Stock markets are expected to roll out their PISCES platforms in the near future, with trading of shares anticipated to begin this autumn.
The government has confirmed that employees with share options will be able to exercise them on PISCES to take advantage of associated tax benefits.
Emma Reynolds, Economic Secretary to the Treasury, stated: “The launch of PISCES will provide vital support to UK growth companies. It will strengthen our capital markets and drive economic expansion, putting more money into the pockets of working people as part of our Plan for Change.”
Simon Walls, Executive Director of Markets at the Financial Conduct Authority, added: “We are establishing the foundation for a new private stock market, designed to offer investors more avenues to support high-growth businesses.
“Today’s legislation marks a significant milestone, and we will soon publish the final rules for PISCES. Collectively, these steps will enable a structured marketplace for trading private shares.”
