Portfolio Stock Exchange

Name

Portfolio Stock Exchange

Legal name

European Digital Securities Exchange, S.V., S.A.

Website

https://portfolio.exchange

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Multilateral Trading Facility / Securities Exchange Platform

NAICS

Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (5232), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Multi-Asset Alternative Trading Systems (ATS) / Multilateral Trading Facilities (MTF) (FSAFAEAC)

akta.pro secondary industries

Corporate Bond Trading Platforms (FSAFACAB), Fixed Income Electronic Trading Platforms (Bonds/Credit) (FSAFANAB), Primary Listing Stock Exchanges (FSAFAAAA), Private Placements (144A/Reg S/MTN) (FSACABAK)

Keywords

• Multilateral trading facility
• Stock exchange platform
• Primary market issuance
• Secondary market trading
• Digital securities exchange

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Issuance/Listing Fees: One-time fees for listing financial instruments on the exchange. Significantly lower than traditional exchanges (€105,800 vs €254,300 for €40M equity listing). Includes primary market subscription, offering memorandum processing, and admission to trading.
2. Annual Maintenance Fees: Recurring annual fees for maintaining listed instruments. Reduced costs compared to traditional markets (€37,800 vs €126,800 annually for €40M equity). Covers ongoing compliance, reporting, and market access.
3. Custody Services: Safekeeping of client funds and financial instruments. Portfolio acts as custodian/subcustodian of its own market, integrated with Euroclear for Central Securities Depository services.
4. Trading/Settlement Fees: Zero trading fees per executed trade. Internalized settlement service at no cost. Revenue generated through overall platform usage rather than per-transaction charges.
5. Premium Partner Services: Enhanced advisory and support services through vetted partner network of law firms, MTF advisors, and corporate service providers who support client onboarding and ongoing operations.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Portfolio Stock Exchange operates a Multilateral Trading Facility (MTF) that integrates primary market issuance, secondary market trading, custody, and post-trade processes onto a single digital platform for equity, debt, funds, and money market instruments. It enables companies to list and raise capital while giving ECPs, professional, and retail investors direct, broker-free access to trade listed instruments with real-time T+0 settlement. The platform is authorized by the CNMV and reduces listing and operating costs by up to 90% versus traditional exchanges by eliminating 14 intermediaries.

Product overview

Portfolio Stock Exchange is a single, unified Multilateral Trading Facility (MTF) that integrates primary market issuance, secondary market trading, custody, and post-trade processes into one platform. The core offering combines a primary market platform for streamlined capital raising with secondary market trading capabilities, all supported by integrated digital onboarding, custody services (via Euroclear), and real-time settlement. The platform serves multiple investor segments (ECPs, professional investors, and retail investors) and supports various financial instruments including equity, REITs/SOCIMIs, bonds, and investment funds. Additional features include syndication tools, fee simulation, cap table management, built-in messaging, and liquidity management—all accessible via web and mobile applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Primary Market Platform
• Secondary Market Trading
• Custody Services
• Digital Onboarding (KYC/KYB)
• Web Trading Platform
• Mobile Application
• Market Data Access
• API Connectivity

Quantifiable outcome

• Up to 90% cost savings on listing and annual fees
• +7 more outcomes

Named customers9 records

Segments11 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

46 partnerships are on record, tiered core, flagship and minor.

• Alter SoftwarecoreTechnology or IntegrationTechnology partner providing ALTER Finance platform - the core technology infrastructure powering Portfolio Stock Exchange's back office, regulatory compliance, brokerage, settlement, custody, and reporting systems. Over 20 years experience in Spanish IT financial sector.
• EuroclearcoreTechnology or IntegrationCentral Securities Depository holding omnibus accounts for custody of all client financial instruments. Critical infrastructure partner for securities safekeeping.
• Uría MenéndezflagshipStrategic or Co-development PartnerLeading Spanish law firm with Debt & Equity Capital Markets practice. Contact: Enrique Nieto Bracklemannsen. Primary partner for complex capital markets transactions.
• GarriguesflagshipStrategic or Co-development PartnerMajor law firm with Debt & Equity Capital Markets specialists. Contacts: Gonzalo García-Fuertes Iglesias and José Luis Palao Iturzaeta (Partners, Madrid).
• Clifford ChanceflagshipStrategic or Co-development PartnerGlobal law firm with REITs and Tax practice. Contact: Pablo Serrano de Haro (Partner, Madrid).
• AshurstflagshipStrategic or Co-development PartnerInternational law firm with Debt Capital Markets (EU & USA) and M&A & Private Equity practices. Contacts: Tara Waters (Partner, London) and Pedro Ester Palacios (Partner, Madrid).
• KPMGflagshipStrategic or Co-development PartnerBig 4 accounting firm with Capital Markets practice. Contact: Maitane de la Peña (Director, Madrid).
• Pérez-LlorcaflagshipStrategic or Co-development PartnerSpanish law firm with Financial Services & Investment Funds and Debt & Equity Capital Markets practices. Contacts: Josefina García Pedroviejo and Yolanda Azanza Crespo (Partners, Madrid).
• Allen & OveryflagshipStrategic or Co-development PartnerGlobal law firm with Debt Capital Markets practice. Contact: Salvador Ruiz Bachs (Partner, Madrid).
• Freshfields Bruckhaus DeringerflagshipStrategic or Co-development PartnerGlobal law firm with Corporate and M&A practice. Contacts: Armando Albarrán and Alfonso de Marcos (Partners, Madrid).
• DLA PipercoreStrategic or Co-development PartnerGlobal law firm with Capital Markets practice. Contact: Jesús Palencia (Of Counsel, Madrid).
• PWCflagshipStrategic or Co-development PartnerBig 4 firm with Banking & Finance, Corporate/M&A/Capital Markets, and Tax/Real Estate/REITs practices. Contacts: Beltrán Gómez de Zayas, Javier Mateos, Emilio Gómez Delgado (Partners, Spain).
• Ramón y CajalcoreStrategic or Co-development PartnerSpanish law firm with Capital Markets, Real Estate, and Corporate/M&A practices. Contacts: Carlos Lao, Miguel Ferre, Ignacio Aragón (Partners, Madrid).
• LinklatersflagshipStrategic or Co-development PartnerGlobal law firm with Capital Markets practice. Contacts: Jorge Alegre and Pablo Medina (Partners, Madrid).
• AndersenflagshipStrategic or Co-development PartnerInternational law firm with Equity Capital Markets, Debt Capital Markets, Banking & Finance, M&A, and Tax practices across Spain. Multiple partners including Marta Morales Crespo, Jorge Cuello Blanco-Morales, Guillermo Muñoz-Alonso, Juan Ignacio Alonso Dregi, Juan Roda Moreno.
• BDOcoreStrategic or Co-development PartnerAccounting firm with Corporate Real Estate practice. Contacts: Juan Gómez-Acebo Sáenz de Heredia (Of Counsel) and Ángel Vizcaíno Perea (Partner, Madrid).
• Martínez-EchevarríaminorStrategic or Co-development PartnerLaw firm with Real Estate & REITs practice. Contact: Iván Picó Madrigal (Partner, Madrid).
• Gómez-Acebo & PombocoreStrategic or Co-development PartnerSpanish law firm with Capital Markets practice. Contacts: Guillermo Guerra and Augusto Piñel (Partners, Madrid).
• Bird & BirdcoreStrategic or Co-development PartnerInternational law firm with Real Estate and Financial & Regulatory practices. Contacts: Conchita Sainz Sodupe and Fernando Gutiérrez Rizaldos (Partners, Madrid).
• CuatrecasasflagshipStrategic or Co-development PartnerMajor Spanish law firm with multiple partners covering Financial and Capital Markets. Contacts: José Ramón Berecibar, Juan Aguayo, Jose Luis Rodriguez, Ignacio Escrivá, Pere Kirchner, Gerard Correig, Roger Freixes, Ana Mª Gamazo.
• EcijacoreStrategic or Co-development PartnerSpanish law firm with Capital Markets, Corporate & Governance, and Tech/Media/Telco practices. Contacts: Miguel Sánchez, Alberto Alonso Ureba, Alonso Hurtado (Partners, Madrid).
• DentonscoreStrategic or Co-development PartnerGlobal law firm with Capital Markets practice. Contact: Ignacio Corujo del Valle (Partner, Madrid).
• CroweminorStrategic or Co-development PartnerAccounting and advisory firm with Financial Regulation & Capital Markets practice. Contact: Gonzalo Navarro Ruiz (Partner, Spain).
• SW (Santiago & Torres)minorStrategic or Co-development PartnerLaw firm with Advisory and Tax & Legal practices. Contacts: Loreta Calero Pérez and Álvaro Pericas Ruiz (Partners, Spain).
• Evergreen LegalminorStrategic or Co-development PartnerLaw firm with Banking & Finance practice. Contact: Alberto Campo Caballero (Partner, Madrid).
• Eversheds SutherlandminorStrategic or Co-development PartnerGlobal law firm with Banking & Finance practice. Contact: Borja Dopico (Senior Associate, Spain).
• BarrilerominorStrategic or Co-development PartnerLaw firm with Legal Angels, Private Wealth & Regulatory Financial, and Corporate/M&A/Capital Markets practices. Contacts: Tomás Barrilero, Alfonso Martínez Parrasa, Ignacio López-Balcells, Mireia Blanch.
• Deloitte LegalcoreStrategic or Co-development PartnerBig 4 legal arm with Regulatory & Compliance practice. Contact: Francisco Javier Ramírez Arbués (Partner, Madrid).
• EYflagshipStrategic or Co-development PartnerBig 4 firm with Corporate Governance & Capital Markets practice. Contact: Mónica Represa Rebaque (Partner, Madrid).
• DevesaminorStrategic or Co-development PartnerLaw firm with Corporate/M&A/Capital Markets and Tax Legal practices. Contacts: David Devesa Rodríguez (Founding Partner & CEO), Juan Antonio Botella, José María García (Managing Partner).
• BrosetaminorStrategic or Co-development PartnerSpanish law firm with Corporate and M&A and Tax practices. Contacts: Rubén Aísa García and Javier Morera Climent-Pallarés (Partners, Madrid).
• AurenminorStrategic or Co-development PartnerAudit and advisory firm with Capital Markets practice. Contact: Ramón Ruiz de la Torre (Partner, Madrid).
• Buades LegalminorStrategic or Co-development PartnerLaw firm with Capital Markets practice. Contact: Gabriel Buades Castellà (Partner Director, Spain).
• FinReg360minorStrategic or Co-development PartnerRegulatory consultancy with Capital Markets and Financial Regulation practice. Contacts: Gloria Hernández Aler, Úrsula García Giménez, Ana Benítez Lanza (Partners, Spain).
• ArmanextcoreChannel Partner/ Reseller/ DistributorMTF Advisor specializing in PYME & SOCIMI listing advisory. Contact: Antonio Fernández Hernando (President, Madrid).
• Abbaco MarketscoreChannel Partner/ Reseller/ DistributorMTF Advisor with Capital Markets expertise. Contacts: Ana Hernández (Co-founder, Madrid) and Virginia García-Trevijano Hinojosa (Co-founder, Madrid).
• VGM AdvisorycoreChannel Partner/ Reseller/ DistributorMTF Advisor with Debt & Equity Capital expertise. Contact: Gerardo Torres de las Heras (Managing Partner, Madrid).
• GPMcoreChannel Partner/ Reseller/ DistributorInvestment firm and market member providing Debt & Equity Capital Markets services. Contact: Carlos Ladero (Sales Manager, Madrid).
• Apex GroupflagshipImplementation/ SI/ Consulting PartnerListing & Corporate services provider with global operations. Contact: Paloma González (Director, Spain - Regional Head of Operations Corporate Solutions South/East Europe). Part of Sanne Group.
• CitcoflagshipImplementation/ SI/ Consulting PartnerCorporate solutions provider for investment funds and asset managers. Contact: Conchita Castaño (Managing Director, Spain).
• Palmer GroupcoreImplementation/ SI/ Consulting PartnerCorporate services provider for fund administration and governance. Contacts: Fátima Fernández-Tagle (Head Business Development) and Manuel Rodríguez de Andrés (Managing Director, Spain).
• Alter DomuscoreImplementation/ SI/ Consulting PartnerCorporate services provider for alternative investments. Contacts: Oscar García Collado (Country Head, Spain) and Paula Gomáriz Blesa (Corporate Legal Senior Manager, Spain).
• GesvaltcoreImplementation/ SI/ Consulting PartnerCompany & Asset valuation firm. Contact: Clara Tejerizo Cabello (Business Development Manager, Madrid).
• Grupo TecnitasacoreImplementation/ SI/ Consulting PartnerReal estate and company valuation firm. Contact: Sergio Espadero Colmenar, MRICS (Head of Consulting & Valuation, Spain).
• SavillscoreImplementation/ SI/ Consulting PartnerGlobal real estate services firm with valuation practice. Contact: Fernando Vigueras Muñoz (National Manager, Spain).
• HipogesminorImplementation/ SI/ Consulting PartnerReal estate asset management and valuation firm. Contact: Miguel Fernández Fernández (Executive Director, Iberia).

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Euronext Growth: Euronext Growth is the pan-European growth-company MTF (Milan, Paris, Dublin, Lisbon, Brussels, Amsterdam, Oslo), the most direct cross-border competitor to Portfolio for European SME and fund listings under MTF rules.
• AIM (London Stock Exchange): AIM is the LSE's flagship MTF for small and growth companies, comparable in regulatory structure (MTF under EU/UK rules) and in serving issuers that find full-exchange listing uneconomic. Relevant alternative-listing benchmark for mid-cap and VC/PE issuers.
• Spotlight Stock Market: Spotlight is a Swedish alternative multilateral trading facility targeting smaller growth companies and issuers unsuitable for Nasdaq Nordic main markets — same MTF structure, same SME-issuer focus.
• Nasdaq First North Growth Market: Nasdaq First North Growth Market is a pan-Nordic and Baltic MTF providing lighter-touch access for smaller issuers. Same MTF regulatory model, same target issuer profile (growth companies below main-market thresholds), and same reliance on partner-driven distribution.
• BME Growth: BME Growth is the Spanish stock exchange's SME growth-market MTF, directly competing with Portfolio for Spanish small-cap, SOCIMI, and growth-company listings. Both target Spanish issuers that cannot meet BME Main Market requirements.

Emerging players

• PrimaryBid: PrimaryBid is a UK-based retail-investor access platform for IPOs and placings, increasingly extending into secondary markets. Comparable to Portfolio's investor-side GTM motion (direct retail access, integrated onboarding) and overall mission of broadening capital-market participation.
• Seedrs Secondary Market: Seedrs operates an FCA-regulated secondary market for unlisted securities, addressing the same investor-liquidity pain point that Portfolio lists for crowdfunding platforms. A partial-overlap competitor at the crowdfunding-secondary-market use case.
• The International Stock Exchange (TISE): TISE is a smaller European exchange focused on debt securities and investment vehicles — directly comparable to Portfolio's bond and fund-listing verticals. Both compete for debt issuer and fund listings under similar lighter-touch regulations.

Broad incumbents

• BME (Bolsas y Mercados Españoles): BME is the operator of the Spanish Stock Exchange and BME Growth (above). As the incumbent Spanish exchange group with full-exchange listing depth, it is Portfolio's main domestic reference competitor and a potential retaliatory price-setter.
• Deutsche Börse Scale: Deutsche Börse's Scale segment is an SME growth market within a major incumbent exchange group. Same issuer profile as Portfolio but bundled inside a Tier-1 exchange and with stronger index/membership-driven investor reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Portfolio_SE

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Portfolio Stock Exchange