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Private stock market Pisces moves forward as consultation launched

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Pisces will allow investors to trade shares in private firms in a style similar to a public exchange like the FTSE 100.

A new UK stock exchange where people can trade shares in private companies is moving closer, after officials published details on how it could operate.

The Financial Conduct Authority said on Tuesday that it will give people more confidence to invest in smaller companies.Pisces will be open to professional investors, and select retail traders like high net worth individuals and employees of participating private firms will also be included.Tulip Siddiq, Economic Secretary to the Treasury, said it is a “significant step forward” in Labour’s plans to reform markets.

“It will offer investors more access and a greater confidence to invest in private companies and could act as a stepping stone to public markets for those firms.

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