Unlock capital or offer liquidity to early investors and employees, while staying private
Why it matters:
As your company grows, the capital and liquidity needs change. Sometimes you need new capital, or you need to give early investors or employees a way out.
Doing each of these as a one-off creates admin burden, compliance risk, and an inconsistent cap table.
FCX solves this by providing:
- Full control over price, timing and eligibility in whichever transaction type you run
- A fully regulated, auditable process for every raise, tender or auction
- Australia’s first ASIC and RBA regulated alternative for company and fund transactions – providing security and transparency in every transaction
- One admission that covers every transaction type, so you’re not restarting the process each time
Benefits of using FCX:
Capital Raise
- Set your own raise size, valuation range and investor profile
- Manage investor onboarding, document signing and settlement in one licensed marketplace
- No need to search for buyers – Access FCX’s network of high-quality investors
- Create an auditable and compliant record of every process in every transaction, with integrated KYC and AML checks
Tender Market:
- Incentivise shareholders through having a clear exit path – turn equity or ESOPs into real value
- Stay private on your terms – avoid the costs and volatility associated with continuous trading
- No need to search for buyers – Access FCX’s network of high-quality investors
- Provide transparency and regulation in every transaction through our ASIC and RBA licensing
- Retain full control over your cap table
Auction Market:
- Price discovery – let the market decide the price
- Set time and price ranges, then let FCX do the rest
- Provide transparency and regulation in every transaction through our ASIC and RBA licensing
- Visibility and discretion, allow participants to see a live orderbook as it develops
- Access FCX’s wide distribution base
Why FCX?
FAQs
How is FCX regulated?
FCX holds a first-of-its-kind Australian Market Licence (Tier 2) granted by ASIC, which:
- Authorises the holder to operate a licensed financial market in Australia, for private companies and funds
- Is specifically designed for markets that operate on a non-continuous basis, meaning transactions are discrete, event-driven liquidity events
FCX also holds a Clearing and Settlement Facility Licence granted by the RBA which:
- Authorises the holder to operate a facility that clears and settles financial transactions in Australia
- Marks the first time in Australia that a licensed alternative to the ASX has existed for clearing and settlement, and it has been built specifically for the FCX private market
This makes FCX the first fully regulated alternative for facilitating private market secondary transactions.
See our Licences page for further information.
Who owns FCX?
FCX is 100% owned by FinClear, Australia’s leading independent technology and infrastructure provider for financial markets.
How do I sell my shares?
Selling shares through FCX begins with the Company. Because liquidity events are company-led, individuals looking to sell should speak with their company about using FCX’s platform to run a structured liquidity event. When an event is scheduled, investors will be invited to participate through either a tender market or an auction market.
How do I sell my units in a fund?
Selling units through FCX begins with the Fund. As liquidity events are company-led, individuals looking to sell should speak with the fund manager about using FCX’s platform to run a structured liquidity event. When an event is scheduled, investors will be invited to participate through either a tender market or an auction market.
When can I sell my shares or units?
Liquidity events are company-led, meaning that companies or fund managers can choose when these events occur. Due to this, investors will be invited to sell their shares or units when there is an active liquidity event.
Who can participate in tender events?
Participation in tender events on FCX is open to approved investors. Any new investors wishing to participate as a buyer must be a Wholesale or Sophisticated investor and will need to complete an approval process before they can access an event. Existing shareholders and employees of the issuing company can participate by setting up a wallet on the FCX platform and do not need to be a Wholesale or Sophisticated Investor.
Who can participate in auction events?
Participation in auction events on FCX is open to approved investors. Any new investors wishing to participate as a buyer must be a Wholesale or Sophisticated investor and will need to complete an approval process before they can access an event. Existing shareholders and employees of the issuing company can participate by setting up a wallet on the FCX platform and do not need to be a Wholesale or Sophisticated Investor.
What is a Wholesale or Sophisticated Investor?
- This means the investor meets certain legal tests and is considered able to assess higher-risk or more complex investment opportunities without the protections that apply to retail investors.Wholesale investors may include individuals, companies, trusts, SMSFs, family offices, professional investors and other entities that meet the relevant legal tests.A Sophisticated investor is often used to describe someone who qualifies as a Wholesale investor because they meet certain income or asset tests. This usually means they have a certificate from a qualified accountant confirming that they have either:
– Net assets of at least $2.5 million; or
– Gross income of at least $250,000 per year for each of the last two financial years.
What is a Sophisticated or Wholesale investor certificate?
This is a document that verifies an investor meets the definition of a Wholesale or Sophisticated investor under Australian law.
To qualify, an investor must have a certificate from a qualified accountant to confirm they have net assets of at least $2.5 million, or a gross income of $250,000 or more for each of the past two financial years. This certification is required for certain types of investment activity in private markets.
