Asseco Poland begins cooperation with GPW
Asseco Poland has signed an agreement with Giełda Papierów Wartościowych w Warszawie S.A. (Warsaw Stock Exchange – GPW) for the implementation and the launch of the PROMAK TS system - one of the most modern solutions for financial instruments trading that meets the requirements of the EU MIFID II Directive. The system will be launched during the first session day in 2018.
The agreement covers the implementation and the launch of PROMAK TS in the IT environment of GPW, and making the solution available to GPW's customers. It is a proprietary solution of Asseco Poland and it meets the requirements of the EU MIFID II Directive, which will become effective from the beginning of 2018 and will significantly change the distribution of financial products in Poland. Thanks to the implementation of the system, brokerage staff will receive a high-performance, modern and fully integrated solution that enables trading of financial instruments listed on GPW.
This is the first project of Asseco Poland implemented jointly with GPW. We hope that this agreement will help us with expanding the cooperation in the future, said Director of the Capital Markets Division in Asseco Poland Artur Trunowicz. In our product development the priority are not only technological requirements, but above all the expectations of the business side. Our goal in this project will be to modernize the solutions offered by the stock exchange and to simplify their administration. The best tool to achieve that goal is the implementation of the PROMAK TS system, which meets the requirements of the new MIFID II regulation,he added.
Under one system, GPW clients will gain the access to current market information, order management and brokerage firm risk. This will allow efficient and instant communication with the market and make it easy to control the flow of orders transferred. The solution will also offer the participants of GPW the access to the UTP transaction system both through a dedicated application and a web channel. Therefore, investors will be able to enjoy all the functionalities of the system at any time and place.
We have been cooperating with Asseco Poland for years as a solution provider for brokerage houses, but for the first time we are implementing a joint project for GPW. We have high hopes for this project and we hope that our clients will receive a modern and effective solution, said Dariusz Kułakowski, Member of the Management Board (CIO) of GPW.
According to the contract, the implementation of the PROMAK TS system will begin in the autumn of 2017. The launch is scheduled for January 2, 2018 - the first session day of the new year. Asseco Poland will also provide at least 3 years of service support for the solution.