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10 things you need to know about PISCES

The City of London. Photo: John Keeble/Getty Images

Sam Robinson | CMS, Ash Saluja | CMS, Tom Callaby | CMS, Susann Altkemper | CMS+2

3 min read
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The new UK Private Intermittent Securities and Exchange System (PISCES) is a platform for secondary trading in freely transferable shares issued by UK or non-UK companies.

On March 6, 2024, the UK Government published a consultation relating to a new type of share trading platform, referred to as a “Private Intermittent Securities and Exchange System” or “PISCES”. This was first discussed in 2022 as part of the so-called Edinburgh Reforms and is a significant development in the UK

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