JP Jenkins has announced it has been awarded a PISCES operator license by the Financial Conduct Authority. Legislation to support The Private Intermittent Securities and Capital Exchange System was passed in June 2025 and JP Jenkins now offers companies choice and flexibility when it comes to trading on the JP Jenkins Private Market.
The new type of private stock market will bring together buyers and sellers to trade shares in private companies on an intermittent basis. Bringing a second operator into the market will boost competition, attract a greater variety of businesses and drive opportunities for investors.
Mike McCudden, CEO of JP Jenkins, commented: “’Today’s news is the result of months of commitment and dedication by the entire team at JP Jenkins. We have worked at pace to get this project over the line and being granted the licence formally recognises not only our recent achievements but also our extensive knowledge of supporting unlisted companies, their investors and indeed the wider UK economy.’
Unlocking liquidity
JP Jenkins already has a wealth of experience when it comes to matching buyers and sellers of unlisted or privately held securities. In 2023, the liquidity venue integrated its systems electronically with the existing financial market infrastructure. This enables any regulated institution to view prices and place trades in shares hosted on the venue over industry standard Order Management Systems.
Veronika Oswald, Commercial Director of JP Jenkins, added: “At JP Jenkins, we’ve always put our customers first — that’s why we built a system around what companies told us they need most. As the first PISCES operator to offer both short trading windows and periodic auctions as frequently as monthly, we’re giving businesses a more flexible, transparent way to unlock liquidity. ”
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Authorisation by the FCA
The PISCES regulatory approval also required JP Jenkins to seek direct authorisation by the FCA which has now been granted. This sees the business regulated under its own auspices, rather than using the umbrella services of an Appointed Representative.
Simon Walls, executive director of markets at the FCA, said: ‘We are delighted to authorise our second PISCES operator, another step towards delivering our vision of a competitive and innovative marketplace.
‘We finalised the rulebook in the summer and have already approved 2 platforms. It goes to show how we are pulling together with industry to unlock new opportunities for investors and growth companies.’
For more information go to privatesecuritiesmarket.com
