The London Stock Market announced the techMARK exchange, for trading in UK-based technology stocks, yesterday.
Bringing together London listed companies, involved in cutting edge high-technology, it is hoped the existence of such a forum shall provide a wider range of opportunities for youthful technology based companies, within the UK-equity market.
Starting in November, the market will link companies from both the FTSE 100 and FTSE Fledgling. The 170 companies so far expected to be listed on this new exchange will be joined by a series of young innovators. The Stock Exchange is currently drafting proposals, offering a new route to public trading for companies who do not fulfil the stringent requirements of the three-year trading record.
Gavin Casey, chief executive of the London Stock Exchange said: "London is a major centre for the listing and trading of all types of companies, including leading technology stocks. The launch of techMARK builds on this success, and is part of our long-term drive to support innovative growth companies, including smaller businesses."
The stocks traded in this new forum are expected to include computer hardware, computer services, internet, semiconductors, software, and telecommunications equipment. They could be joined by companies from the following sub-sectors: Aerospace, defence, electrical equipment, fixed-line telecommunications services, medical equipment and supplies, pharmaceuticals, and wireless telecommunications services.