Morgan Stanley & Co. International Plc, with registered office in London ("Morgan Stanley" thereinafter), acting on the grounds of it's European passport under the Markets in Financial Instruments Directive 2004/39/EC ("MIFID), has became a Member of the Polish Power Exchange ("the POLPX" thereinafter) and - starting from the 19th of April 2011 - it will be admitted to trading activities on the Day-Ahead and Intraday Market and the Commodity Derivatives Market.
Morgan Stanley is the first foreign investment company to become a member of the POLPX, which on the grounds of the European passport will act on the territory of the Republic of Poland as a foreign investment company and has been admitted to trading activities on the POLPX in the role of brokerage house.
Morgan Stanley is a significant player in the European energy markets. The fact that it has become one of our Members means that the POLPX is becoming an important place on the European map. We are confident that the Morgan Stanley participation on the POLPX power markets will significantly improve the liquidity of the markets - Mr. Grzegorz Onichimowski, the POLPX Management Board President said. The POLPX Management Board President also added that the other important aspect of this application is in the fact that this is the first foreign entity to take advantage of the European passporting under MIFID to become a member of POLPX. This will smooth the way for other important European players to commence trading on POLPX.
