Michael / Ström Dom Maklerski

What Michael / Ström Dom Maklerski does

Michael / Ström Dom Maklerski S.A. is a Poland-based independent brokerage firm (Dom Maklerski) founded in 2015 and headquartered in Warsaw, regulated by the Polish Financial Supervision Authority (KNF). The company operates a dual-sided capital markets platform: on the retail side, it provides brokerage accounts, IKE/IKZE pension accounts, government and corporate bond trading, and proprietary open-end and closed-end fund products through a self-developed online trading platform (online.michaelstrom.pl) and 13 customer service points (POK) across major Polish cities; on the corporate side, it acts as lead manager, arranger, issuance agent, sponsor, and authorized Catalyst advisor for corporate bond issuance programs, alongside shareholder register services for over 486 companies. Its proprietary technology stack includes an in-house trading system for primary and secondary bond markets and the MS Fund Online platform that integrates brokerage accounts with an open-end fund marketplace of more than 1,000 funds from 18 partner TFIs.

The firm generates revenue through transaction commissions on bond trading, placement and advisory fees on corporate bond issuance, recurring management fees on its asset management strategies and three proprietary FIZ vehicles (M/S Obligacji Korporacyjnych FIZ, M/S Obligacji Korporacyjnych 2 FIZ, M/S Obligacji Dużych Spółek FIZ), subscription fees on open-end fund access, and professional service fees on shareholder register management. Key scale metrics include over 6 billion PLN in deposited AUM, 18 billion PLN annual secondary market turnover, 461 completed bond issuances for 89 issuers, 6,300+ retail accounts, 11.5 billion PLN invested by individual clients, and a 0.87% Default Rate Index on bond selections covering 2015–2026.

Michael / Ström holds the highest GPW ranking as an Authorized Catalyst Advisor on the Warsaw Stock Exchange and ranked 1st in Poland by number of completed bond issuances (obligacje.pl 2025). The firm employs 51–100 people organized around 58 private brokerage advisors, 21 licensed securities brokers, 5 CFA charterholders, and specialized legal and analyst teams, with leadership drawn from prior roles at PKO BP, Société Générale, UniCredit CAIB, Noble Securities, PKO TFI, Skarbiec TFI, and Rabobank Polska.

Name

Michael / Ström Dom Maklerski

Legal name

Michael / Ström Dom Maklerski S.A.

Website

https://michaelstrom.pl

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Investment Banking and Brokerage Services

NAICS

Investment Banking and Securities Intermediation (523150), Portfolio Management and Investment Advice (523940), Other Financial Vehicles (525990)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industry

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

Keywords

• Brokerage services
• Corporate bond issuance
• Investment banking
• Asset management
• Shareholder registry

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Brokerage commissions: Commissions from facilitating bond trades on primary and secondary markets for individual and institutional investors.
2. Bond issuance services: Fees from acting as lead manager, organizing bond issuance programs, and placement services for corporate issuers. Includes agent of issuance, sponsor, and co-arranger roles.
3. Asset Management fees: Management fees from model portfolio strategies (minimum 150,000 PLN) and individual portfolio management (minimum 10 million PLN). 1.05% annual fixed fee for M/S Obligacji Korporacyjnych FIZ.
4. Shareholder Register Services: Fees for maintaining shareholder registers for over 486 companies, including electronic register preparation, KSH-compliant management, and dividend distribution services.
5. Treasury products services: Revenue from facilitating government and corporate bond trades for corporate clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Michael / Ström Dom Maklerski S.A. is a licensed Polish brokerage firm (Dom Maklerski) that provides investment banking and portfolio management services. The firm's core offering encompasses brokerage accounts with a proprietary online bond trading system, IKE/IKZE pension accounts, corporate and treasury bond trading on primary and secondary markets, three proprietary closed-end investment funds focused on corporate bonds, an open-end fund marketplace covering over 1,000 funds, asset management with seven model strategies, and corporate finance services including bond issuance management, capital raising, and shareholder registry for over 486 companies.

Product overview

Michael / Ström Dom Maklerski is an independent brokerage offering a comprehensive investment platform. The core offering includes brokerage accounts (Rachunek maklerski) with proprietary trading system and IKE/IKZE pension accounts. Investment products span corporate bonds, treasury bonds, and a suite of proprietary closed-end funds: M/S Obligacji Korporacyjnych FIZ, M/S Obligacji Korporacyjnych 2 FIZ, and M/S Obligacji Dużych Spółek FIZ. The platform integrates an open-end fund marketplace (Fundusze Inwestycyjne Otwarte) with over 1,000 funds and MS Fund Online platform. Asset Management services provide seven model strategies plus individual portfolio management. For corporate clients, services include capital raising, shareholder registry management, and corporate services such as issuance agent and authorized advisor on Catalyst.

Differentiator

Problem solved

Functional benefit

Brands

• Michael / Ström Obligacji Korporacyjnych FIZ: Public closed-end investment fund focused on corporate bonds, operating since Q4 2017.
• Michael / Ström Obligacji Korporacyjnych 2 FIZ
• Michael / Ström Obligacji Dużych Spółek FIZ

Products and services

• Rachunek maklerski (Brokerage Account) A free brokerage account providing access to financial instruments on primary and secondary markets, including the Catalyst market for corporate bonds, with a proprietary online trading system for retail and institutional investors.
• Rachunek IKE / IKZE (Individual Pension Account / Individual Pension Security Account) Pension savings accounts (IKE/IKZE) for long-term retirement savings with tax benefits, allowing investment in bonds and investment certificates. No account opening or maintenance fees.
• Obligacje korporacyjne (Corporate Bonds) Corporate bond investment products, including analysis of potential issuers, bond selection, and comprehensive bond issuance preparation for primary and secondary markets.
• Obligacje skarbowe (Treasury Bonds) Treasury bonds and government-guaranteed bonds available for purchase on the secondary market, offering maximum security with yields of 3.5%-4% and maturities from 6 months to 20 years.
• M/S Obligacji Korporacyjnych FIZ Public closed-end investment fund (FIZ) concentrated on corporate bond markets, operating since Q4 2017, with net asset value of 93.92 million PLN as of May 2026. Annual fixed fee of 1.05%.
• M/S Obligacji Korporacyjnych 2 FIZ Private closed-end investment fund focused on corporate bonds, operating since Q3 2024.
• M/S Obligacji Dużych Spółek FIZ Closed-end investment fund concentrated on bonds of the largest Polish companies, investing in bonds of state-owned entities, public companies with market cap above 500 million PLN, or non-public companies meeting specified criteria. Operating since Q1 2023.
• Fundusze Inwestycyjne Otwarte (Open-End Investment Funds Platform) Open-end investment funds platform offering over 1,000 Polish and international funds from 18 fund management companies, with internal fund scoring system and MS Fund Online trading platform.
• Fundusze Inwestycyjne Zamknięte (Closed-End Investment Funds Distribution) Closed-end investment funds (FIZ) offering private and public investment certificates across various asset classes with curated selection.
• Asset Management Wealth management service with seven model portfolio strategies (conservative, debt PLN, debt EUR, debt USD, income, balanced, aggressive) for clients with minimum 150,000 PLN or 50,000 EUR/USD, and individual strategies for clients with assets above 10 million PLN with discretionary management.
• Pozyskiwanie finansowania (Capital Raising / Corporate Finance) Corporate finance services including debt and equity capital raising, investor search, bond placement, prospectus preparation, and GPW Catalyst introduction for corporate issuers.
• Rejestr akcjonariuszy (Shareholder Registry Service) Shareholder registry service for over 486 companies, including electronic registry setup, KSH compliance, data access, dividend distribution, and blocking/pledge management.
• Produkty skarbowe (Treasury Products for Corporates) Government and corporate bond trading facilitation services for corporate treasury operations.
• Usługi korporacyjne (Corporate Services - Issuance Agent, Sponsor, Authorized Advisor) Corporate services including issuance agent, issuance sponsor, calculation agent, documentation agent, registration intermediary, technical intermediary, authorized advisor, transaction intermediation, bondholder meetings, and treasury bond investment.

Quantifiable outcome

• Over 11.5 billion PLN in primary market transactions
• +5 more outcomes

Named customers18 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• BEST S.A.coreStrategic or Co-development Partner · 3 April 2026Acted as lead manager for BEST S.A.'s public bond issuance program of up to PLN 500 million. First series of bonds worth PLN 134,217,400 issued and managed by Michael/Ström Dom Maklerski.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Noble Securities (Dom Maklerski Noble Securities): One of Michael / Ström's closest direct competitors in Polish DCM and brokerage, with significant overlap in corporate bond issuance, brokerage, and asset management. Several Michael / Ström partners (Jankowski, Kozioł, Sojka, Gosz, Krzyżczak) previously worked at Noble Securities, underscoring direct competitive head-to-head on Polish bond mandates.
• Trigon Dom Maklerski: Independent Polish broker-dealer with overlapping offering across brokerage, asset management, and corporate finance/equity research. Competes with Michael / Ström on mid-market Polish advisory mandates and on institutional brokerage for Polish equities and bonds.
• Dom Maklerski BOŚ (DM Banku Ochrony Środowiska): Bank-affiliated Polish broker-dealer active in retail brokerage, asset management, and corporate finance. Comparable to Michael / Ström in serving mid-market Polish issuers seeking bond financing and competing in the same Catalyst league tables.
• Dom Maklerski mBanku: Brokerage arm of mBank, one of Poland's largest retail/corporate banks. Direct competitor to Michael / Ström for retail brokerage accounts, bond distribution, and corporate bond underwriting within Poland.

Broad incumbents

• Biuro Maklerskie PKO BP: The brokerage unit of Poland's largest retail bank by assets, with much wider product breadth (retail brokerage, AM, custody, ECM/DCM). Comparable to Michael / Ström on retail bond distribution and corporate bond underwriting, but at significantly larger scale and as part of a full universal-bank offering.
• Dom Maklerski Banku Handlowego (Citi Handlowy): Brokerage unit of Citigroup's Polish franchise, focused on ECM, DCM, and institutional brokerage. Direct comparator on corporate bond underwriting and capital markets advisory for larger Polish issuers, but as part of a global bank's offering.
• Santander Biuro Maklerskie (ex BZ WBK): Brokerage unit of Santander Bank Polska, serving retail and institutional clients with brokerage and advisory services. Comparable on Polish retail bond distribution and mid-market corporate finance, though with broader parent-bank distribution.
• XTB (X-Trade Brokers Dom Maklerski): Poland's largest listed online broker, offering multi-asset retail trading across equities, FX, and CFDs. Comparable to Michael / Ström's proprietary digital brokerage platform and Polish retail investor base, though with a much wider product set and global footprint.

Regional players

• Erste Securities Polska: Austrian-bank-affiliated brokerage in Poland focused on Central European equities and DCM. Comparable to Michael / Ström on corporate bond issuance and trading for Polish/CEE issuers, but with regional rather than purely Polish scope.
• Wood & Company Financial Services: Czech-headquartered brokerage with Central European focus on equities, fixed income, and asset management. Competes with Michael / Ström on CEE corporate bond mandates and institutional brokerage, with similar independent broker-dealer positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/msdommaklerski
• Facebookfacebook.com/DMmichaelstrom
• LinkedInlinkedin.com/company/michael-str%C3%B6m-dom-maklerski

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Michael / Ström Dom Maklerski