETIN NOBLE BANK GNO1120 PLGETBK00236 1/28/2014 corporate bond Floating interest-rate PLN 40,397,000 1,000 4.75 11/30/2020
    GHELAMCO INVEST GHC0619 PLGHLMC00214 7/6/2015 corporate bond Floating interest-rate PLN 30,000,000 100 5.79 6/16/2019
    GHELAMCO INVEST GHC0718 PLGHLMC00156 8/28/2014 corporate bond Floating interest-rate PLN 30,800,000 100,000 6.79 7/16/2018
    GHELAMCO INVEST GHE0118 PLGHLMC00099 3/19/2014 corporate bond Floating interest-rate PLN 114,520,000 10,000 6.79 1/29/2018
    GHELAMCO INVEST GHE0418 PLGHLMC00115 6/12/2014 corporate bond Floating interest-rate PLN 27,170,000 1,000 6.31 4/25/2018
    GHELAMCO INVEST GHE0519 PLGHLMC00198 7/8/2015 corporate bond Floating interest-rate PLN 50,000,000 10,000 6.3 5/22/2019
    GHELAMCO INVEST GHE0619 PLGHLMC00180 1/16/2015 corporate bond Floating interest-rate PLN 50,000,000 100 5.27 6/16/2019
    GHELAMCO INVEST GHE0718 PLGHLMC00107 5/12/2014 corporate bond Floating interest-rate PLN 120,360,000 10,000 6.79 7/11/2018
    GHELAMCO INVEST GHE1117 PLGHLMC00164 10/8/2014 corporate bond Floating interest-rate PLN 37,780,000 10,000 6.5 11/27/2017
    GHELAMCO INVEST GHE1119 PLGHLMC00222 11/10/2015 corporate bond Floating interest-rate PLN 50,000,000 100 5.8 11/4/2019
    GHELAMCO INVEST GHI0619 PLGHLMC00206 7/6/2015 corporate bond Floating interest-rate PLN 50,000,000 100 5.79 6/16/2019
    GHELAMCO INVEST GHI0718 PLGHLMC00123 8/28/2014 corporate bond Floating interest-rate PLN 30,000,000 10,000 6.29 7/9/2018
    GHELAMCO INVEST GHJ0718 PLGHLMC00131 8/29/2014 corporate bond Floating interest-rate PLN 30,000,000 1,000 6.29 7/4/2018
    GHELAMCO INVEST GHK0718 PLGHLMC00149 8/28/2014 corporate bond Floating interest-rate PLN 11,240,000 10,000 6.29 7/9/2018
    GHELAMCO INVEST GHE0918 PLGHLMC00172 11/26/2014 corporate bond Floating interest-rate EUR 6,320,000 1,000 4.33 9/28/2018
    GOŁDAP GLD1125 PL0025200011 10/11/2013 municipal bond Floating interest-rate PLN 10,000,000 1,000 3.2 11/25/2025
    GPW GPW0117 PLGPW0000033 1/4/2012 corporate bond Floating interest-rate PLN 120,483,700 100 2.96 1/2/2017
    GRANIT-COLOR GRA0816 PLGRNCL00013 11/19/2013 corporate bond Fixed interest-rate PLN 5,770,800 700 9.5 8/8/2016
    GTB METROPOLIS NIERUCHOMOŚCI GTB0617 PLGTBMN00027 9/16/2015 corporate bond Fixed interest-rate PLN 1,687,000 1,000 9.2 6/19/2017
    GTB METROPOLIS NIERUCHOMOŚCI GTB1117 PLGTBMN00019 7/3/2015 corporate bond Fixed interest-rate PLN 8,075,000 1,000 9.5 11/28/2017
    GTC GTC0319 PLGTC0000177 4/9/2014 corporate bond Floating interest-rate PLN 200,000,000 10,000 6.3 3/11/2019
    HUSSAR GRUPPA HGR0517 PLHSRGR00018 7/31/2014 corporate bond Fixed interest-rate PLN 1,707,000 1,000 8.5 5/17/2017
    INDOS INS1017 PLINDOS00027 4/10/2015 corporate bond Fixed interest-rate PLN 6,000,000 1,000 8.5 10/31/2017
    INVISTA INV1215 PLECMNG00076 9/5/2013 corporate bond Floating interest-rate PLN 900,000 1,000 8.02 12/21/2015
    INVISTA INV1217 PLECMNG00084 11/2/2015 corporate bond Fixed interest-rate PLN 1,975,000 1,000 9 12/19/2017
    IPF INVESTMENTS POLSKA IPP0620 PLIPFIP00033 6/29/2015 corporate bond Floating interest-rate PLN 200,000,000 1,000 6.01 6/3/2020
    IVOPOL IVO0616 PLIVOPL00011 10/17/2014 corporate bond Floating interest-rate PLN 2,360,000 1,000 9 6/26/2016
    KANCELARIA MEDIUS KME0217 PLMDIUS00075 9/3/2015 corporate bond Fixed interest-rate PLN 2,603,200 100 8.5 2/17/2017
    KANCELARIA MEDIUS KME0416 PLMDIUS00059 10/23/2014 corporate bond Fixed interest-rate PLN 1,147,000 1,000 9 4/17/2016
    KANCELARIA MEDIUS KME0617 PLMDIUS00083 11/20/2015 corporate bond Fixed interest-rate PLN 3,492,500 100 8 6/2/2017
    KANCELARIA MEDIUS KME0916 PLMDIUS00067 5/19/2015 corporate bond Fixed interest-rate PLN 2,280,100 100 9.5 9/26/2016
    KERDOS GROUP KRS0316 PLHGNKA00135 11/25/2014 corporate bond Fixed interest-rate PLN 3,000,000 100 8 3/31/2016
    KERDOS GROUP KRS0318 PLHGNKA00176 5/20/2015 corporate bond Fixed interest-rate PLN 9,980,000 1,000 8 3/9/2018
    KERDOS GROUP KRS0416 PLHGNKA00143 11/25/2014 corporate bond Fixed interest-rate PLN 3,000,000 100 8 4/30/2016
    KERDOS GROUP KRS0516 PLHGNKA00150 11/25/2014 corporate bond Fixed interest-rate PLN 1,950,000 100 8 5/31/2016
    KERDOS GROUP KRS1217 PLHGNKA00168 4/2/2015 corporate bond Fixed interest-rate PLN 13,224,000 1,000 8 12/15/2017
    KLON KLN0217 PLKLON000051 4/17/2015 corporate bond Floating interest-rate PLN 2,500,000 100 7.23 2/23/2017
    KONOPISKA KON0916 PL0013200023 11/5/2010 municipal bond Floating interest-rate PLN 1,600,000 1,000 3.8 9/8/2016
    KRAKÓW KRA0423 PL0023200039 10/4/2013 municipal bond Floating interest-rate PLN 100,000,000 1,000 2.61 4/30/2023
    KRAKÓW KRA0424 PL0023200013 4/24/2013 municipal bond Floating interest-rate PLN 180,000,000 1,000 3.41 4/27/2024
    KRAKÓW KRA0528 PL0023200047 10/4/2013 municipal bond Floating interest-rate PLN 120,000,000 1,000 2.7 5/7/2028
    KRAKÓW KRA1027 PL0023200021 4/24/2013 municipal bond Floating interest-rate PLN 120,000,000 1,000 3.4 10/1/2027
    KREDYT INKASO KR20116 PLKRINK00113 4/13/2012 corporate bond Floating interest-rate PLN 5,000,000 1,000 7.19 1/2/2016
    KREDYT INKASO KRI0116 PLKRINK00105 4/13/2012 corporate bond Floating interest-rate PLN 35,000,000 1,000 7.29 1/2/2016
    KREDYT INKASO KRI0916 PLKRINK00121 5/11/2012 corporate bond Floating interest-rate PLN 30,000,000 1,000 7.5 9/5/2016
    KRUK KRU0316 PLKRK0000176 4/25/2012 corporate bond Floating interest-rate PLN 84,000,000 1,000 6.12 3/21/2016
    KRUK KRU0317 PLKRK0000226 4/10/2013 corporate bond Floating interest-rate PLN 60,000,000 1,000 6.32 3/7/2017
    KRUK KRU0517 PLKRK0000242 6/28/2013 corporate bond Floating interest-rate PLN 60,000,000 1,000 5.93 5/20/2017
    KRUK KRU0618 PLKRK0000267 7/25/2013 corporate bond Floating interest-rate PLN 15,000,000 1,000 6.22 6/25/2018
    KRUK KRU0620 PLKRK0000358 7/1/2015 corporate bond Fixed interest-rate PLN 13,359,900 100 4.5 6/8/2020
    KRUK KRU0621 PLKRK0000341 7/15/2015 corporate bond Floating interest-rate PLN 100,000,000 1,000 4.82 6/8/2021
    KRUK KRU0818 PLKRK0000275 9/20/2013 corporate bond Floating interest-rate PLN 50,000,000 1,000 6.23 8/13/2018
    KRUK KRU1018 PLKRK0000283 10/29/2013 corporate bond Floating interest-rate PLN 40,000,000 1,000 6.23 10/3/2018
    KRUK KRU1116 PLKRK0000192 12/18/2012 corporate bond Floating interest-rate PLN 30,000,000 1,000 6.33 11/5/2016
    KRUK KRU1216 PLKRK0000200 1/28/2013 corporate bond Floating interest-rate PLN 40,000,000 1,000 6.32 12/6/2016
    KRUK KRU1217 PLKRK0000317 1/15/2014 corporate bond Floating interest-rate PLN 15,000,000 100 5.72 12/6/2017
    KRUK KRU1218 PLKRK0000309 12/30/2013 corporate bond Floating interest-rate PLN 10,000,000 1,000 6.02 12/5/2018
    KRUK KRU1220 PLKRK0000325 1/14/2015 corporate bond Floating interest-rate PLN 45,000,000 1,000 5.07 12/3/2020
    LOKUM DEWELOPER LKD1017 PLLKMDW00015 12/18/2014 corporate bond Floating interest-rate PLN 30,000,000 1,000 5.61 10/17/2017
    LZMO LZM1116 PLLZMO000030 7/8/2014 corporate bond Fixed interest-rate PLN 6,099,000 1,000 8.75 11/22/2016
    MAK DOM MKD0317 PLMKDOM00028 9/30/2014 corporate bond Floating interest-rate PLN 5,500,000 1,000 6.6 3/31/2017
    MARKI MKI1123 PL0028200018 4/14/2014 municipal bond Floating interest-rate PLN 20,000,000 1,000 3.2 11/25/2023
    MARVIPOL MVP0819 PLMRVPL00149 11/12/2015 corporate bond Floating interest-rate PLN 60,000,000 10,000 5.39 8/3/2019
    mBANK MBK0125 PLBRE0005185 7/14/2015 corporate bond Floating interest-rate PLN 750,000,000 100,000 3.89 1/17/2025
    mBANK MBK1223 PLBRE0005177 1/2/2014 corporate bond Floating interest-rate PLN 500,000,000 100,000 4.03 12/20/2023
    MBANK HIPOTECZNY MBHPA13 PLRHNHP00219 5/23/2011 mortgage bond Floating interest-rate PLN 200,000,000 1,000 2.95 4/20/2016
    MBANK HIPOTECZNY MBHPA15 PLRHNHP00235 7/13/2011 mortgage bond Floating interest-rate PLN 200,000,000 1,000 2.75 6/16/2017
    MBANK HIPOTECZNY MBHPA18 PLRHNHP00268 5/16/2012 mortgage bond Floating interest-rate PLN 200,000,000 1,000 3.1 4/20/2017
    MBANK HIPOTECZNY MBHPA19 PLRHNHP00276 7/9/2012 mortgage bond Floating interest-rate PLN 200,000,000 1,000 3.46 6/15/2018
    MBANK HIPOTECZNY MBHPA20 PLRHNHP00318 12/21/2012 mortgage bond Floating interest-rate PLN 100,000,000 1,000 3.5 11/15/2016
    MBANK HIPOTECZNY MBHPA21 PLRHNHP00326 7/4/2013 mortgage bond Floating interest-rate PLN 80,000,000 1,000 2.79 6/21/2019
    MBANK HIPOTECZNY MBHPA22 PLRHNHP00391 8/14/2014 mortgage bond Floating interest-rate PLN 300,000,000 1,000 2.72 7/28/2022
    MBANK HIPOTECZNY MBHPA23 PLRHNHP00409 8/27/2014 mortgage bond Floating interest-rate PLN 200,000,000 1,000 2.73 2/20/2023
    MBANK HIPOTECZNY MBHPA24 PLRHNHP00433 3/13/2015 mortgage bond Floating interest-rate PLN 200,000,000 1,000 2.59 4/28/2022
    MBANK HIPOTECZNY MBHPA25 PLRHNHP00458 4/30/2015 mortgage bond Floating interest-rate PLN 250,000,000 1,000 2.68 10/16/2023
    MBANK HIPOTECZNY MBHPA26 PLRHNHP00482 10/22/2015 mortgage bond Floating interest-rate PLN 500,000,000 1,000 2.82 9/10/2020
    MBANK HIPOTECZNY MBHPU07 PLRHNHP00292 10/19/2012 public mortgage bond Floating interest-rate PLN 150,000,000 1,000 3.59 9/28/2016
    MBANK HIPOTECZNY MBHPE01 PLRHNHP00300 11/12/2012 mortgage bond Floating interest-rate EUR 10,000,000 1,000 1.93 10/19/2017
    MBANK HIPOTECZNY MBHPE02 PLRHNHP00334 8/16/2013 mortgage bond Fixed interest-rate EUR 30,000,000 1,000 2.75 7/28/2020
    MBANK HIPOTECZNY MBHPE03 PLRHNHP00342 12/17/2013 mortgage bond Floating interest-rate EUR 50,000,000 1,000 1.08 10/22/2018
    MBANK HIPOTECZNY MBHPE04 PLRHNHP00359 3/6/2014 mortgage bond Floating interest-rate EUR 7,500,000 1,000 0.85 2/15/2018
    MBANK HIPOTECZNY MBHPE05 PLRHNHP00367 3/19/2014 mortgage bond Fixed interest-rate EUR 8,000,000 1,000 3.5 2/28/2029
    MBANK HIPOTECZNY MBHPE06 PLRHNHP00375 3/31/2014 mortgage bond Fixed interest-rate EUR 15,000,000 1,000 3.5 3/15/2029
    MBANK HIPOTECZNY MBHPE07 PLRHNHP00383 6/18/2014 mortgage bond Fixed interest-rate EUR 20,000,000 1,000 3.2 5/30/2029
    MBANK HIPOTECZNY MBHPE08 PLRHNHP00417 11/18/2014 mortgage bond Fixed interest-rate EUR 20,000,000 1,000 1.12 10/22/2018
    MBANK HIPOTECZNY MBHPE09 PLRHNHP00425 12/15/2014 mortgage bond Floating interest-rate EUR 50,000,000 1,000 0.82 10/15/2019
    MBANK HIPOTECZNY MBHPE10 PLRHNHP00441 3/13/2015 mortgage bond Fixed interest-rate EUR 20,000,000 1,000 1.14 2/25/2022
    MBANK HIPOTECZNY MBHPE11 PLRHNHP00466 5/12/2015 mortgage bond Fixed interest-rate EUR 11,000,000 1,000 1.29 4/24/2025
    MBANK HIPOTECZNY MBHPE12 PLRHNHP00474 7/21/2015 mortgage bond Floating interest-rate EUR 50,000,000 1,000 0.65 6/24/2020
    MCI MANAGEMENT MCI1017 PLMCIMG00186 12/15/2014 corporate bond Floating interest-rate PLN 31,000,000 1,000 5.71 10/17/2017
    MCI MANAGEMENT MCI1216 PLMCIMG00160 3/26/2014 corporate bond Floating interest-rate PLN 30,000,000 1,000 6.28 12/19/2016
    MERA MER0616 PLMERA000050 9/6/2013 corporate bond Floating interest-rate PLN 12,300,000 1,000 6.97 6/27/2016
    MEXPOL MPL0316 PLMXPOL00019 10/16/2014 corporate bond Floating interest-rate PLN 1,600,000 1,000 9.01 3/31/2016
    MIDAS MDS0421 PLNFI0900113 8/5/2013 corporate bond Zero-coupon PLN 583,772,000 1,000 0 4/16/2021
    MIKROKASA MKR0417 PLMKRKS00080 6/8/2015 corporate bond Fixed interest-rate PLN 1,720,000 1,000 9 4/3/2017
    MIKROKASA MKR0517 PLMKRKS00098 9/2/2015 corporate bond Fixed interest-rate PLN 1,500,000 1,000 8 5/27/2017
    MIKROKASA MKR0617 PLMKRKS00106 9/14/2015 corporate bond Fixed interest-rate PLN 1,007,000 1,000 8.7 6/29/2017
    MIKROKASA MKR0916 PLMKRKS00056 12/1/2014 corporate bond Fixed interest-rate PLN 2,000,000 1,000 9.5 9/12/2016
    MIKROKASA MKR1016 PLMKRKS00072 5/6/2015 corporate bond Fixed interest-rate PLN 2,418,000 1,000 9.5 10/7/2016
    MIKROKASA MKR1116 PLMKRKS00064 3/9/2015 corporate bond Fixed interest-rate PLN 2,000,000 1,000 9.2 11/27/2016
    MIRBUD MRB0717 PLMRBUD00023 8/26/2014 corporate bond Floating interest-rate PLN 25,400,000 100 6.79 7/3/2017
    MO-BRUK MBR0816 PLMOBRK00047 6/15/2015 corporate bond Floating interest-rate PLN 16,375,000 1,000 6.72 8/31/2016
    MULTIMEDIA POLSKA MMP0520 PLMLMDP00064 6/7/2013 corporate bond Floating interest-rate PLN 1,038,000,000 100,000 5.05 5/10/2020
    MURAPOL MUL1116 PLMURPL00117 11/13/2014 corporate bond Floating interest-rate PLN 18,570,200 100 7.37 11/19/2016
    MURAPOL MUR0418 PLMURPL00125 6/30/2015 corporate bond Floating interest-rate PLN 30,000,000 100 6.33 4/29/2018
    MURAPOL MUR0816 PLMURPL00109 11/13/2014 corporate bond Floating interest-rate PLN 6,650,000 1,000 7.33 8/14/2016
    MURAPOL MUR1116 PLMURPL00091 11/13/2014 corporate bond Floating interest-rate PLN 8,934,800 100 7.43 11/14/2016
    MW TRADE MWD0216 PLMWTRD00088 4/19/2013 corporate bond Floating interest-rate PLN 10,000,000 100 6.22 2/19/2016
    MW TRADE MWD0316 PLMWTRD00104 5/27/2013 corporate bond Floating interest-rate PLN 10,000,000 100 6.22 3/28/2016
    MW TRADE MWT0216 PLMWTRD00070 4/19/2013 corporate bond Floating interest-rate PLN 30,000,000 100 6.2 2/19/2016
    MW TRADE MWT0316 PLMWTRD00096 5/27/2013 corporate bond Floating interest-rate PLN 30,000,000 100 6.2 3/19/2016
    MW TRADE MWT0416 PLMWTRD00112 7/19/2013 corporate bond Floating interest-rate PLN 25,000,000 100 6.21 4/26/2016
    MW TRADE MWT0417 PLMWTRD00138 7/4/2014 corporate bond Floating interest-rate PLN 15,000,000 100 5.81 4/17/2017
    MW TRADE MWT0616 PLMWTRD00120 8/6/2013 corporate bond Floating interest-rate PLN 15,000,000 100 6.16 6/11/2016
    MW TRADE MWT0618 PLMWTRD00146 7/29/2015 corporate bond Floating interest-rate PLN 23,000,000 1,000 4.49 6/26/2018
    MW TRADE MWT1215 PLMWTRD00062 2/19/2013 corporate bond Floating interest-rate PLN 10,000,000 100 6.18 12/17/2015
    NORDIC DEVELOPMENT NOR1016 PLNRDCD00066 4/15/2014 corporate bond Fixed interest-rate PLN 22,000,000 1,000 10 10/21/2016
    OLKUSZ OLK1123 PL0027200019 2/19/2014 municipal bond Floating interest-rate PLN 12,000,000 1,000 3.2 11/25/2023
    ORBIS ORB0620 PLORBIS00048 9/17/2015 corporate bond Floating interest-rate PLN 300,000,000 1,000 2.76 6/26/2020
    OT LOGISTICS OTS0217 PLODRTS00058 4/25/2014 corporate bond Floating interest-rate PLN 30,000,000 1,000 5.79 2/17/2017
    OT LOGISTICS OTS0818 PLODRTS00082 11/3/2015 corporate bond Fixed interest-rate PLN 10,000,000 1,000 0 8/18/2018
    OT LOGISTICS OTS1118 PLODRTS00074 1/19/2015 corporate bond Floating interest-rate PLN 100,000,000 1,000 5.7 11/20/2018
    OT LOGISTICS OTE0217 PLODRTS00066 8/11/2014 corporate bond Fixed interest-rate EUR 5,000,000 1,000 6.5 2/17/2017
    P.R.E.S.C.O. GROUP PRE1117 PLPRESC00075 2/11/2014 corporate bond Floating interest-rate PLN 35,000,000 1,000 6.15 11/28/2017
    PCC AUTOCHEM AUT0217 PLPCCTH00011 4/9/2014 corporate bond Fixed interest-rate PLN 3,000,000 100 6.8 2/5/2017
    PCC CONSUMER PRODUCTS KOSMET KOS0516 PLPCCPK00013 12/20/2013 corporate bond Fixed interest-rate PLN 4,164,400 100 6.8 5/5/2016
    PCC CONSUMER PRODUCTS KOSMET KOS1117 PLPCCPK00021 1/26/2015 corporate bond Fixed interest-rate PLN 3,000,000 100 6 11/5/2017
    PCC ROKITA PCR0416 PLPCCRK00043 5/15/2013 corporate bond Fixed interest-rate PLN 25,000,000 100 7.5 4/15/2016
    PCC ROKITA PCR0419 PLPCCRK00068 5/22/2014 corporate bond Fixed interest-rate PLN 22,000,000 100 5.5 4/17/2019
    PCC ROKITA PCR0517 PLPCCRK00050 6/14/2013 corporate bond Fixed interest-rate PLN 25,000,000 100 6.8 5/28/2017
    PCC ROKITA PCR0620 PLPCCRK00100 7/14/2015 corporate bond Fixed interest-rate PLN 20,000,000 100 5 6/25/2020
    PCC ROKITA PCR1019 PLPCCRK00092 11/6/2014 corporate bond Fixed interest-rate PLN 25,000,000 100 5.5 10/15/2019
    PEKAO BANK HIPOTECZNY PEOH203 PLBPHHP00077 7/20/2011 mortgage bond Floating interest-rate PLN 150,000,000 1,000 2.91 11/22/2021
    PEKAO BANK HIPOTECZNY PEOH204 PLBPHHP00085 3/12/2012 mortgage bond Floating interest-rate PLN 150,000,000 1,000 3.1 2/22/2022
    PEKAO BANK HIPOTECZNY PEOH205 PLBPHHP00093 8/29/2012 mortgage bond Floating interest-rate PLN 150,000,000 1,000 3.06 12/9/2017
    PEKAO BANK HIPOTECZNY PEOH207 PLBPHHP00119 1/21/2013 mortgage bond Floating interest-rate PLN 45,200,000 1,000 2.75 3/18/2019
    PEKAO BANK HIPOTECZNY PEOH211 PLBPHHP00150 1/12/2015 mortgage bond Floating interest-rate PLN 75,000,000 1,000 2.26 12/8/2016
    PEKAO BANK HIPOTECZNY PEOH206 PLBPHHP00101 10/30/2012 mortgage bond Floating interest-rate EUR 10,000,000 1,000 1.75 2/11/2018
    PEKAO BANK HIPOTECZNY PEOH208 PLBPHHP00127 6/17/2013 mortgage bond Floating interest-rate EUR 4,500,000 1,000 1.25 5/15/2019
    PEKAO BANK HIPOTECZNY PEOH209 PLBPHHP00135 1/31/2014 mortgage bond Floating interest-rate EUR 12,000,000 1,000 1.15 1/10/2019
    PEKAO BANK HIPOTECZNY PEOH210 PLBPHHP00143 3/10/2014 mortgage bond Fixed interest-rate EUR 15,000,000 1,000 2.45 2/12/2021
    PEKAO BANK HIPOTECZNY PEOH212 PLBPHHP00168 5/26/2015 mortgage bond Floating interest-rate EUR 25,000,000 1,000 0.76 4/28/2019
    PEKAO BANK HIPOTECZNY PEOH213 PLBPHHP00176 10/22/2015 mortgage bond Floating interest-rate EUR 20,000,000 1,000 0.79 9/24/2021
    PGE POLSKA GRUPA ENERGETYCZNA PGE0618 PLPGER000051 8/29/2013 corporate bond Floating interest-rate PLN 1,000,000,000 100,000 2.49 6/27/2018
    PIŁA PIA0922 PL0026200010 12/13/2013 municipal bond Floating interest-rate PLN 20,000,000 1,000 3.05 9/10/2022
    PIŁA PIA1124 PL0026200028 2/23/2015 municipal bond Floating interest-rate PLN 16,000,000 1,000 2.9 11/25/2024
    PKN ORLEN PK11117 PLPKN0000125 12/9/2013 corporate bond Floating interest-rate PLN 100,000,000 100 3.1 11/14/2017
    PKN ORLEN PKN0418 PLPKN0000133 5/12/2014 corporate bond Floating interest-rate PLN 200,000,000 100 3.11 4/2/2018
    PKN ORLEN PKN0420 PLPKN0000141 5/21/2014 corporate bond Fixed interest-rate PLN 100,000,000 100 5 4/9/2020
    PKN ORLEN PKN0517 PLPKN0000091 6/28/2013 corporate bond Floating interest-rate PLN 200,000,000 100 3.25 5/28/2017
    PKN ORLEN PKN0617 PLPKN0000109 6/28/2013 corporate bond Floating interest-rate PLN 200,000,000 100 3.26 6/3/2017
    PKN ORLEN PKN1117 PLPKN0000117 12/9/2013 corporate bond Floating interest-rate PLN 200,000,000 100 3.2 11/6/2017
    PKO FINANCE AB PKO0119 XS1019818787 4/10/2014 corporate bond Fixed interest-rate EUR 500,000,000 100,000 2.32 1/23/2019
    POLBRAND PBD0116 PLPLBRD00017 4/11/2014 corporate bond Fixed interest-rate PLN 12,560,000 100 11 1/4/2016
    POLBRAND PBD0616 PLPLBRD00025 6/11/2014 corporate bond Fixed interest-rate PLN 3,940,000 100 9 6/9/2016
    POLBRAND PBD1017 PLPLBRD00033 5/5/2015 corporate bond Fixed interest-rate PLN 1,554,000 1,000 9 10/2/2017
    POŁCZYN ZDRÓJ PLZ0916 PL0006200022 10/25/2010 municipal bond Floating interest-rate PLN 700,000 1,000 4.8 9/7/2016
    POŁCZYN ZDRÓJ PLZ0917 PL0006200030 10/25/2010 municipal bond Floating interest-rate PLN 800,000 1,000 4.8 9/7/2017
    POLKAP SFK1215 PLSFKPL00029 3/17/2014 corporate bond Floating interest-rate PLN 1,400,000 1,000 8.02 12/23/2015
    POLNORD PND0118 PLPOLND00167 7/27/2015 corporate bond Floating interest-rate PLN 10,500,000 100 5.84 1/27/2018
    POLNORD PND0217 PLPOLND00134 5/20/2014 corporate bond Floating interest-rate PLN 50,000,000 1,000 6.08 2/11/2017
    POLNORD PND0218 PLPOLND00159 7/27/2015 corporate bond Floating interest-rate PLN 34,000,000 100 5.8 2/13/2018
    POLNORD PND0618 PLPOLND00142 7/14/2015 corporate bond Floating interest-rate PLN 50,000,000 100 5.22 6/30/2018
    POWIAT GOLENIOWSKI PGL1127 PL0024200012 6/26/2013 municipal bond Floating interest-rate PLN 20,000,000 1,000 3.05 11/25/2027
    POZBUD T&R POZ0219 PLPZBDT00054 4/10/2015 corporate bond Floating interest-rate PLN 50,000,000 1,000 4.29 2/13/2019
    POZNAŃSKA 37 SPV POA0117 PLPZSPV00017 4/1/2014 corporate bond Fixed interest-rate PLN 15,600,000 1,000 8 1/31/2017
    POZNAŃSKA 37 SPV POB0117 PLPZSPV00025 4/1/2014 corporate bond Fixed interest-rate PLN 34,400,000 1,000 8 1/31/2017
    PRAGMA FAKTORING PRF0218 PLGFPRE00107 3/25/2015 corporate bond Floating interest-rate PLN 10,000,000 1,000 5.98 2/19/2018
    PRAGMA FAKTORING PRF0418 PLGFPRE00115 5/22/2015 corporate bond Floating interest-rate PLN 10,000,000 1,000 5.73 4/23/2018
    PRAGMA FAKTORING PRF1216 PLGFPRE00099 1/30/2015 corporate bond Floating interest-rate PLN 20,000,000 1,000 6.22 12/19/2016
    PRAGMA INKASO PRI0518 PLPRGNK00066 7/15/2015 corporate bond Floating interest-rate PLN 5,500,000 1,000 5.73 5/22/2018
    PRAGMA INKASO PRI1117 PLPRGNK00058 12/10/2014 corporate bond Floating interest-rate PLN 10,000,000 1,000 6.23 11/14/2017
    PRAGMA INWESTYCJE PIN1016 PLPRINW00042 11/8/2013 corporate bond Floating interest-rate PLN 10,000,000 1,000 6.31 10/10/2016
    PRIME MINERALS SPÓŁKA AKCYJNA CCA0216 PLCRTCP00036 4/15/2014 corporate bond Fixed interest-rate PLN 802,000 1,000 9 2/5/2016
    Property Lease Fund PLE0616 PLLSGEX00032 8/14/2014 corporate bond Floating interest-rate PLN 3,000,000 1,000 9 6/5/2016
    Property Lease Fund PLE0916 PLLSGEX00040 1/7/2015 corporate bond Fixed interest-rate PLN 5,000,000 1,000 9 9/17/2016
    Property Lease Fund PLE1216 PLLSGEX00057 11/13/2015 corporate bond Fixed interest-rate PLN 2,724,000 1,000 9 12/23/2016
    PRZEMYŚL PRZ0924 PL0022200014 3/6/2013 municipal bond Floating interest-rate PLN 4,070,000 1,000 3.65 9/10/2024
    PRZEMYŚL PRZ1025 PL0022200022 3/6/2013 municipal bond Floating interest-rate PLN 4,070,000 1,000 3.66 10/16/2025
    PRZEMYŚL PRZ1226 PL0022200030 3/6/2013 municipal bond Floating interest-rate PLN 4,070,000 1,000 3.64 12/20/2026
    PRZEMYŚL PRZ1227 PL0022200048 3/6/2013 municipal bond Floating interest-rate PLN 4,070,000 1,000 3.64 12/20/2027
    PRZEMYŚL PRZ1228 PL0022200055 3/6/2013 municipal bond Floating interest-rate PLN 4,070,000 1,000 3.64 12/20/2028
    PRZEMYŚL PRZ1229 PL0022200063 3/6/2013 municipal bond Floating interest-rate PLN 4,070,000 1,000 3.64 12/20/2029
    PTI PTI0816 PLPTIW000055 12/17/2014 corporate bond Floating interest-rate PLN 1,455,000 1,000 7.79 8/1/2016
    PZU FINANCE AB PZU0719 XS1082661551 12/22/2014 corporate bond Fixed interest-rate EUR 500,000,000 100,000 1.38 7/3/2019
    RANK PROGRESS RNK0616 PLRNKPR00048 8/12/2013 corporate bond Floating interest-rate PLN 130,806,000 1,000 7.27 6/14/2016
    REGIS RGS0717 PLREGIS00014 2/11/2015 corporate bond Floating interest-rate PLN 7,570,000 1,000 6.73 7/29/2017
    ROBINSON EUROPE RBS1017 PLRBSNE00023 3/19/2015 corporate bond Floating interest-rate PLN 1,027,000 1,000 8.73 10/17/2017
    ROBYG ROB0218 PLROBYG00156 4/3/2014 corporate bond Floating interest-rate PLN 45,000,000 100 5.8 2/26/2018
    ROBYG ROB0219 PLROBYG00180 9/29/2015 corporate bond Floating interest-rate PLN 20,000,000 100 4.59 2/6/2019
    ROBYG ROB0616 PLROBYG00123 7/9/2013 corporate bond Floating interest-rate PLN 90,000,000 1,000 6.28 6/23/2016
    ROBYG ROB1216 PLROBYG00149 2/26/2014 corporate bond Floating interest-rate PLN 18,000,000 100 5.28 12/20/2016
    ROBYG ROG0218 PLROBYG00164 4/24/2014 corporate bond Floating interest-rate PLN 15,000,000 100 5.72 2/26/2018
    RONSON EUROPE RON0119 PLRNSER00086 4/8/2015 corporate bond Floating interest-rate PLN 10,000,000 100 5.79 1/25/2019
    RONSON EUROPE RON0218 PLRNSER00060 9/3/2014 corporate bond Floating interest-rate PLN 5,000,000 100 6.05 2/23/2018
    RONSON EUROPE RON0419 PLRNSER00094 6/2/2015 corporate bond Floating interest-rate PLN 15,500,000 1,000 5.41 4/19/2019
    RONSON EUROPE RON0518 PLRNSER00078 11/12/2014 corporate bond Floating interest-rate PLN 28,000,000 100 5.3 5/20/2018
    RONSON EUROPE RON0616 PLRNSER00045 8/14/2013 corporate bond Floating interest-rate PLN 23,550,000 1,000 6.32 6/14/2016
    RONSON EUROPE RON0617 PLRNSER00037 8/14/2013 corporate bond Floating interest-rate PLN 83,500,000 1,000 5.52 6/14/2017
    RONSON EUROPE RON0619 PLRNSER00102 7/17/2015 corporate bond Floating interest-rate PLN 4,500,000 100 5.38 6/18/2019
    RONSON EUROPE RON0716 PLRNSER00052 10/4/2013 corporate bond Floating interest-rate PLN 9,250,000 1,000 6.34 7/15/2016
    SALWIRAK SAL0317 PLSLWRK00012 8/21/2015 corporate bond Floating interest-rate PLN 5,000,000 1,000 7.32 3/6/2017
    SIEDLCE SID1131 PL0021200080 3/7/2013 municipal bond Floating interest-rate PLN 1,900,000 1,000 3.65 11/25/2031
    SIEDLCE SID1133 PL0021200130 3/28/2014 municipal bond Floating interest-rate PLN 40,000,000 1,000 3.4 11/25/2033
    SIEDLCE SIE1123 PL0021200122 3/28/2014 municipal bond Floating interest-rate PLN 20,000,000 1,000 3.4 11/25/2023
    SIEDLCE SIE1125 PL0021200015 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2025
    SIEDLCE SIE1126 PL0021200023 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2026
    SIEDLCE SIE1127 PL0021200031 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2027
    SIEDLCE SIE1128 PL0021200049 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2028
    SIEDLCE SIE1129 PL0021200056 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2029
    SIEDLCE SIE1130 PL0021200064 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2030
    SIEDLCE SIE1131 PL0021200072 3/7/2013 municipal bond Floating interest-rate PLN 700,000 1,000 3.65 11/25/2031
    SIEDLCE SIE1132 PL0021200098 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2032
    SIEDLCE SIE1133 PL0021200106 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2033
    SIEDLCE SIE1134 PL0021200114 3/7/2013 municipal bond Floating interest-rate PLN 2,500,000 1,000 3.65 11/25/2034
    SMS KREDYT HOLDING SMS0418 PLSMSKH00043 6/19/2015 corporate bond Fixed interest-rate PLN 3,011,000 1,000 9 4/29/2018
    SMS KREDYT HOLDING SMS0716 PLSMSKH00035 10/17/2014 corporate bond Floating interest-rate PLN 4,062,000 1,000 9.55 7/29/2016
    SMT SMT0917 PLADVPL00052 3/27/2015 corporate bond Floating interest-rate PLN 7,000,000 1,000 6.55 9/28/2017
    STATE TREASURY DS0725 PL0000108197 6/10/2014 treasury bond Fixed interest-rate PLN 28,428,531,000 1,000 3.25 7/25/2025
    STATE TREASURY DS0726 PL0000108866 9/15/2015 treasury bond Fixed interest-rate PLN 6,972,080,000 1,000 2.5 7/25/2026
    STATE TREASURY DS1017 PL0000104543 10/27/2006 treasury bond Fixed interest-rate PLN 22,901,361,000 1,000 5.25 10/25/2017
    STATE TREASURY DS1019 PL0000105441 10/28/2008 treasury bond Fixed interest-rate PLN 18,701,079,000 1,000 5.5 10/25/2019
    STATE TREASURY DS1020 PL0000106126 4/19/2010 treasury bond Fixed interest-rate PLN 18,026,415,000 1,000 5.25 10/25/2020
    STATE TREASURY DS1021 PL0000106670 7/26/2011 treasury bond Fixed interest-rate PLN 16,181,628,000 1,000 5.75 10/25/2021
    STATE TREASURY DS1023 PL0000107264 10/26/2012 treasury bond Fixed interest-rate PLN 26,786,861,000 1,000 4 10/25/2023
    STATE TREASURY IZ0816 PL0000103529 9/2/2004 treasury bond Indexed PLN 3,689,149,000 1,266 3 8/24/2016
    STATE TREASURY IZ0823 PL0000105359 8/26/2008 treasury bond Indexed PLN 2,623,100,000 1,145 2.75 8/25/2023
    STATE TREASURY OK0116 PL0000107587 6/24/2013 treasury bond Zero-coupon PLN 16,909,630,000 1,000 0 1/25/2016
    STATE TREASURY OK0716 PL0000107926 1/28/2014 treasury bond Zero-coupon PLN 12,588,710,000 1,000 0 7/25/2016
    STATE TREASURY OK0717 PL0000108502 1/27/2015 treasury bond Zero-coupon PLN 11,532,500,000 1,000 0 7/25/2017
    STATE TREASURY PS0416 PL0000106340 10/18/2010 treasury bond Fixed interest-rate PLN 19,579,894,000 1,000 5 4/25/2016
    STATE TREASURY PS0417 PL0000107058 5/21/2012 treasury bond Fixed interest-rate PLN 16,382,096,000 1,000 4.75 4/25/2017
    STATE TREASURY PS0418 PL0000107314 11/13/2012 treasury bond Fixed interest-rate PLN 19,936,294,000 1,000 3.75 4/25/2018
    STATE TREASURY PS0420 PL0000108510 1/27/2015 treasury bond Fixed interest-rate PLN 29,681,368,000 1,000 1.5 4/25/2020
    STATE TREASURY PS0421 PL0000108916 10/13/2015 treasury bond Fixed interest-rate PLN 14,005,639,000 1,000 2 4/25/2021
    STATE TREASURY PS0718 PL0000107595 5/14/2013 treasury bond Fixed interest-rate PLN 25,506,659,000 1,000 2.5 7/25/2018
    STATE TREASURY PS0719 PL0000108148 5/13/2014 treasury bond Fixed interest-rate PLN 22,876,467,000 1,000 3.25 7/25/2019
    STATE TREASURY PS1016 PL0000106795 10/26/2011 treasury bond Fixed interest-rate PLN 23,985,260,000 1,000 4.75 10/25/2016
    STATE TREASURY WS0428 PL0000107611 5/21/2013 treasury bond Fixed interest-rate PLN 1,072,738,000 1,000 2.75 4/25/2028
    STATE TREASURY WS0429 PL0000105391 9/15/2008 treasury bond Fixed interest-rate PLN 8,529,338,000 1,000 5.75 4/25/2029
    STATE TREASURY WS0437 PL0000104857 6/18/2007 treasury bond Fixed interest-rate PLN 1,246,504,000 1,000 5 4/25/2037
    STATE TREASURY WS0922 PL0000102646 4/24/2002 treasury bond Fixed interest-rate PLN 22,529,065,000 1,000 5.75 9/23/2022
    STATE TREASURY WZ0117 PL0000106936 2/21/2012 treasury bond Floating interest-rate PLN 19,207,523,000 1,000 1.79 1/25/2017
    STATE TREASURY WZ0118 PL0000104717 2/19/2007 treasury bond Floating interest-rate PLN 20,874,222,000 1,000 1.79 1/25/2018
    STATE TREASURY WZ0119 PL0000107603 6/11/2013 treasury bond Floating interest-rate PLN 22,233,355,000 1,000 1.79 1/25/2019
    STATE TREASURY WZ0120 PL0000108601 3/31/2015 treasury bond Floating interest-rate PLN 8,935,929,000 1,000 1.79 1/25/2020
    STATE TREASURY WZ0121 PL0000106068 3/22/2010 treasury bond Floating interest-rate PLN 21,153,350,000 1,000 1.79 1/25/2021
    STATE TREASURY WZ0124 PL0000107454 2/18/2013 treasury bond Floating interest-rate PLN 25,984,089,000 1,000 1.79 1/25/2024
    STATE TREASURY WZ0126 PL0000108817 8/11/2015 treasury bond Floating interest-rate PLN 2,752,000,000 1,000 1.79 1/25/2026
    STATE TREASURY EUR0119 XS0874841066 4/13/2015 treasury bond Fixed interest-rate EUR 1,675,000,000 1,000 1.63 1/15/2019
    STATE TREASURY EUR0124 XS1015428821 4/13/2015 treasury bond Fixed interest-rate EUR 2,000,000,000 1,000 3 1/15/2024
    STATE TREASURY EUR0527 XS1209947271 4/13/2015 treasury bond Fixed interest-rate EUR 1,000,000,000 1,000 0.88 5/10/2027
    STATE TREASURY EUR0925 XS1288467605 9/11/2015 treasury bond Fixed interest-rate EUR 1,000,000,000 1,000 1.5 9/9/2025
    STATE TREASURY EUR1021 XS1306382364 10/19/2015 treasury bond Fixed interest-rate EUR 1,750,000,000 1,000 0.88 10/14/2021
    Summa Linguae Spółka Akcyjna SUL0717 PLSMLNG00028 6/22/2015 corporate bond Fixed interest-rate PLN 1,448,000 1,000 10 7/11/2017
    TCZEW TCZ0817 PL0008200053 10/28/2010 municipal bond Floating interest-rate PLN 2,000,000 1,000 2.59 8/25/2017
    TRAKCJA PRKiI TRJ1215 PLTRKPL00089 3/19/2013 corporate bond Floating interest-rate PLN 3,007,000 1,000 6.54 12/31/2015
    TRAKCJA PRKiI TRK1215 PLTRKPL00063 3/19/2013 corporate bond Floating interest-rate PLN 29,529,000 1,000 5.54 12/31/2015
    UNIBEP UNI0516 PLUNBEP00056 10/15/2013 corporate bond Floating interest-rate PLN 11,000,000 100 5 5/28/2016
    UNIBEP UNI0618 PLUNBEP00064 8/24/2015 corporate bond Floating interest-rate PLN 30,000,000 100 4.25 6/1/2018
    UNIDEVELOPMENT UND0317 PLUNDVL00014 9/18/2014 corporate bond Floating interest-rate PLN 20,000,000 1,000 6.8 3/7/2017
    VANTAGE DEVELOPMENT VTG0617 PLVTGDL00051 1/28/2015 corporate bond Floating interest-rate PLN 23,500,000 1,000 6.02 6/16/2017
    VANTAGE DEVELOPMENT VTG0618 PLVTGDL00044 12/3/2014 corporate bond Floating interest-rate PLN 13,260,000 1,000 6.67 6/16/2018
    VENITI VNT0316 PLVENIT00036 6/20/2014 corporate bond Fixed interest-rate PLN 355,000 1,000 9.7 3/28/2016
    VICTORIA DOM VDM0217 PLVCTDM00017 6/12/2014 corporate bond Floating interest-rate PLN 8,050,000 1,000 7.69 2/4/2017
    VICTORIA DOM VDM0618 PLVCTDM00025 9/7/2015 corporate bond Floating interest-rate PLN 15,000,000 1,000 7.38 6/25/2018
    VINDEXUS VIN1116 PLVNDEX00039 3/6/2014 corporate bond Floating interest-rate PLN 10,000,000 1,000 7.98 11/8/2016
    VOXEL VOL0716 PLVOXEL00055 8/7/2014 corporate bond Floating interest-rate PLN 10,000,000 1,000 6.29 7/11/2016
    VOXEL VOX0716 PLVOXEL00048 9/9/2013 corporate bond Floating interest-rate PLN 12,000,000 1,000 6.79 7/31/2016
    WAŁBRZYCH WAB1027 PL0020200040 12/2/2013 municipal bond Floating interest-rate PLN 20,000,000 1,000 3.51 10/1/2027
    WAŁBRZYCH WAL0925 PL0020200032 12/2/2013 municipal bond Floating interest-rate PLN 20,000,000 1,000 3.5 9/2/2025
    WAŁBRZYCH WAL1025 PL0020200016 12/12/2012 municipal bond Floating interest-rate PLN 30,000,000 1,000 4.01 10/8/2025
    WAŁBRZYCH WAL1027 PL0020200024 12/12/2012 municipal bond Floating interest-rate PLN 27,000,000 1,000 4.01 10/22/2027
    WARIMPEX WXB0316 PLWRMFB00016 5/15/2013 corporate bond Floating interest-rate PLN 63,065,000 1,000 8.8 3/31/2016
    WARSZAWA WAW0318 PL0003200074 4/20/2011 municipal bond Fixed interest-rate PLN 300,000,000 1,000 6.48 3/29/2018
    WARSZAWA WAW0321 PL0003200066 4/8/2011 municipal bond Fixed interest-rate PLN 300,000,000 1,000 6.64 3/18/2021
    WARSZAWA WAW0922 PL0003200025 2/24/2010 municipal bond Fixed interest-rate PLN 600,000,000 1,000 6.45 9/23/2022
    WARSZAWA WAW1017 PL0003200041 5/12/2010 municipal bond Fixed interest-rate PLN 300,000,000 1,000 5.35 10/25/2017
    WARSZAWA WAW1019 PL0003200017 9/30/2009 municipal bond Fixed interest-rate PLN 600,000,000 1,000 6.7 10/25/2019
    WIERZYCIEL WRL0516 PLWRZCL00048 8/11/2014 corporate bond Floating interest-rate PLN 2,000,000 1,000 9.6 5/13/2016
    WŁOCŁAWEK WCL1220 PL0018200028 2/21/2013 municipal bond Floating interest-rate PLN 50,000,000 1,000 3.79 12/20/2020
    WŁOCŁAWEK WCL1225 PL0018200010 10/17/2012 municipal bond Floating interest-rate PLN 30,000,000 1,000 4.64 12/20/2025
    WŁODARZEWSKA WLD0516 PLWDRZW00035 6/28/2013 corporate bond Floating interest-rate PLN 4,600,000 1,000 9.23 5/15/2016
    WŁODARZEWSKA WLO0516 PLWDRZW00043 6/28/2013 corporate bond Floating interest-rate PLN 17,500,000 1,000 9.23 5/15/2016
    WORK SERVICE WSE0317 PLWRKSR00076 6/19/2015 corporate bond Floating interest-rate PLN 20,000,000 1,000 4.22 3/30/2017
    WORK SERVICE WSE0717 PLWRKSR00068 9/26/2014 corporate bond Floating interest-rate PLN 25,000,000 1,000 7.19 7/8/2017
    WORK SERVICE WSE1016 PLWRKSR00050 12/4/2013 corporate bond Floating interest-rate PLN 55,000,000 1,000 6.47 10/4/2016
    ZM HENRYK KANIA KAN0318 PLIZNS000071 7/6/2015 corporate bond Floating interest-rate PLN 25,000,000 1,000 6.27 3/30/2018
    ZM HENRYK KANIA KAN1117 PLIZNS000063 7/6/2015 corporate bond Floating interest-rate PLN 45,000,000 1,000 6.47 11/26/2017
    ZM ROPCZYCE RPC0519 PLROPCE00025 7/22/2014 corporate bond Floating interest-rate EUR 4,000,000 100 3 5/15/2019

Schedule of Trading Conditions and Fees for Warsaw Stock Exchange Accounts as of November 2, 2015 Trading Account Fees

Fees Initial Amount of Deposit in the Trading Account*
Less than
PLN 50 000
PLN 50 000 to
PLN 500 000
Above
PLN 500 000
Opening and Maintenance of Trading Account Free**
Depositing of Funds into Trading Account Free**
Market Data Access, monthly 5 Best Quotes PLN 80.10 for Polish accounts, PLN 100 for the rest
1 Best Quote PLN 12.4 for
Polish accounts,
PLN 20 for the rest
Free Free
Transaction in Shares & ETFs, per transaction, as % of the transaction volume 0.39%, but no less
than PLN 5
0.30%, but no less
than PLN 5
0.25%, but no
less than PLN 5
Transfer of Securities to Accounts outside Teletrade, % of the Market Value of Securities 0.5%, but no less than PLN 50
Withdrawal of Funds from Trading Account, per transfer request PLN 15**
Interest on negative cash balances / limit excesses, p.a. 10%
Issuance of paper statements, certificates, extracts etc, per 1 document PLN 30

* based on the amount of the initial deposit put into the WSE trading account after opening, without any adjustment or allowance for any subsequent additional transfers.

** doesn’t include bank fees for funds transfer and currency conversion (if applicable) that are charged from Client’s account.

TeleTrade-DJ International Consulting Ltd reserves the right to change the Fees by giving to the Client a prior five (5) Business Days written notice, which shall state the date that the amendments will start having effect and the continuation of the Client’s acceptance of the Services provided by the Company shall be deemed to be on acceptance of such amended terms by the Client.

Currency of Accounts

Client should be fully aware that trading on Warsaw Stock Exchange is conducted in Polish Złoty (PLN). All quotations and market data available via the Client’s Trading Terminal are also denominated in PLN. Therefore, the currency of the Client’s WSE trading account is also PLN. Any Client funds deposited into the WSE trading account will be converted into PLN at the current exchange rate of the servicing bank through which the depositing of Client funds take place. Such conversion is done at the Client’s expense. Applicable currency conversion rates of Bank of Cyprus can be found at: http://www.bankofcyprus.com.cy/en-GB/Cyprus/Services--Rates/Exchange-Rates/. Clients are advised to check the above exchange rates before proceeding with transfer of their funds.

Applicable Rules of the Marketplace

Client is strongly encouraged to familiarize with the general Rules of Warsaw Stock Exchange and the Detailed Exchange Trading Rules in UTP System prior to commencing their trading operations. The above documents contain important and consequential details of the Exchange’s functioning that are not a subject of Operative Agreement, yet that may have substantial impact on the Client’s trading operations. The Client also has to be aware that important market communiqués may be made via the Exchange’s Alert List. Clients must maintain access to and acquaint themselves with relevant provisions of all applicable rules and regulations of the Exchange, and with any updates thereof.

Trading Days and Market Hours

Trading takes place on all days Monday to Friday - except Public holidays in Poland, which for 2015 are January 1, January 6, April 3, April 6, May 1, June 4, November 11, December 24, December 25, and December 31 – during the following hours (CEST):

Trading Session Main Market - Shares Main Market – ETFs Index, Stock and Currency Futures Interest and T-Bond Futures
Pre-opening 08:30 – 09:00 08:30 – 09:05 08:30 – 08:45 08:30 – 09:00
Opening auction 09:00 09:00 08:45 09:00
Continuous trading 09:00 – 16:50 09:00 – 16:50 08:45 – 16:50 09:00 – 17:00
Pre-closing 16:50 – 17:00 16:50 – 17:00 16:50 – 17:00 16:50 – 17:00
Closing auction 17:00 17:00 17:00 -
Post-auction trading 17:00 – 17:05 17:00 – 17:05 17:00 – 17:05 -

Market hours are subject to changes by the Exchange. Client is encouraged to periodically check the Exchange’s current time schedule available at: http://gpw.pl/harmonogram/index_en.php?page=1.

TeleTrade Agreements and Policies Governing Trading at WSE

Terms and Conditions of Securities Accounts

Best Execution Policy

Client Agreement

Deposit & Withdrawals Policy for Trading on a Regulated Market

Risk Disclosure and Acknowledgement

Tutorials

  • Registration of a Personal Page

    In case you haven’t had a trading account with Teletrade before, please proceed to create your personal TeleTrade page first. For that, please click ‘Open an account’ button and then press ‘Continue’.

    In the registration page that appears please put down your first name, your mobile phone and your email address. Your mobile phone will be used for identification and setting up a password. Your email address TeleTrade will use to send important communications, trade confirmations and account statements.

    Further, please select the location of the TeleTrade office closest to where you are. This is going to be the office that will manage your account. In case you believe the automated detection of the closest TeleTrade office is not correct, you can tick ‘Show all’ and select the applicable office manually from the drop down list. Click on the ‘Registration’ button to proceed to create your personal page.

    Upon creation of your personal page, an email and a text message containing your login detail will have been sent to your email address and phone number. You can now proceed to set up your personal page and confirm your contact detail so as to enable opening of the trading accounts.

    Please go to ‘Account Details’, ‘Personal Data’. At this stage you will be prompted to verify your email and phone address. Upon clicking on ‘Verify’ or ‘Change’, verification codes will be sent to your email address and phone number on file with TeleTrade. Please enter these verification codes into respective fields to get both your email address and phone number confirmed with TeleTrade.

    Now please click ‘Edit’. Fill in your Surname, Middle or Second name if it shows on your ID, your date of birth, the serial number of your ID. Upload a scanned copy of your ID. Please note that the image of the document should be legible and must contain a photo of the holder and the serial number of the document. Please also note that you may be asked to physically present the original of your ID to your local TeleTrade office, or to submit a certified copy by post for verification purposes.

    Please fill in your contact detail, and attach a document confirming the address on file with TeleTrade. Such document could be a utility bill, a bank statement, a tax authority bill, or a certificate issued by address registration bureau or equivalent authority. At any rate, the document has to clearly show issuance date, your name and your address, and should be not older than six months as of the submission date. Please click ‘Save’ to store your inputs in your personal profile with TeleTrade.

  • Registration of a WSE Account Page

    The following steps should be taken in order to create a WSE Account Page after a Client’s persnal page has been created at the TeleTrade web site.

    Please proceed to the ‘Investments’ item in the personal page menu on the left hand side, and select ‘Warsaw Stock Exchange’. You will be directed to the online questionnaire containing a series of questions on your personal detail, financial background, trading experience and your trading goals on WSE.

    First please fill in your personal detail such as Gender, education, citizenship, date of expiry of your ID and landline telephone number, if applicable. Please note that your name, address, date of birth and ID number are copied from your general personal detail that you inputted during creation of your personal page. In case you or your immediate family member hold a position in any governmental body, or held it in the last 12 months, please indicate this in the Public Function checkbox, and provide information on the title of the position held, name of governmental body and degree of relationship, in case the above relates to a family member.

    In the ‘Financial Background’ section, please choose the most appropriate selection for your employment status, and provide necessary specifics. Also, please indicate the net income and net worth brackets that apply to you, and the major source of funds that will be used for trading as well as the approximate amount of your first deposit. Please note that the amount of your initial deposit may have implications as for the amount of discount applicable to your trading fees. Please check the current version of Trading Conditions and Fees prior to making your initial deposit.

    In the ‘Trading Experience’ section, please provide details of your prior trading experience – how long and how often you have been trading before, and how sizeable your trades have been. Also, please indicate if you have previously attended any educational events, or assumed any job responsibilities, or operated a demo trading account, or otherwise obtained experience or qualifications useful for trading on stock exchange. Please note the risk warning that appears based on your answers.

    In the ‘Fitness Test’ section, please answer three questions relating to your previous trading experience, so as to let us determine whether you could be considered a professional investor within the European regulatory meaning.

    In the concluding detail, please inform us of the intended purpose of your trading, and expected frequency and size of trades that you intend to make. In case you, or any of your related persons, is a director or senior officer of a company admitted to the Regulated Market that you intend to trade in, or an authorized person on account, or a beneficial owner of more than a 10% stake in such a company, please indicate this fact, and identify such company and the position of a person at question.

    Please carefully study all of the attached agreements. They contain detailed description of services provided by TeleTrade as well as important information regarding conditions of these services, your rights and responsibilities in relation to TeleTrade, and disclosure of risks inherent in trading and investing in stock market. Note that by filling in checkboxes against the names of agreements you explicitly acknowledge that you read, understood and accepted the terms of such agreements.

    By pressing ‘Next’, your finish editing the profiling questionnaire. Please note that once the questionnaire is recorded in the TeleTrade data storage, it will not be available for further editing other by communicating necessary changes to our customer support. If all required fields have been completed correctly, you will be redirected to your WSE Account page.

  • Setting Up Trading Terminal and Trading Account

    Once your WSE Account Page has been created, you can proceed to set up a trading account and link it to your trading terminal. Please unfold the article on ‘Terminal downloading and installation’, and find a link to the archive with the terminal application.

    Download it to a known location, unzip and run the QUIK executable file. Choose the suitable and easily accessible location for the terminal files. You will need access to the QUIK folder later on to be able to install your personal keys, so the shorter is the path, the easier it will be to subsequently locate the application files. Proceed with the installation procedure as suggested. Don’t launch for now. Open your File Explorer and locate the folder with QUIK files, a subfolder called KeyGenEng. Run the application named KeyGen. In the application, please choose where your key files will be placed, which is the folder called REALkey found inside your QUIK installation.

    Type in your desired login and your password. Confirm your password.

    Press ‘Next’ as the program prompts for the file public keys of systems since the default Teletrade key link is correct.

    Press ‘Finish’ on the summary of keys parameters to complete the creation of keys.

    Now, in the REALkey folder you will see files called pubring.txk and secring.txk. This is the electronic key that will be used to personalize your instance of QUIK terminal and link it securely to your trading account. Secring.txk is the private part of the key, which you must store securely. Teletrade will never ask you to share the secring.txk file, and you should not, under any conditions, share it with anyone. Pubring.txk is the public part of the key that Teletrade will need to establish dedicated and secure connection with your terminal. Please upload this Pubring.txk file to the ‘Files’ section of the ‘Account Details’ of your personal page.

    After that, return to the WSE account page and send a ticket to TeleTrade’s support to request registration of your QUIK record with your trading account. Please file the ticket under ‘Registration of the QUIK key and WSE trading account’, and inform us that you uploaded your public key, and also of the fee plan that you chose. Please check with the current Schedule of Trading Conditions and Fees to see what plans are available. Press ‘Create Ticket’ to submit your request. You will be notified when it will have been processed by TeleTrade.

    You will receive a message in the ‘Support > Question’ section of your personal page, containing confirmation of the account registration.

    Your WSE Account Page will now show the Account box that will take you to the account data where you will see your trading data (which of course is empty at this stage), a tab containing payment detail for depositing funds into the account, and a tab for phone service password creation.

    Please create a phone service password to be eligible to place or amend your orders by phone in cases when your terminal application is not accessible or you don’t have internet connection.

    Currently, your account has zero balance. You can deposit cash into your account so as to enable TeleTrade allocate you a trading limit by a bank transfer. Details for the transfer for your specific account are generated in your WSE account page upon pressing ‘details for depositing’ button. Please note that you should send your funds to TeleTrade with the exact details generated by your personal WSE account page. These detail contain your account identification, in the absence of which there may be delays in placing your funds into your account.

  • Launching and Customizing Trading Terminal

    Now that your trading account has been opened, and your terminal has been registered by Teletrade, you can launch QUIK.

    In case you see any warnings from Windows Protection or from your antivirus software, please add QUIK to the respective list of exceptions and allow it to run. QUIK is guaranteed by TeleTrade to be free of malware.

    In the ‘User Identification’ window that pops up after the launch of QUIK, please input your User Name and your Password, exactly as you specified them when you created your QUIK electronic keys via KeyGenEng.

    Also, make sure that the connection is set as ‘TeleTRADECY 91.228.228.83:15100’. It is originally pre-defined this way, yet, it could have changed in case you previously tried demo access to simulated environment.

    In case all of the above were done correctly, you will see a message from QUIK server that connection is successfully established. Also, you will see a green indicator dot in the bottom right corner of the terminal screen. You will also notice that the upper left corner of the terminal shows the number of your Personal Page at the Teletrade website, and that both cash and securities limit table show your trading account number.

    In case QUIK reports that connection cannot be established (the indicator in bottom right corner is yellow or red, or an error message from QUIK shows up), please verify that your electronic keys are indeed placed in the ‘REALkey’ folder of the QUIK installation, that you provide the very same login and password that you selected during the creation of electronic keys, that you have internet connection and that QUIK’s connectivity is not jammed by antivirus or firewall software installed on your PC. In case you still experience some issues that prevent QUIK from connecting, please send us a ticket from your WSE personal page, under Warsaw Stock Exchange > Issues with QUIK Terminal.

    Your trading terminal comes pre-set by Teletrade to show the most important windows:

    • Quotes – showing current quotes for all available instruments
    • Level II Quotes – showing depth of trading interest at different quote levels, for both buying and selling
    • Charts – showing historical price and trading data on the selected financial instrument
    • Cash limits – showing your funds available for trading, adjusted for unfulfilled buy orders and unsettled ‘sell’ orders
    • Securities limits - showing your positions in securities, including those allocated for pending sale orders

    Additional tables that are not yet on the screen, but can easily be invoked from the ‘Create window’ menu are:

    • Time and sales – showing all transactions taking place in the market and updating in real time
    • Trades – history of your trades during the current trading session
    • Orders – your orders submitted, withdrawn, executed or pending during the current trading session
    • Account state – extended information on cash and securities positions in your account

    Please note that by default, all windows containing market data are linked by means of having the anchor button on. This results in all windows showing information on the same financial instrument selected in the ‘Quotes’ window. Unpressing the anchor button will allow you to see different instruments in different windows simultaneously.

    All informational windows can be customized to provide content and representation of data that suit your specific needs best. For that, right-click on the window that you would like to customize and select ‘Edit Table’. For instance, for the ‘Quotes’ window you can select instruments you would like to see, and the specific parameters you are interested in. For the ‘Charts’ window, you can change appearance, grid and colours of the charts, and also add parameters that you are interested in. In the ‘Level II Quotes’ you can customize appearance of quotes, colours, and header parameters.

    You can also rearrange windows to your best convenience and have them fixed to a specific part of your QUIK desktop by ‘docking’ them. Also, you can remove window headings to save space, and also make selected window to always appear on top, unobscured by other windows that you have on the desktop.

  • Submitting Orders in Trading Terminal

    There are several ways to submit trading instructions in the Terminal, depending on the type of the order and your preferences. The simplest way is to select the desired security in the Quotes window, and press F2 or right-click on it and select ‘New Order’.

    In the menu that appears, please indicate the direction of trade (Buy or Sell), make sure Trading Account shows ‘WSE_CL’, put down price and quantity of your trade, and select your trading account in the Client Code field. Please note that you can either specify buy or sell price explicitly, which will result in a Limit Order, or can instruct the terminal to accept best market price for your trade available for execution. In the former case, please input your target price into the Price field. In the latter case, please tick ‘Market’ checkbox below. In either case, the terminal will prompt you on the maximum quantity of securities to be bought, based on the relevant price, and the available cash balance in your account. Also, you can specify Execution condition for your order, i.e. Put in queue (in which case your order will be stand until it is fully filled at the price you specified), Fill or Kill (in which case your order will either be filled in full quantity at once, or will be cancelled in full), or Withdraw balance (in which case the order will be filled at your target price to an extent current market supply allows, and the unfilled balance will be cancelled).

    Upon pressing ‘Ok’, you will see a summary of your order with all essential conditions. You should check carefully before confirming it. While you may be able to promptly withdraw a limit order in case you realize it was placed in an error, it is not possible to withdraw a market order since it will typically get executed within split seconds.

    If all order parameters are correct, you will get a message confirming that your orders has been successfully routed into the order book of the exchange. In case you, by mistake, submitted an order to sell more securities than you have, or securities for which another sell order is already pending, or an order to buy securities in excess of your available cash limit, you will get a notification about limit excess, and you order will not have been routed to the exchange.

    In case of market orders, you would expect your order to be executed immediately and information about such execution to be updated in your terminal within seconds. You will see, in the window ‘Table of Orders’, your order showing as ‘Filled’, and in the window ‘Trade tables’ you will also see the record of respective transaction, showing actual price of the transaction and the number of securities transacted. Also, the transaction will be reflected in the window ‘Table of limits for securities’, where you will see the list of available securities changed.

    In case of limit orders, your order will be executed upon your limit condition being met in the marketplace. Until then, a limit order will be pending execution, and you will see it marked as Active in the ‘Table of orders’ window. Also, you will see the amount of funds necessary to execute the transaction shown as ‘Reserved’ in the Cash Limit Table. If limit conditions are not met till the end of the trading session, the order will be automatically removed from the trading book of the Exchange at the market close, and respective cash limits will be recalculated.

    Stop orders can be placed in a similar way, by selecting the desired security in the Quotes or Table of Limits for Securities window, and then pressing F6 or right-clicking on it and selecting ‘New Stop Order’.

    For a stop order, you’ll be asked to provide validity period (which could be Today, a defined date, or Good Till Cancelled), limit order conditions (direction of trade, price and quantity of securities), and also a condition that activates your limit order. Such condition could be a stop price for the traded instrument, a stop price for another instrument, take profit offset and spread, or an execution of a linked order. Upon execution, stop orders will show up as completed trades in the same Trade Table window, as market or limit orders.

    Placed stop orders will be seen separately from market and limit orders, in a window called ‘Table of Spot Orders’, as Active, or Filled upon their execution. Please note that stop orders that are not executed within a trading session will not be withdrawn as market or limit orders, but will rather be carried over to the next trading session so long as specified in your Validity condition. For example, Good Till Cancelled orders will be carried over and over indefinitely until it executes or is explicitly cancelled.

    The alternative way of placing a market or a limit order is to directly match an available market offering showing in the Level II Quotes window. This window shows Buy and Sell offers currently outstanding in the Exchange’s order book, ranked by price. By clicking on a specific offer, you’ll be able to complete a matching offer in the New Order form, with the price and quantity of the securities being already matched to the market offer that you selected.

    Yet another possible way to place an order is to do it directly from the Charts window. Please hold down Ctrl button and left-click on the chart at the price level that you chose. This will invoke the New Order form, with the Instrument and Price field already filled with the corresponding values from the chart. The rest of the New Order form is empty and is to be completed as discussed previously.

  • Personal Page and Client Statements

    While the results of the transactions that you made will be immediately available online in the QUIK terminal, in the Trades table, please note that this information will only be kept by the terminal till the end of the current trading session. At the next market opening, all information on trades and outstanding orders will be cleared. You will, however, still be able to access to and analyze the historical information on your transactions, your trading portfolio and your fees from 2 auxiliary sources.

    First, after the market close, information on your trades is added to the online archive of your trading data available in your WSE personal page. The page shows securities currently held in your trading account (Open Positions), the entire history of your transactions (Trades), and the entire history of account deposits, withdrawal and charges (Non-Trading Operations). You can select a specific time period for which the data will be displayed, and you can sort the data by each of the data types.

    Second, every day that you made a transaction, or that one of your earlier transaction has cleared, or that a fee was charged to your account, and also as of the end of each month, you will receive a transaction confirmation from TeleTrade in the form of an email statement. You can see the sample of such a statement here. The statement will show all orders executed on the statement date, all orders settled on the statement date, the list of orders executed, but not yet settled as of the statement date, all non-trading operations (trading or non-trading fees, cash deposits or withdrawals), and also balances of cash and securities in your trading account. Please note that statement will clearly identify settled vs. unsettled securities, as well as free cash balances vs. cash balances blocked to secure payment for unsettled securities.

QUIK Trading Platform

quik QUIK is a sophisticated platform providing online access to the Warsaw Stock Exchange trading system. It is one of the most popular trading platforms enabling access to multiple foreign exchanges, through the same technical environment. QUIK is being used by more than 250 financial companies for servicing thousands of clients around the world. Developer of QUIK, ARQA Technologies, is duly recognized as an Independent Software Vendor co-operating with WSE.

By using the QUIK platform, you can:

  • View registration and trading information on all instruments traded on the WSE (ISIN, market segment, face value, price step, current accrued interest on debt securities etc);
  • View, customize, and export market data, including history of quotes and trades executed on the respective exchange;
  • Use a variety of build-in technical analysis tools on the market data;
  • Submit, withdraw or modify orders of all types, including deferred and conditional orders, machine-generated orders and off-chart orders;
  • Monitor status of orders and account limits in real-time.
Download QuikSetup Download Quik manual

Benefits of using QUIK

  • Access to WSE markets and trading modes from the same platform.
  • Margin trading with automatically monitored adequacy of client funds.
  • Dynamic revaluation of current positions and placement of contingent orders for long and short positions.
  • Online monitoring of the user’s portfolio value and the amount of available margin funds.
  • Reliable protection of confidential information.
  • Graphical analysis of the price charts.
  • Ability to import / export data (text files, DDE and ODBC).
  • Integrated Lua language for building tables and further programming to display trading strategies.
  • Data transmission through an optimized protocol, which significantly reduces Internet traffic.

Becoming a customer

Registration of Client accounts is available online at the TeleTrade’s web site.

Individual clients should proceed with the registration by default and provide requested information to establish an individual account.

Corporate clients should choose "Registration for legal entities", and then open a corporate account in the name of the person properly authorized by the respective company for managing and operating the account.

For individual accounts, the following documents would be required to be scanned and uploaded to the TeleTrade’s web site, and subsequently delivered, as an original or a true certified copy, translated in English, to your local Teletrade office.

Passport copy or National ID card if the client does not have a passport. The document must show a photo of the holder and a serial number.
2. Proof of residence - this document can be in the form of a utility bill (electricity, water or landline telephone bill, home internet bill), local authority tax bill, bank statement or other equivalent document showing the client’s full name and should be dated within the last 6 months. Depending on the country of origin this may include the following additional documents and will be considered on a case by case basis.

The same document cannot be used as proof of ID and address. Therefore in all cases 2 different documents must be submitted by Clients. Please note that images of the documents should be legible and clearly identify a documents serial number, issuance date and name of the issuing authority, as well as Client’s full name and address.

For corporate accounts, the same procedure as for individual accounts should be followed with respect to the authorized user of the account, and then an additional set of documents should be submitted to provide necessary detail on the account beneficiary:

1. Corporate client application fully filled in and signed by the company’s duly authorized signatory
2. Certificate of registered office
3. Memorandum and articles of association the Company
4. Certificate of Registered Shareholders
5. Certificate of Directors and Secretary
6. Certificate of Good Standing if the Company has been registered more than a year ago
7. Official Company Resolution to open a trading account and appoint authorised user
8. Copy of financial statements of the Company for the most recent financial period

Additional documents and information can be required, in which case TeleTrade will ask for it specifically.

INQUIRIES

Demo Account