Euronext NV is considering creating a market for private securities, potentially ramping up competition with the London Stock Exchange Group Plc as bourses seek to offer investors access to fast-growing private companies. The pan-European exchange operator is exploring the possibility of establishing a dedicated venue for unlisted shares, according to people familiar with the matter. Such a move would directly challenge the London Stock Exchange Group's Private Intermittent Securities and Capital Exchange System (PISCES), which launched recently to facilitate trading in private company shares.

Euronext's potential entry into this space underscores a broader trend among exchange operators to capture revenue from the booming private markets, where companies are staying private longer and raising larger sums. The initiative is still in early stages and may not proceed, the people said.

If implemented, it could provide European investors with more opportunities to trade stakes in high-growth startups and unicorns before they go public. The development comes as regulators globally grapple with how to oversee these emerging private markets while protecting investors.