Financial services members have welcomed the launch of the Private Intermittent Securities and Capital Exchange System Sandbox (PISCES) on Thursday (15 February), but some warn this will not “explode as an opportunity”.
The PISCES framework aims to create a secondary market for trading shares in private companies, with stock markets expected to launch their PISCES platforms soon and trading to begin this autumn. UK Treasury delivers long-awaited PISCES framework with FCA rules to follow This comes after UK Chancellor Rachel Reeves committed to deliver PICSES by May 2025 in her 2025 Autumn Budget, a scheme initially proposed by her Tory predecessor Jeremy Hunt. In a message to markets after the launch of PISCES, Emma Reynolds, economic secretary to the Treasury, said getting the framework "up ...
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