Warsaw bourse looks for partner to overhaul platform

Warsaw bourse looks for partner to overhaul platform

After last year's failed effort to sell off a majority stake, the Warsaw Stock Exchange has changed tack, asking the world's major bourses to bid for a contract to modernise its trading platform and form an alliance.

The 99% state-owned Warsaw exchange was established in 1991, with its platform based on technology used by the Paris bourse.

Deutsche Börse, the LSE, Nasdaq OMX and Nyse Euronext were invited to bid for a stake of between 51% and 74% in the Polish exchange last year. The German player was the only one to make an offer but talks eventually broke down.

Now, the Financial Times, quoting the exchange's president, Ludwik Sobolewski, says these four have been sent a tender by the WSE, with responses due by 6 April.

According to the FT, the WSE would be happy to ink a deal with any of the four and tap their trading technology. It also wants an alliance that will see cooperation on market data and dual listings.

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