Commodities Exchange to leave the country?

The Warsaw Commodities Exchange (WGT) is considering abandoning Poland and possibly moving shop to the UK to circumvent punishingly strict Polish regulations due to take effect next year. According to commodities market players, a new bill will introduce new restrictions instead of liberalizing the market. "After Poland's accession to the EU, we will be fighting with Western bourses. That is why regulations applying to the domestic market should be as flexible as those now in force in the EU. However, Poland has decided to regulate the market even further, upping our costs and lowering our competitiveness," said Artur Żur, a member of WGT's board. Under the new regulations commodities brokerage houses will no longer be allowed to trade futures, which have become one of the bourse's most vigorously developing areas. Specialists also claim that the National Settlement Chamber (KIR) should be extended so that all types of commodities can be traded. (Puls Biznesu, pp. 1, 9) J.K.