Transcript Slajd 1

INVESTORS
GPW 2007 – NOWA JAKOŚĆ
AND EXCHANGE TRADING
IN 2010
Survey Summary
Methodology
•
Survey format: questionnaire survey; respondents provided
exact figures;
•
Respondents: 28 domestic WSE Members;
•
Timing: January-February 2011;
•
Period covered: H2 2010, annual data aggregated based on
H1 and H2 results;
•
Functions of market makers and managers of clients’
portfolios considered a part of activities of a domestic
institutional investor;
•
Survey covered trading in sessions on the WSE;
2
MAIN LIST – SHARES
3
Key Developments
70
3000,0
2500,0
Trading in shares totalled over PLN 207
billion in 2010, up by 24% YoY;
•
WIG20 gained 14.8% in 2010, mWIG40
19.5% and sWIG80 10.2%;
•
There were 34 IPOs totalling PLN 15.6
billion.
50
2000,0
40
1500,0
30
1000,0
WIG20, quarter end
Value of trading (PLN billion)
60
•
20
500,0
10
0
0,0
Q1
Q2
Q3
Q4
4
Retail Investors
Share in trading (6 months)
28
18
Share in trading (12 months)
35
26
30
20
17
27
26
19
19
18
2008H1
2008H2
2009H1
2009H2
2010H1
2005
2010H2
2006
2007
2008
2009
2010
Online orders
and transactions
transactions
orders
63
68
50
60
74
65
73
76
74
69
70
72
49
29
2005
2006
2007
2008
2009
2010H1 2010H2
5
Institutional Investors
Share in trading (6 months)
Share in trading (12 months)
39
37
41
37
37
37
37
35
33
34
34
33
2008H1
2008H2
2009H1
2009H2
2010H1
2010H2
Domestic institutions (2010H1)
Other; 13
2005
2006
2007
2008
2009
2010
Domestic institutions (2010H2)
Other; 15
Asset
Management; 4
Dealers; 5
Market makers;
17
Pension funds;
21
Investment
funds; 37
Investment
funds; 44
Market makers;
22
Pension funds;
22
6
Foreign investors
Share in trading (6 months)
47
46
41
35
2008H1
2008H2
2009H1
Share in trading (12 months)
46
2009H2
2010H1
2010H2
47
43
41
37
2005
31
33
2006
2007
36
2008
2009
2010
Foreign brokers (2010H2)
Foreign brokers (2010H1)
Other; 13
Austria; 3
Other; 7
Hungary; 3
Belgium; 3
Austria; 6
Czech Rep.; 8
UK; 60
France; 13
UK; 84
7
NEWCONNECT
8
Key Developments
700
66
Trading in sessions totalled PLN 1.8 billion
in 2010 and more than tripled YoY;
•
NCIndex gained 27.6% in 2010, the
highest increase of all exchange indices;
•
Record-high number of 86 IPOs; the value
of IPOs totalled PLN 237 million, nearly 5
times more than in 2009.
64
600
62
500
60
400
58
300
56
NCI, quarter end
Value of trading (PLN billion)
•
200
54
100
52
0
50
Q1
Q2
Q3
Q4
9
Retail Investors
Share in trading (6 months)
92
91
92
Share in trading (12 months)
92
92
92
89
88
87
84
2008H1
2008H2
2009H1
2009H2
2010H1
2010H2
2007
2008
•
The share of on-line orders in total orders
on NewConnect was 81%;
•
Retail investors generated 85% of online
trading;
2009
2010
10
Institutional Investors
Share in trading (6 months)
Share in trading (12 months)
13
10
8
6
2008H1
7
7
6
5
2008H2
2009H1
2009H2
11
10
2010H1
2010H2
Domestic institutions (2010H1)
2007
2008
2009
2010
Domestic institutions (2010H2)
Other; 11
Other; 13
Dealers; 3
Companies; 35
Dealers; 7
Companies; 34
Investment
funds; 22
Investment
funds; 15
Market makers;
29
Market makers;
31
11
Foreign Investors
Share in trading (6 months)
Share in trading (12 months)
3
3
2
2008H1
1
1
2008H2
2009H1
2
2
2009H2
2010H1
2010H2
2007
2
2
2
2008
2009
2010
Foreign brokers (2010H2)
Foreign brokers (2010H1)
Austria; 23
Czech Rep.; 40
Other; 59
USA; 7
Other; 60
UK; 11
12
DERIVATIVES
13
Key Developments
4500
185
4000
180
•
The volume of trading in futures contracts
and options was record-high at 14.7
million instruments in 2010;
•
New futures contracts on shares of listed
companies were introduced to trading,
the number of market makers of
derivative instruments increased;
•
New short selling rules introduced in H2
will drive further growth of derivatives
trading;
175
3500
Volume of trading (thou.)
170
3000
160
2000
155
1500
150
1000
145
500
Number of open interest (thou.)
165
2500
140
135
0
Q1
Q2
Q3
Q4
14
Retail Investors – Contracts
Share in trading (6 months)
54
Share in trading (12 months)
54
52
52
51
47
2008H1
2008H2
2009H1
2009H2
2010H1
2010H2
Online orders and transactions
69
71
78
75
78
80
83
85
83
59
58
72
63
51
58
52
58
orders
2006H1
2006H2
2007H1
2007H2
2008H1
64
73
66
transactions
2008H2
2009H1
2009H2
2010H1
2010H2
15
Institutional Investors – Contracts
Share in trading (6 months)
Share in trading (12 months)
39
38
37
36
36
35
2008H1
2008H2
2009H1
2009H2
2010H1
2010H2
Domestic institutions (2010H1)
Domestic institutions (2010H2)
Other; 10
Other; 6
Dealers; 6
Dealers; 16
Investment
funds; 17
Market makers;
67
Investment
funds; 17
Market makers;
61
16
Foreign Investors – Contracts
Share in trading (6 months)
Share in trading (12 months)
Foreign brokers (2010H1)
Foreign brokers (2010H2)
Other; 5
Austria; 14
Czech Rep.; 1
Other; 18
France; 9
France; 4
Austria; 54
UK; 31
UK; 64
17
Retail Investors – Options
Share in trading (6 months)
Share in trading (12 months)
Online orders and transactions
61
65
67
68
81
73
86
85
70
69
86
87
79
91
79
69
59
49
49
orders
2006H1
89
2006H2
2007H1
2007H2
2008H1
transactions
2008H2
2009H1
2009H2
2010H1
2010H2
18
Institutional Investors – Options
Share in trading (6 months)
Share in trading (12 months)
Domestic institutions (2010H1)
Domestic institutions (2010H2)
Investment Other; 3
funds; 5
Other; 2
Investment
funds; 4
Banks; 9
Market makers;
27
Banks; 67
Market makers;
83
19
Foreign Investors – Options
Share in trading (6 months)
Share in trading (12 months)
Foreign brokers (2010H1)
Foreign brokers (2010H2)
UK; 1
Other; 3
Other; 19
Austria; 96
Austria; 9
UK; 72
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CATALYST
21
Key Developments
25
•
The number of listed instruments
increased from 35 in 2009 to 97 at 2010
YE; the value of issues totalled PLN 21.5
billion at 2010 YE;
•
The biggest category of listed bonds are
corporate bonds (41 issues) followed by
municipal bonds (27 series); 12 series of
co-operative bank bonds are in trading
since July;
•
Trading in bonds totalled PLN 751 million
in 2010, including over PLN 620 million of
corporate bonds.
120
100
80
15
60
10
40
5
20
0
0
Q1
Q2
value of issues
Q3
Number of issues, quarter end
Value of issues (PLN million)
20
Q4
number of instruments
22
SUMMARY
23
Number of Securities Accounts
Total accounts
total
822
877
997
Online accounts
773
active
1 444
1 099
880
192
219
239
166
255
2005
2006
2007
2008
2009
•
•
380
2010
Record-high IPOs organised by the State •
Treasury attracted new investors to the
stock exchange: the number of securities
accounts increased to a record-high 1.44
•
million
The number of active accounts (at least 1
transaction in the surveyed period) is
26%.
115
2005
187
2006
293
2007
352
2008
420
2009
2010
The number of online accounts operated
by brokers crossed the mark of 700
thousand for the first time ever
The number of online accounts has grown
by a factor of 7 since 2005, from 115
thousand to 773 thousand
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Summary – Percentage Share
Investors
Instruments
Foreign
Shares ML
2005
2006
2007
2008
2009
2010
41
31
33
43
36
47
3
2
2
2
Shares NC
Retail
Contracts
5
9
10
10
11
14
Options
1
3
12
12
4
12
26
35
30
18
27
19
92
92
88
87
Shares ML
Shares NC
Institutional
Contracts
77
66
56
53
52
50
Options
75
71
53
58
65
60
Shares ML
33
34
37
39
37
34
5
6
10
11
Shares NC
Contracts
18
25
34
37
37
36
Options
24
26
35
30
31
28
25
Summary – Value
Investors
Foreign
Retail
Institutional
Instruments
2005
2006
2007
2008
2009
2010
Shares ML (PLN M)
35 845.4
48 492.7
75 900.4
68 119.6
60 210.8
96 642.9
Shares NC (PLN M)
---
---
2.3
7.1
9.3
38.0
Contracts
( #)
292 577
559 733
896 497
1 208 526
1 385 747
1 871 607
Options
(#)
3 428
8 543
45 524
38 738
17 496
65 225
Shares ML (PLN M)
23 093.9
55 635.1
67 678.6
27 505.2
44 807.2
40 323.6
Shares NC (PLN M)
---
---
71.5
377.3
480.8
1 360.8
Contracts
( #)
4 022 902
4 190 199
5 255 317
6 404 282
6 934 504
6 841 196
Options
(#)
189 371
232 496
209 944
187 428
256 788
330 349
Shares ML (PLN M)
28 710.1
54 842.5
83 925.8
61 356.5
61 677.3
69 890.5
Shares NC (PLN M)
---
---
3.9
26.9
49.6
164.9
Contracts
( #)
1 054 733
1 576 859
3 165 210
4 472 449
4 904 804
4 900 951
Options
(#)
61 636
86 594
139 528
99 046
120 498
151 279
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More Information:
WSE Marketing Communication Department
Marcin Przeszłowski
605-470-665
[email protected]
Anna Szarek
603-366-808
[email protected]
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