WIG and WIG20 designated as significant benchmarks
The Polish Financial Supervision Authority (KNF) on 6 November 2026 designated the WIG and WIG20 benchmarks as significant.
The designation of WIG and WIG20 as significant benchmarks was made pursuant to Article 24(3) of the Benchmark Regulation (BMR)1.
The WIG and WIG20 benchmarks have been published since 1991 and 1994, respectively. They constitute a vital element of the Polish economic landscape. Since the establishment of the Warsaw Stock Exchange (GPW), they have served as one of the main indicators describing the economic situation in Poland. They are also widely presented in media, industry documents, and scientific literature.
WIG20
Regarding the WI20 index, its systematic importances and market recognition must be emphasized, particularly in the context of its function as the main reference point for derivatives, including futures contracts and options2.
WIG
Regarding the WIG index, it is necessary to point out its systematic importance and its role as a barometer of the Polish economy, as well as a reliable, representative, and comprehensive reference indicator for the Polish capital market. The WIG index is used by key institutions, such as National Bank of Poland (NBP), to evaluate fund performance.
Taking into account the specific features of these benchmarks (including their provision methodology and constituent selection criteria), which cannot be replicated by any international index, the KNF concluded that the status of these benchmarks is unique and there are no appropriate, market-led substitutes that would share similar characteristics.
As of 1 January 2026, the BMR was amended, particularly regarding its scope of application. Currently, the BMR applies to critical benchmarks, significant benchmarks, EU Climate Transition Benchmarks, and EU Paris-aligned Benchmarks, as well as to certain commodity benchmarks.
The designation of WIG and WIG20 as significant benchmarks implies that their provision remains subject to the requirements of the BMR and to supervision by the KNF.
In this matter, the KNF consulted with the European Securities and Markets Authority (ESMA). The advice provided by ESMA confirmed the validity of designating WIG and WIG20 as a significant benchmarks.
GPW Benchmark S.A., the administrator of the POLSTR benchmark, already holds an authorisation from the KNF to provide benchmarks under the BMR and will therefore not be required to apply for a new authorisation.
The WIG and WIG20 benchmarks will be included in the public register of benchmarks maintained by the ESMA.
| Benchmark Full Name | Administrator Full Name | Administrator Country | Relevant Authority | Date of decision to designate as significant under Article 24(3) BMR | Applied EU/EEA Status |
| WIG | GPW Benchmark SA | Poland | KNF | 6 November 2026 | Authorisation under Article 34 of the BMR |
| WIG20 | GPW Benchmark SA | Poland | KNF | 6 November 2026 | Authorisation under Article 34 of the BMR |
The decision, along with the background regarding the designation of the POLSTR benchmark as significant, is available in Polish and can be found at the following link: https://dziennikurzedowy.knf.gov.pl/DU_KNF/2026/25/akt.pdf
_________________2 According to data published directly by GPW on its website, the total value of open positions in futures contracts and options on WIG20 at the end of 2025 was EUR 1.218 billion (based on GPW statistics as a trading platform: https://www.gpw.pl/statystyki-gpw#6). At the end of 2025, the total scale of use of this benchmark was EUR 6.58 billion
