The exchange has accepted the recommendation of the recently-convened GPW WATS Implementation Committee to push back the launch of the system to the end of 2025.

According to the exchange, it still plans to deliver the new system by the end of June 2024.

However, the new implementation date will enable exchange members’ to complete complex IT customisation projects and testing.

“We realise that the rollout date of the new trading platform must be optimal for all project stakeholders,” said GPW management board member.

“We are in constant dialogue with the exchange members, both Polish and foreign, and with the independent software vendors (ISV), and we have agreed to aim at technical readiness by the end of Q2 2025, while the rollout will take place at the turn of Q3 and Q4 2025.”

The postponement comes a month after the exchange replaced its chief executive following the election of a new government which vowed to purge state-controlled bodies of executives deemed to be political appointees of the previous ruling party.