Polish banks ignore GlobalConnect

The new GlobalConnect market for foreign companies' shares has launched, Warsaw Stock Exchange board member Izabela Olszewska announced on Friday. Five companies made their debut on it: Allianz SE, Bayerische Motoren Werke, Mercedes-Benz Group, Siemens, and Volkswagen. The two big Polish banks said it was a no-brainer, as their clients can already invest in many markets around the world, paying in zloty.

mBank indicated in a statement to Puls Biznesu daily that its clients already have access to buy and sell 1,800 global stocks and 400 ETFs listed on the New York, London, and Frankfurt stock exchanges through it. PKO BP, too, indicated that its clients can transact on "over a dozen exchanges" and invest in stocks, bonds, and ETFs, settling them in both foreign currencies and the zloty.

(Business Insider)