Krak-Brokers is planning to take over the Warsaw Commodity Exchange

Krak-Brokers and its subsidiaries have made an offer to buy a 50%-stake in the Warsaw Commodity Exchange (WGT). One of WGT's shareholders, the Foundation for Grain-Stock-Feed Stock Exchange, has a 53.4% stake. However, it must sell some of its shares because of a clause in a proposed new bill which states that no one company can own more than 25% of the exchange. Currently, WGT has 56 shareholders, including Elektrim, Agros, Rolimpex and some banks. "We decided that instead of competing we may take over WGT and create something bigger," said president of Krak-Brokers Dariusz Marciniak. Along with other partners, Krak-Brokers wants to create a virtual agricultural commodities exchange on the internet platform Net-Broker's Net-Broker's platform already allows customers to make deals without using an intermediary. (Prawo i Gospodarka, page 14) M.M.