Sale of market information

The Group collects, processes and sells market data concerning all the markets which it operates, and is the sole supplier of market data in real time concerning domestic financial instruments which are traded on the markets of the Group. The status of WSE as the original source of information on trading and its strong brand enables the Company to successfully reach various groups of market participants with advanced information adjusted to individual needs. The main clients using such information are specialized data vendors who deliver the data made available by the Company in real time to investors and other market participants. Amongst the vendors there are information agencies, investment companies, Internet portals, IT companies and other entities operating on capital markets. As at December 31, 2011, the Company’s information services clients were 57 real-time data vendors, including 37 domestic and 20 foreign ones with over 327 thousand subscribers (including over 19 thousand subscribers using professional data feeds).

WSE supplies data feeds in real time on two levels. On the “basic” level, users obtain data of one bid/ask offer for the particular financial instrument. On the “professional” level, users obtain five best bid-ask offers or the full order book.

The Company’s activity involving the sale of market data covers also co-operation with licensees issuing financial instruments with the use of WSE indices as underlying instruments as well as statistical services including calculations and indices delivered by WSE. As at December 31, 2011, 15 foreign financial institutions operating globally and 3 Polish banks used WSE index licences and used indices as the underlying of financial products.

Number of vendors and subscribers of real-time data and licensees using WSE indices
  As at December 31,
  2011 2010
Number of vendors of data in real time, of which:
57 52
- domestic
37 33
- foreign
20 19
Number of subscribers of data in real time (thousand), of which:
327.3 307.2
- number of subscribers using professional data sets (thousand)
19.1 20.6
Number of licensees using WSE indices as underlying instruments for financial products
18 16
Source: WSE