The introduction of TISE Private Markets reflects the failure of the conventional market infrastructure to meet the needs of small to medium sized enterprises (SMEs). These companies have holders expecting to realise their investment and Boards wanting to generate liquidity in their stock, but a listing is both overly costly and burdensome while rarely achieving those objectives on a consistent basis.

TISE Private Markets addresses this by giving SMEs full control of their dedicated market, from onboarding shareholders to scheduling auction events and managing registers. The integration and customisation of Avenir’s technology has facilitated several innovative features of the service, including a bespoke auction model which concentrates liquidity, seamless electronic settlement of cash and shares, a tailored auction algorithm to protect pre-emption rights, and online tools for the convenient management of share transfers and shareholder records.

Cees Vermaas, CEO of TISE, said: “We are delighted to maintain and extend our collaboration with Avenir Technology. They have been tremendously supportive in deploying the customised trading, settlement and registry management technology which underpins TISE Private Markets. I am hugely excited that our innovation has enabled the delivery of a next-generation private market.”

TISE recently announced that Blue Diamond Limited, the leading garden centre group based in the UK and Channel Islands, had become the first company to join TISE Private Markets. It operates 44 garden centres across the UK and the Channel Islands, with more than 4,000 employees and annual revenues approaching £350 million.

Martyn Bain, Co-Founder and Director of Avenir Technology, said: “Deploying our auction trading, settlement, and registry management solutions as part of the TISE Private Market infrastructure offers companies and investors access to cutting-edge functionality in a secure environment. Harnessing the growing opportunities presented by private markets also reinforces TISE’s position as an agile service provider, ready to innovate and meet the evolving demands of today’s market participants.”

In 2021, TISE announced that it had reached agreement with Avenir Technology to utilise its multi-asset price discovery and auction trading solution for TISE’s public market. Avenir Technology also collaborates with numerous other exchanges and financial counterparties across the globe.