Organisational and Regulatory framework

The Warsaw Stock Exchange was founded by the State Treasury as a non-profit joint-stock company. Its share capital stands at PLN 42 million, divided into 60,000 registered shares. The shares of the WSE may be purchased by banks, brokerage houses, the State Treasury, trust fund companies, insurance companies and the issuers of securities approved for public trading and listed on the WSE.

Legal framework

The legislative framework for exchange operations is provided by the following:

• Code of Commercial Companies of 2000
• Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies dated July 29, 2005
• Act on Trading in Financial Instruments dated July 29, 2005
• Act on Capital Market Supervision dated July 29th 2005
• the Warsaw Stock Exchange Statutes
• the Rules of the Warsaw Stock Exchange
• the Rules of the Stock Exchange Court.

General Meeting

The General Meeting is the WSE highest decision-making body. Its role is to put changes to the Statutes and Rules into effect and to elect members of the Supervisory Board. It consists of representatives of the State Treasury, banks and brokerage houses, WSE shareholders.

Supervisory Board

The Supervisory Board controls the operation of the exchange. It consists of 7 members appointed by the General Meeting.

Management Board

The Management Board co-ordinates the day-to-day operations of the WSE and introduces the securities to exchange trading. The Management Board consists of 4 members. The President, elected by the Supervisory Board for a three-year term, directs Management Board activities.