Finance
Board games firm set for first listing on britain's private stock market
Published by Global Banking & Finance Review®
Posted on March 10, 2026
2 min readLast updated: March 10, 2026
Quick Summary
QPlay, a hybrid board‑games developer, will become the first company to trade shares on Britain’s PISCES private market via JP Jenkins on March 18, marking a milestone for the novel private intermittent exchange regime.
QPlay to Make Landmark Listing on UK’s First Private Stock Market Platform
QPlay’s Pioneering Move on the PISCES Platform
By Charlie Conchie
QPlay Set to List on New Private Stock Market
LONDON, March 10 (Reuters) - A board games developer is set to become the first company to list its shares on Britain's new private stock market later this month, in a deal that will take place on a rival platform to that operated by the London Stock Exchange.
Details of the QPlay Listing
QPlay, which develops 'hybrid' physical and digital board games, will allow trading in its shares on March 18 on a PISCES platform operated by London-based private markets firm JP Jenkins, according to a statement by the company.
Understanding the PISCES Framework
The deal will be the first of its kind on PISCES, or private intermittent securities and capital exchange system, a new type of stock market introduced by Britain's financial regulator last year to boost investment into private companies. Under the PISCES framework, companies can allow trading in their shares on a temporary basis without the need to go public.
Industry Reactions and Significance
"Being the first operator to conduct a PISCES liquidity event is a major milestone for the team at JP Jenkins, along with the policymakers and partners who we have worked closely with over the last few years," said Veronika Oswald, commercial director of JP Jenkins, which won approval to operate a PISCES market in November last year.
Broader Context of UK Capital Markets
Reforms and Market Growth Initiatives
The introduction of PISCES comes as part of a suite of reforms to Britain's capital markets designed to boost growth and increase the rate of initial public offerings in London, after a slide in recent years.
Other Market Platforms and Competitors
The London Stock Exchange was the first company to win regulatory approval for PISCES and announced its inaugural planned deal earlier this month, which is due to take place after that of QPlay. Other markets offer similar regulated platforms. Rival exchange Nasdaq in New York has long had a private market segment.
(Reporting by Charlie Conchie; Editing Anousha Sakoui)
Key Takeaways
- •QPlay list shares on JP Jenkins’ PISCES platform on March 18—the first such deal on PISCES beyond LSE’s upcoming listing
- •PISCES allows unlisted companies to offer intermittent trading without a full public listing, as part of UK’s capital‑market reforms
- •JP Jenkins was approved by the FCA in November 2025 as the second operator of a PISCES platform, offering flexible, periodic auctions
Frequently Asked Questions about Board games firm set for first listing on Britain's private stock market
1What is the PISCES platform?
PISCES is a new type of private intermittent securities and capital exchange system introduced in the UK to boost investment in private companies.
2Who is the first company to list on Britain’s new private stock market?
QPlay, a developer of hybrid board games, will be the first company to list shares on the PISCES platform in March.
3When will QPlay shares start trading on the PISCES platform?
QPlay shares will be available for trading on the PISCES platform starting March 18.
4Who operates the PISCES platform for QPlay’s listing?
London-based private markets firm JP Jenkins operates the PISCES platform where QPlay will be listed.
5What is the aim of introducing the PISCES framework?
The PISCES framework aims to encourage investment in private companies and boost IPO rates in London.