Corporate News

UK Capital Markets

Plans for the world’s first regulated crossover market could soon be underway under the proposed Private Intermittent Securities and Capital Exchange System (PISCES) regulatory framework.

Designed to allow private companies periodic access to a broader group of investors using the public company model of allowing businesses to opt into private auctions on a periodic basis, the framework allows a broader set of investors to buy shares in private companies. Running the bidding via a dedicated portal, companies would be able to continuing operating between auction windows as a normal private company keeping their information confidential in the interim.

Such plans are said to provide private companies with the choice as to how and when their existing investors can look to trade their holdings to a potentially larger market and the PISCES framework should hopefully be up and running by the end of the year.