The Warsaw Stock Exchange (WSE) announced today that it has signed an agreement to purchase a 30 percent stake in the proposed pan-European stock exchange, Aquis Exchange.
The alliance between the two bourses will help strenghtening the WSE's place on the international stage and reinforce its position as a financial hub in Central Europe, it said.
"The Polish capital market creates huge opportunities for WSE and is definitely our main focus, however, in a competitive and highly challenging environment, business diversification at an international level is a must for our company," says Adam Maciejewski, president and CEO of the Warsaw Stock Exchange. "The recent acquisition of organized commodity markets in Poland and investment in Aquis Exchange are examples of this strategy."
UK-based Aquis Exchange is still awaiting approval from the UK's Financial Conduct Authority before it can open for business. The bourse, a brainchild of CEO Alasdair Haynes, has been the subject of speculation over potential backers lately, with rumors mentioning not only the WSE, but also ex-Barclays CEO, Robert Diamond.
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