JP Jenkins, the UK’s largest liquidity venue for unlisted assets, this morning 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.
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 license formally recognises not only our recent achievements but also our extensive knowledge of supporting unlisted companies, their investors and indeed the wider UK economy.”
JP Jenkins already has a wealth of experience when it comes to matching buyers and sellers of unlisted or privately held securities. In 2023, JP Jenkins 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. "
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.
Mike McCudden, concluded:
“We are delighted to have now achieved this significant milestone both for ourselves and the broader UK capital market. Through our constructive engagement with both HM Treasury and the FCA, we have been able to play an important role in helping shape this new framework and as only the second entity to be awarded a PISCES operator licence so far, we are genuinely excited when it comes to the prospects this holds for companies and investors alike.”
For more information go to privatesecuritiesmarket.com
