Central and eastern Europe’s derivative markets are patchy. With liquidity scarce, it makes sense to pool it. Warsaw Stock Exchange thinks it should be the hub – but Wiener Börse has acquired three CEE exchanges and wants to unify their markets. Which market has the most credible claim to be the regional champion? Mareen Goebel reports.
Central and eastern Europe was one of the most exciting investment themes of the past decade. Exposure to the region was a guaranteed way for companies – including financial firms – to make equity analysts upgrade their forecasts.
Since 2008, the euphoria has crashed to earth. Banks with large east European loan books have been punished in the stockmarket, and countries including Hungary, Ukraine and Latvia have veered perilously close to financial catastrophe.
The one economy that has been able to keep holding its head high is Poland. Now the...