London, 22 April 2026: Asset Match Limited (“Asset Match”), a leading online platform for trading shares in private companies, has been approved by the FCA to operate a trading venue within the PISCES framework.

PISCES enables regulated secondary trading in private company shares through intermittent auctions, with strict disclosure procedures and investor safeguards. With this approval, Asset Match can now host regulated trading events within the PISCES regulatory sandbox.

Asset Match has been a strong supporter of the PISCES initiative, reflecting its focus on principles that we have long sought to promote through our existing business model; periodic liquidity and transparency.

With many businesses choosing to remain private for longer, or indeed never intending to IPO, PISCES provides a new pathway for shareholders to access liquidity and for investors seeking opportunities to invest in a wide spectrum of private businesses.

It is also expected to play an important role in improving liquidity and outcomes for participants in employee share plan and incentive schemes.

Iain Baillie, Founder and Executive Chair, said: “I’m very proud of the team’s achievement in securing FCA approval for our PISCES venue. Ambitious organisations will benefit from the opportunity to access a broader range of potential investors and investors gain a more transparent, regulated way to access some fast-growing, established and unlisted companies.

Ben Weaver, Business Development Director, said “With more than 14 years’ experience operating periodic auctions, we have traded over £165 million worth of unquoted shares across 1,000 plus auctions. Asset Match is perfectly positioned to play a leading role in this next phase of the market’s development.”

Michael Barker, COO of Asset Match, added: “We’d also like to thank the FCA’s PISCES team for their support with our PISCES application. We look forward to working with them over the remaining four and a half years of the regulatory sandbox.”

ENDS

About Asset Match

Asset Match, a firm authorised and regulated by the Financial Conduct Authority, operates a leading online platform for trading shares in private unquoted securities. Established in 2012 they have become a trusted partner to a multitude of private companies, advisors, brokers and investors. The Asset Match model is to create secondary liquidity via periodic auctions where a live order-book is displayed throughout and a non-discretionary algorithm creates a single clearing price. The platform has facilitated over £165m of secondary transactions since inception.

Find out more about Asset Match PISCES here