Grab liquidity in private shares with PISCES and a share scheme platform
Private companies rarely give you a quick way to buy or sell shares. Enter PISCES, the FCA’s Private Intermittent Securities and Capital Exchange System. It runs occasional trading events so investors can find stakes in startups without a public listing. Pair that with a commission-free share scheme platform and you’re truly unlocking early-stage opportunities. Discover how our share scheme platform is revolutionising investment opportunities in the UK
This article breaks down PISCES, who can use it and how it works in the FCA sandbox. We’ll then explore how Oriel IPO’s curated, tax-focused marketplace complements PISCES for SEIS and EIS investors—with clear guidance, subscription plans and the Oriel IPO Hub. You’ll walk away ready to spot a trading window, understand compliance and connect with startups more efficiently.
Understanding PISCES: FCA’s trading sandbox for private shares
What is PISCES?
PISCES is a new type of private stock market. It isn’t a full public listing. Instead, it holds intermittent trading events—short windows where you can buy or sell shares in private companies.
Key points:
– Connects buyers and sellers on specific dates.
– Enables companies to set price floors and ceilings.
– Allows firms to restrict who sees company updates or trades.
How PISCES works
PISCES platforms run occasional trading events, operated under FCA sandbox rules. Unlike public exchanges, you can’t trade any time. Operators decide when to open and close each event. Companies list their shares with core and additional disclosures so investors know what they’re buying.
Who can join PISCES
PISCES is open to:
– Sophisticated and high-net-worth investors.
– Institutional investors and self-certified individuals.
– Private companies based in or outside the UK.
– Financial intermediaries, including brokers and advisers.
– Employees and trustees of employee share schemes.
Every PISCES operator must gain approval from the FCA. Examples include London Stock Exchange plc and Vestd Limited—each published their approval notice on the FCA register.
Why PISCES matters for SEIS and EIS investors
The UK’s SEIS (Seed Enterprise Investment Scheme) and EIS (Enterprise Investment Scheme) offer tax breaks to back early-stage businesses. But these shares can remain illiquid for years. PISCES adds a trading layer, allowing investors to exit or top up positions during intermittent events.
Benefits for you:
– A chance to realise gains or reinvest without a full exit.
– Access to price discovery in growth companies.
– A controlled environment governed by FCA rules.
Risks to consider:
– Trading opportunities are rare and time-limited.
– Private companies can impose extra restrictions.
– You’ll need to check personalised risk warnings from operators and intermediaries.
However, PISCES alone doesn’t handle deal sourcing, compliance education or tax-structuring. That’s where a dedicated share scheme platform like Oriel IPO steps in.
Oriel IPO: Bridging the PISCES gap with a share scheme platform
Intermittent events are a start, but SEIS and EIS investors need ongoing support. Oriel IPO offers a commission-free, subscription-based marketplace that complements PISCES by:
- Curating pre-approved SEIS/EIS opportunities.
- Offering clear guides on tax relief and compliance.
- Enabling startups to showcase their pitch materials.
- Giving investors a hub for managing holdings and paperwork.
Here’s how Oriel IPO layers on top of PISCES:
1. Curated deal flow
You don’t have to hunt through dozens of websites. Oriel IPO vets each startup to ensure they meet SEIS/EIS eligibility before listing. That saves time and cuts risk.
Explore SEIS startup investment opportunities on Oriel IPO
2. Commission-free funding
Unlike many platforms that take a slice of every investment, Oriel IPO works on transparent subscription fees. Startups keep more capital and you pay no extra per deal.
View Oriel IPO membership plans
3. The Oriel IPO Hub
All your deal documents, tax forms and trading schedules live in one place. The hub syncs with PISCES events, alerting you when a trading window opens.
Start using the Oriel IPO Hub
4. Education and advisory support
You get webinars, how-to guides and checklists for SEIS and EIS compliance. That means fewer surprises when you invest or exit shares.
Explore EIS startup investment opportunities
Halfway through your journey, it pays to keep the big picture in mind. Explore our share scheme platform redefining investment opportunities in the UK
A practical walkthrough: investing in a PISCES-listed SEIS company
- Sign up to Oriel IPO and choose a plan that suits your portfolio size.
- Browse curated SEIS deals and review pitch decks and financials.
- When a PISCES event is announced, the Oriel IPO Hub notifies you.
- Place your bid during the trading window via your intermediary.
- Complete tax relief paperwork with Oriel IPO’s guidance.
No more lost emails. No surprises at HMRC. Just a smoother route from deal discovery to share transfer.
Partnering with advisers and accountants
Accountants and tax advisers play a vital role in SEIS/EIS planning. Oriel IPO’s resources help them:
– Explain complex tax incentives in plain English.
– Streamline compliance checks with built-in templates.
– Grow their network by connecting with curated startups.
Grow your advisory network with SEIS EIS support for accountants
This makes life easier for advisers and gives clients confidence that every step meets regulatory standards.
Comparing PISCES with a dedicated share scheme platform
PISCES strengths:
– FCA-backed sandbox framework.
– Intermittent trading events for private shares.
– Price discovery in growth companies.
PISCES limitations:
– No vetting of share scheme compliance.
– Limited education on tax schemes.
– No subscription-based connection beyond event notices.
Oriel IPO fills these gaps, offering:
– Curated, eligible SEIS and EIS deals.
– Ongoing investor education and tax-form support.
– A central hub for all trading and paperwork.
Together, PISCES and a robust share scheme platform create a seamless experience: liquidity meets clarity.
Next steps: start your SEIS and EIS journey
Ready to see how Oriel IPO’s share scheme platform complements PISCES? Whether you’re an entrepreneur raising capital or an investor hunting tax-efficient deals, this ecosystem reduces friction and boosts confidence.
Showcase your startup and connect with investors
Discover startup investment opportunities
By combining FCA-approved PISCES trading events with Oriel IPO’s curated marketplace, you get the best of both worlds: regulated liquidity and expert-led support.
Conclusion: seize intermittent markets with a share scheme platform
PISCES is a leap forward for private-company liquidity. But you need more than just trading windows to succeed in SEIS and EIS investing. A dedicated share scheme platform like Oriel IPO brings curated deal flow, commission-free funding, educational resources and a powerful hub.
Make the most of each PISCES event. Stay compliant. Optimise your tax relief. And back the next wave of UK startups with confidence.
Join the share scheme platform that’s revolutionising investment opportunities in the UK
