JP Jenkins approved as PISCES operator

On 18 November 2025 JP Jenkins announced that it has been awarded a PISCES operator licence by the Financial Conduct Authority. This licence will enable the business to be an operator of a Private Intermittent Securities and Capital Exchange System (“PISCES”), the regulatory framework specifically designed to allow for trading in private company shares (see our dedicated Hub for further information).

This makes JP Jenkins one of only two approved PISCES operators, the other being the London Stock Exchange which received approval in August 2025 (see details here). The JP Jenkins Private Market (Private market - JP Jenkins) will offer both short trading windows for a week and periodic auctions as frequently as monthly. We understand that the JP Jenkins Private Market will be launched soon and will sit alongside their traditional Matched Bargaining Facility.

Mike McCudden, CEO of JP Jenkins, commented:

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.

If you are interested in finding out more about PISCES, please contact one of our core PISCES team members:  AJ Venter, Guy Francis or Charlotte Hamilton.