Cees Vermaas, CEO of The International Stock Exchange (TISE), tells Jeremy Chan, Trading and Tech Correspondent at Financial News, why private markets have stolen a march on public ones.

Cees notes how capital markets have been slow to adapt to new realities, with increased costs and poor liquidity meaning many companies are deciding to stay private for longer. There is strong statistical evidence to show that the UK has become a private market economy but these companies need a more sophisticated infrastructure to support their continued growth.

He notes that the UK Government has proposed a new Private Intermittent Securities and Capital Exchange System (PISCES) framework but with more of a public market look and feel, it doesn't seem to be providing the solution that is really required by private companies.

On the other hand, among a growing number of other private market initiatives, TISE has launched its own private market offering, TISE Private Markets, a tech-enabled, disintermediated model that provides private companies with a set of integrated electronic share registry management, secondary market trading and seamless settlement solutions. 

To read the article in full, visit the Financial News website here.