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Report: Central Europe stock exchanges eye joint stock market index

The Warsaw Stock Exchange, or Gielda Papierów Wartosciowych w Warszawie SA, is in discussions with other stock exchanges in Central Europe to create a joint index of companies from the region, Rzeczpospolita reported Sept. 4, citing the Polish bourse's head Marek Dietl.

The creation of the joint stock market index, which is being explored by the Polish, Czech, Slovak, Croatian, Hungarian and Romanian stock exchanges, is aimed at promoting the region to foreign investors, Dietl said.

The index could originally comprise 40 companies selected based on shares liquidity and capitalization. At the beginning, it would be calculated once a day, but at a later stage it would show real-time data, becoming a basis to develop an exchange-traded fund, the executive noted.

The Warsaw Stock Exchange would also like to develop technological cooperation with its Central European peers, exploring such possibilities as launching a securities lending and borrowing platform and tools for remote participation in general shareholders meetings.

A letter of intent regarding the creation of a joint index and the other initiatives is expected to be signed within two months, with the implementation of the project starting shortly after, Dietl was cited as saying.