Financial services provider Apex Group has launched a service to guide companies through trading events on the London Stock Exchange’s private securities market, taking on the role of a Registered Auction Agent (RAA) under the Private Intermittent Securities and Capital Exchange System (Pisces) framework.
Pisces, introduced by London Stock Exchange Group (LSEG) earlier this year, enables controlled secondary trading in private company shares. This is designed to open up liquidity options for private equity managers, corporate issuers, founders and employees without a full exit or public listing.
Apex said it is tapping into its experience across capital markets, fund administration and corporate solutions to guide companies through the Pisces process. Ahead of trading windows, the firm will work with companies to prepare them for participation on the platform, including compliance checks, operational readiness and investor-facing materials. It will also provide business support such as forecasting, sustainability framework development and strategic marketing.
London Stock Exchange gets first PISCES licence
When a secondary share sale goes live, Apex will step in as the RAA to manage the trading process, while also handling licensing applications and carrying out customer and asset due diligence. After the event, the firm will continue to offer services such as ongoing business and compliance support.
Stephen Geddes, Head of UK Corporate Oversight and Strategic Advisory, said: “With the introduction of Pisces, Apex Group is providing corporates and private equity managers with everything they need to unlock liquidity on the London Stock Exchange’s new Private Securities Market. Our integrated, tailored suite of services ensures companies are supported at every stage of their Pisces journey – before, during, and after trading events.”
Marcus Stuttard, Head of UK Primary Markets and AIM, London Stock Exchange, said: “We are delighted to be welcoming Apex Group to our Private Securities Market as a RAA. By leveraging Apex Group’s extensive reach across private markets, we look forward to providing companies with a greater range of options to build and evolve their shareholder base, while enabling current investors to benefit from increased liquidity in their shares and giving new investors the opportunity to invest in the next generation of high growth companies.”
