What the prices are
Prices shown for unlisted shares are indicative. Each one shows its type — a verified transaction, a dealer's buy or sell quote, a seller's or buyer's quote, or an indicative price calculated by CapitalScope from such inputs — with its time and source and, where available, the quantity.
Indicative unlisted-security prices are not exchange prices and should not be treated as guaranteed executable prices. Quotes can differ widely between dealers, can be out of date, and the price you can actually trade at may be very different.
How the indicative price is worked out
The indicative price is the median of the independent prices available in the last 30 days: each permitting dealer's latest buy and sell quotes (their midpoint), each platform's latest stated price, and the latest transaction CapitalScope has verified. Quotes on one side only, and buyers' or sellers' asking prices, are shown but not included. Its confidence is high only when three or more recent prices agree closely; a single quote gives low confidence. When there is no such price, no indicative price is shown. The implied market value is the indicative price multiplied by the shares outstanding; it is not a valuation.
Where they come from
CapitalScope shows quotes only from dealers and platforms that have permitted it, and transactions it has verified. CapitalScope is not paid by any dealer to show its quotes.
What CapitalScope does not do
CapitalScope does not buy, sell, hold, transfer or arrange trades in any security, does not act as a broker, dealer or intermediary, and does not take money for securities. Any future feature that connects buyers and sellers would be offered only after legal and regulatory review and, where required, through licensed or registered partners.