Asset Match is an online platform for the trading of shares in unquoted and private companies. This is provided so that companies can provide liquidity for its shareholders who may wish to exit or partially exit their investment and realise a return. This also provides an opportunity for sophisticated, HNW and institutional investors to gain access to growth-stage and pre-IPO private equity investments that are not available elsewhere.
Asset Match Limited is authorised and regulated by the Financial Conduct Authority (FCA) (FRN 579310) as a corporate finance firm with permissions to arrange and advise on transactions. Being regulated means that we must adhere to all relevant financial regulation to ensure the orderly working of our platform and to treat customers fairly. You can see a detailed list of Asset Match Limited’s authorisation and permissions on the FCA Register.
The FCA is the conduct regulator for financial services firms in the UK. Further information is readily available on the FCA website.
Investments in private company shares are high risk and illiquid. Asset Match is targeted exclusively at investors who are sufficiently sophisticated to understand these risks. For more information, please read our full Risk Warning.
A list of companies that are admitted to trading on Asset Match can be found on our Markets page where each company has an auction and profile page that displays a real-time order book, auction information, price history, company news and reports.
Asset Match fully understands the requirements of investors and we put our best efforts into providing investors with as much information as we possibly can. Private and unquoted companies are not subject to the same reporting and disclosure requirements as public companies and investors should bear this in mind when making decisions.
Once you have registered and logged into the Asset Match website, you can change your details in the “My Profile” section. If you experience any difficulties with changing your details or wish to have your details permanently removed from our records then you can contact our Support Team by emailing email@example.com or calling +44 (0)20 2748 2788.
Asset Match Private Market is our auction-based market for buying and selling existing shares in companies that have been admitted to trading on our platform.
There are two types of Private Market:
Standard – All companies trading on the Standard segment settle in CREST and orders are routed via regulated stockbrokers. Shares are freely transferable and there are no restrictions on participation.
Bespoke – Companies admitted to the Bespoke segment each have their own settlement rules and procedures that are different to the Standard segment. Participation is often limited to existing shareholders and invited new investors. Auction rules and instructions are available to permitted participants each company’s auction page.
To participate in auctions for companies admitted to Private Market – Standard, shareholders and investors need to use a stockbroker.
Using shareDeal active
shareDeal active (part of Jarvis Investment Management plc) is the preferred broker and settlement agent for all Private Market – Standard companies admitted to our platform. shareDeal active offers a competitively priced service for both certificated and uncertificated transactions. If you do not already have an account with shareDeal active, then you can open an account online.
Alternatively, if you wish to sell a share certificate you can simply complete and return the certificated selling pack.
You can place orders with shareDeal active by calling 01892 510 515.
Using another stockbroker
If you already have a stockbroker (or an in-house dealing team if you are an institutional investor or broker) then you can place orders by instructing your broker to face shareDeal active. Not all stockbrokers will be able to act on your behalf, and so you should check with them first. You may also incur additional fees.
If you require a list of brokers who can submit orders to shareDeal active, or if you are a broker looking to get set up, then contact our Dealing Team by emailing firstname.lastname@example.org or calling +44 (0)20 2748 2788.
These instructions can also be found on each auction page.
Successful buyers and sellers will be charged 3% commission plus any additional fees that their stockbroker may charge. These fees are visible on the contract notes that are issued.
Please note that Private Market – Bespoke auctions each have their own rules and processes. The above information does not apply.
A comprehensive list of brokers who are set up to deal on the Asset Match platform can be found here.
All Private Market auctions use a specially developed pricing algorithm and matching engine to determine the final closing price of each auction and the allocations to buyers and sellers. These algorithms are non-discretionary which means that Asset Match remains independent throughout and ensures that prices are fairly derived.
The pricing algorithm determines a single price for each auction (where there are sufficient buy and sell orders) and an indicative price, where available, is displayed in the order book throughout. The indicative price is the price at which the auction would close if it were to close at that moment. In most cases, this indicative price is set where the implied supply and demand curves cross.
Where there is a mismatch in supply and demand at the auction closing price, the matching engine allocate shares on a “price and time basis”.
Further information on how the pricing algorithm, matching engine work and how to read the order books can be found in our Order Book Help Guide.
Asset Match Private Market is designed to facilitate liquidity in unquoted and private companies via periodic auctions. Companies that are admitted to trading include growth companies that are pre-IPO, mature private companies that require liquidity but have no plans to exit and formerly public companies that seek the flexibility of being a private company.
Whilst there are no set criteria, these companies tend to have over 50 shareholders and an experienced board of directors. The Asset Match team undertakes pre-admission due diligence on each company and must be approved by our New Business Committee before admission. The New Business Committee of formed of directors and senior managers in Asset Match who are each highly experienced in capital markets. More information about the Asset Match team can be found here.
Asset Match BookBuild is our platform for large transactions or one-off corporate actions that require price discovery or a professional intermediary.
Example transactions include:
Fundraising where no issuance price has been set and price discovery is required.
A fixed price fundraise that requires a professional intermediary and receiving agent to co-ordinate the fundraise on behalf of the company.
A large block placing of existing shares that requires a one-off auction (or series of auctions) to determine the placing price based on available demand.
This platform is for use by companies considering a corporate action or large shareholder who is looking to place a block of shares.
To find out more about Asset Match BookBuild and to speak with one of our experts, please email email@example.com or call +44 (0)20 7247 2788.
Asset Match Connect is our selected list of fundraising or secondary opportunities that we have been shown by clients, investors and our network of investment banking professionals.
This platform is not currently live on our website and access to deals is restricted to a close group of sophisticated, HNW and institutional investors. We have plans to display Connect deals on our platform in due course and include more of our users.
To find out more about Asset Match Connect and to register your interest, please contact our Dealing Team by emailing firstname.lastname@example.org or calling +44 (0)20 7247 2788.