A new type of private stock market will be released later in 2025 after announcement of UK Economic Behavior Authority (FCA) The final rules For the private intermittent system of mobile values and capital exchange (Pisces).
Pisces is a new type of platform where they can negotiate shares in private companies. It will open the door to more opportunities for investors, facilitating their access to development companies. Private companies can use a wider range of investors and assets and Pisces managers offers outputs for shareholders to sell.
As companies choose to remain private for a longer period, there is a demand for investors to exchange a private company easily and effectively in an organized market. Pisces meet this request by allowing the secondary negotiation of these shares. Companies can set the floor and the maximum price of shares and have a reason for who can buy their shares.
Access to Pisces will be limited to institutional investors, high network people, sophisticated investors and employees of participating companies. Investors will receive information on the dangers involved to help them make documented decisions.
As stated in the FCA letter to the prime minister describing the approach of the regulatory regulator to support growth, Pisces can unlock capital and liquidity investments.
The platform will be delivered through a Sandbox, which will allow FCA to test the plan before a permanent regime is finalized in 2030.