Hope they’ve got a good grasp of FSMA…Asset Match says that it will be:
“the first comprehensive electronic platform in the UK for trading shares in private companies”
and that it is:
“an open, transparent electronic platform for trading shares, typically of profitable and proven private UK companies. Asset Match will centralise liquidity in the shares of these growing medium sized UK companies. Our ‘peer to peer’ (P2P) platform allows shareholders to sell their shares much more easily, and allows the companies and their investors to discover fair value for its shares”.
More about how it may work here.
Secondary markets for private company shares have become well-established in the United States in the last few years, largely off the back of anticipated listings of technology companies such as Facebook. Leading US secondary markets include SecondMarket and Sharespost.
We noted back in November 2011 that the secondary market phenomenon was spreading to Europe – see this post about Swiss-based FirstPEX. Asset Match seems to be the first to attempt this model in the UK.