What future for the Warsaw Stock Exchange?

The Warsaw Stock Exchange (WSE), is facing a real threat of marginalization. However, it still stands a chance of turning into Central Europe's financial heart, but only if it is quickly privatized and is sold to local brokerage houses, said stock brokers attending Friday's seminar on the future of the Polish equity market organized by BRE Bank and private economic think-tank CASE. In 2002 WSE established closer ties with the pan-European Euronext including remote partnership in the bourse to help satisfy brokers seeking more access to foreign markets. "The WSE must turn into service-oriented business, focusing on providing liquidity to customers," said Jaroslaw Derylo of CA IB. The trading volume on the WSE in 2002 fell to zl. 63.6 billion from zl. 80.4 billion in 2001. (Parkiet, Feb. 22-24, p. 1) J.K.