JP Jenkinsโข Claims LSE‘s Pisces Venue Will Lack Sufficient Trading Volume
LONDON – JP Jenkins, a privateโฃ markets firm โฃpreparing to launch its own trading venue under โtheโ FCA’s new regulatory framework, claims the โLondon Stock Exchange’s (LSE) planned โPisces offering won’t deliverโ the continuous trading blocks desired by prospective clients. Theโฃ firm, owned by tech โsolutions group Infinitix, has already applied to become a Pisces operator โฃand โaims to โคlaunch in October, pending regulatory approval.
While the LSE has attracted notable interestโค from high-growth companies like Revolut,โฃ Octopus, andโ Oaknorth to its pisces platform – revealed by City A.M. in July – JPโค Jenkins asserts demand leansโค toward uninterrupted trading capabilities not necessarily offered by the โLSE’s model. “We’re already finding that the โcustomers that we’re speaking to about Piscesโฆโ all wantโค continuous trading blocks,” said McCudden, head of JP Jenkins.
JP Jenkins has lodged its request with the Financialโข Conduct Authority (FCA) and is positioned to launch its venue nextโ month, contingent on receiving the necessary regulatory clearance. McCudden emphasized hisโฃ firmโข has already garneredโฃ interest from a number of “pretty large” companies.
The comments come as the LSE โhosted a private conference โขled by Julia Hogget, attracting dozens of UK scale-ups interested in joining โขthe Pisces platform.โข Despite this apparent endorsement of โthe โฃLSE’s initiative,JP Jenkins believes its focusโค on continuous trading will prove more โฃattractiveโ to companies seeking consistent liquidity.