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Documentation

GPW Benchmark S.A. is the administrator of benchmarks acting on the basis of the authorization of the Polish Financial Supervision Authority issued pursuant to Art. 34 of the Benchmarks Regulation (BMR), entered in the ESMA Register.



NOTE: Only the Polish versions of the above documents are binding. Translations are provided for information purpose only, although all efforts have been made to ensure their accuracy. However, the GPW Benchmark does not assume any responsibility for any errors or omissions in the translation.

 

WIBID and WIBOR documentation applicable until May 3rd, 2020:

 

Handling of complaints

In accordance with an internal procedure, complaints may be submitted by e-mail to: and by post to the address of GPW Benchmark S.A.  A complaint has to contain name and mailing address of the complainant and, if applicable, the name of the legal entity acting on behalf of the complainant. The subject matter of complaints is defined in accordance with Article 9(2)(a) of the BMR. The complaint should include a clear and full explanation of the subject matter, any related circumstances, as well as evidence and information available to the complainant that may assist in the complaint handling process. Complaints are dealt with by the Management Board on the basis of recommendations of the compliance unit, without involvement of persons directly involved in the given benchmark determination (benchmark determination on the date subject of the complaint). A response to the complaint shall be provided without undue delay and no later than 30 days after receipt. The response shall be provided in the same manner as the complaint was submitted, unless otherwise requested by the complainant.
If a decision does not meet complainant's expectations, he/she has the right to request reconsideration of the decision by the Oversight Committee, which is an oversight function, exercising supervision over all aspects of development of the benchmarks by the GPW Benchmark S.A. Pursuant to its Rules of Procedure, the Oversight Committee may notify the competent authority (the KNF) of any improper behavior by the administrator or the staff.


Whistleblowing

Pursuant to Art. 14 section 3 of the Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (BMR), the Administrator has established an internal procedure applicable at the GPW Benchmark S.A., based on which it allows reports of suspected potential violations regarding:

  • the provisions of the BMR by the Administrator as a company, its employees and other natural persons whose services it uses or who are under its control, members of the Management Board or members of the Supervisory Board, in particular regarding conflicts of interest,
  • behavior that may involve manipulation or attempted manipulation of a benchmark in accordance with the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC,
  • ethical standards, principles of protection of confidential information or information constituting professional secrecy,
  • prohibition of activities that constitute corruption, fraud, activities bringing unauthorized benefits and other abuses.

The procedure enables both former and current employees, associates and members of the management board of GPW Benchmark S.A. who have a reasonable suspicion of a possible violation to report, and ensures the process of considering reports and immediately notifying the supervisory authority or other relevant public authorities in the event of probable violations, in accordance with the requirement of Art. 14. section 1 and 2 of the BMR.

The submitted report should include a clear explanation of the subject of the report.

Each report should contain at least the following information: date and place of the violation, description of the specific situation of violation or circumstances giving rise to the possibility of violation, nature of the violation, persons participating in the violation, witnesses of the violation, and indicate all evidence and information that may prove helpful in the process of considering the violation.

Report can be submitted in the following manner:

  1. in the form of an e-mail to the following address: - to the Compliance Officer employed at GPW Benchmark S.A.
  2. by letter to the Administrator's address - directly to the Compliance Officer or the President of the Management Board, with the note "personally" (GPW Benchmark S.A. with its registered office in Warsaw, address: ul. Książęca 4, 00 - 498 Warsaw)
  3. orally - to the Compliance Officer (after prior contact to the following address: