High-Speed Trader GTS to Create Online Market for Pre-IPO Shares

ClearList venture to allow private companies to issue and sell shares, avoid cost of initial public offering

One of the top electronic trading firms at the New York Stock Exchange plans to launch a new online marketplace where investors can buy and sell shares of private companies.

New York-based GTS unveiled the venture, called ClearList, on Wednesday. The first transactions on ClearList could come within a month, executives of GTS and ClearList said. The venture may appeal to investors hoping to get in early on the next Facebook Inc. or Zoom Video Communications Inc., at a time when companies have been waiting longer to hold initial…