JP Jenkins Claims LSE‘s Pisces Venue Will Lack Sufficient Trading Volume
LONDON – JP Jenkins, a private markets firm preparing to launch its own trading venue under the FCA’s new regulatory framework, claims the London Stock Exchange’s (LSE) planned Pisces offering won’t deliver the continuous trading blocks desired by prospective clients. The firm, owned by tech solutions group Infinitix, has already applied to become a Pisces operator and aims to launch in October, pending regulatory approval.
While the LSE has attracted notable interest from high-growth companies like Revolut, Octopus, and Oaknorth to its pisces platform – revealed by City A.M. in July – JP Jenkins asserts demand leans toward uninterrupted trading capabilities not necessarily offered by the LSE’s model. “We’re already finding that the customers that we’re speaking to about Pisces… all want continuous trading blocks,” said McCudden, head of JP Jenkins.
JP Jenkins has lodged its request with the Financial Conduct Authority (FCA) and is positioned to launch its venue next month, contingent on receiving the necessary regulatory clearance. McCudden emphasized his firm has already garnered interest from a number of “pretty large” companies.
The comments come as the LSE hosted a private conference led by Julia Hogget, attracting dozens of UK scale-ups interested in joining the Pisces platform. Despite this apparent endorsement of the LSE’s initiative,JP Jenkins believes its focus on continuous trading will prove more attractive to companies seeking consistent liquidity.
