The National Depository for Securities (KDPW), the Polish CSD, is opening a new direct link with the Latvian Central Depository.
The agreement, signed early this month, provides for clearing and settlement of trades in shares of companies dual listed on the stock exchanges of Warsaw and Riga.
The deal marks the 19th operational link between the KDPW and a foreign CSD.
The National Depository for Securities is working actively to enable foreign issuers to be listed on the Warsaw trading floor, says KDPW president and CEO Iwona Sroka, and for them to raise capital from a broad range of investors present in the Polish market. Latvian issuers seeking capital can take advantage of the offer and the benefits of the Polish stock exchange, its business environment and infrastructure. We believe such a complementary offer may benefit both the Warsaw and the Riga stock markets by stimulating their growth.
Over the last two years, the KDPW has established links with five other countries: Bulgaria, Canada, Lithuania, Slovenia and, most recently, Romania.
KPDW says establishing international links is part of its corporate strategy, which provides for cooperation with the WSE and market participants aiming to attract foreign companies to be listed on the WSE.
As of June 5, 43 foreign companies are listed on the Warsaw Stock Exchange, 36 on the main list and 7 on the NewConnect market, according to the WSE Web site.
(OS)