Warsaw Stock Exchange CEO Steps Down

The Chief Executive Officer of the Warsaw Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term, Pawel Tamborski, has announced his resignation. The move happens just over a month after the parliamentary election in the country was won by nationalist conservative party Law and Justice.

Mr. Tamborski explained in his statement that he is not interested in compromising his political views and has joined a number of chief executives in key institutions across Poland. The new government has been actively replacing executives across many government controlled entities and is relying on a heavy interventionist policy.

Paweł Tamborski was appointed as CEO of the Warsaw Stock Exchange, replacing Adam Maciejewski after previously serving as Vice-minister of Finance with the former prime minister Donald Tusk's government. As such, both his appointment and resignation have been closely tied to political influences.

Since joining the European Union in 2004, the Polish economy has been the fastest growing economy in the region. The electoral results in Poland have shown that the prosperity does not “trickle down” to the bigger part of the population.

Eurosceptic parties have also been gaining ground in recent months after the numerous failures of European institutions to solve a refugee crisis, that has escalated ethnic tensions in the EU.

Commenting on his resignation, Mr. Tamborski explained, “We were able to gain the trust of the markets and re-orient the Exchange towards our clients. The first effects of our intense activities, such as bring in new investors, members and Market Makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Read this Term, are already visible. In spite of trends across European markets, Warsaw's exchange has maintained a dynamic flow of new issuers.”

“One of the most important projects put forward by the Management team, currently awaiting a decision by KDPW's shareholders, is that of post-trade integration. It is in the Polish capital markets interest, that we are able to create a single post-trade institution, which will be able to compete against ever increasing European competition,” the former CEO explained.

During Mr. Tamborski’s tenure the returns to shareholders of the company amounted to 22 percent, despite a relatively difficult period for the industry. Effective cost cutting measures and strict spending discipline have led to a faster rate of profit growth for the exchange. The resignation of Mr. Tamborski will become effective from the 31st of December.