The London Stock Exchange has received regulatory approval from the U.K.’s Financial Conduct Authority (FCA) to operate a new private market platform, the Private Intermittent Securities and Capital Exchange System (PISCES), the regulator said Tuesday.
The PISCES system will allow investors to buy and sell shares of private companies on a periodic basis, offering a formalized trading venue for transactions that previously took place through informal channels, according to the FCA.
This initiative expands the London Stock Exchange’s reach into private company trading, providing a more structured and transparent environment for investors and companies alike.
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