just now
Equiniti has enabled the first auction on the London Stock Exchange’s Private Securities Market, marking the move from regulatory design to live trading under the UK’s Private Intermittent Securities and Capital Exchange System framework.
The trading event has gone live on the London Stock Exchange disclosure portal. The initiative involves Equiniti, the London Stock Exchange and Tradable Private Equity Investment Company.
The Private Securities Market operates under the PISCES framework and is designed to facilitate structured, intermittent liquidity auctions for private company shares using public market infrastructure. The development comes as UK companies remain private for longer and boards and investors seek regulated mechanisms to provide periodic liquidity.
Jo Palmer, CEO Of Investment Services, Equiniti
Jo Palmer, CEO Of Investment Services, Equiniti said:
“The first PSM auction is a landmark moment that fundamentally changes the physics of private ownership in the UK,” said Jo Palmer, CEO of Investment Services at Equiniti. “For decades, Equiniti has served as the trusted backbone of the UK’s financial infrastructure, and we are now applying that storied legacy to solve the ‘liquidity trap’ for a new generation of high-growth companies. By engineering the regulated ‘highway’ that allows private shares to trade with the scale and precision of the public markets for the first time in history, we are ensuring that founders and employees can finally unlock the value of their success within a framework built on institutional-grade trust and operational excellence.”
Tradable Private Equity Investment Company is structured to hold shares in a single UK private company, Oxford Science Enterprises, with liquidity taking place at the Tradable Private Equity Investment Company level on the Private Securities Market rather than through a direct listing of Oxford Science Enterprises. The structure is intended to demonstrate how PISCES can support repeatable private market liquidity models for eligible issuers and shareholders.
As Tradable Private Equity Investment Company moves into the marketing phase of the auction lifecycle, Equiniti will continue to support the process through auction day and subsequent activity.
Fred Bouverat, Founder, TPE (Tradable Private Equity)
Fred Bouverat, Founder, TPE (Tradable Private Equity) commented:
“Equiniti have been instrumental in bringing TPEIC to market. Their technical expertise, operational precision and ability to navigate complex settlement and registry mechanics have been critical to transforming an innovative concept into a fully executable structure. As we pioneer a new model for scalable, repeatable private market liquidity, having a partner with Equiniti’s depth of experience and commitment to excellence has been invaluable. They are not just a service provider — they are a key enabler of the TPEIC platform and its readiness for institutional-grade market execution.”
Equiniti is a fintech employing 5,000 people and supporting more than 20 million shareholders and 12,000 organisations globally.
Found this interesting? Become a member of LiquidityFinder and get daily industry news direct to your inbox — join here.
