LSE's New Technology Market To Launch In November

The London Stock Exchange today announced the launch of a new market for technology companies - techMARK. The new market brings together London listed companies involved in leading edge technologies, creating a central focus for investors; streamlined rules will provide a wider range of young, innovative growth companies with access to the UK equity market. The new market goes live in November linking companies from across the main market - ranging from the FTSE 100 to the FTSE Fledgling. It marks a new approach to stock market investment, uniting companies that share common attributes - in this case a commitment to technological innovation. This 'attribute approach' is particularly beneficial to smaller companies which gain from the increased visibility of being grouped with their peers. techMARK provides a range of additional benefits for companies and investors: Increasing the profile and visibility of technology shares - companies will be included in both their existing FTSE Index and the new FTSE techMARK Indices; Enabling private and professional investors to target technology stocks more easily - regardless of size, industrial sector or location; Providing a new investment benchmark for both institutional and private investors; Offering an early route to the main market for young developing technology companies without the traditional three year trading record. Speaking at the launch of techMARK, 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 market will encompass over 170 companies already listed on the main market identified as innovative technology companies. A new route for innovative growth companies which do not possess the three-year trading record currently required to list on the Exchange will also be introduced. When the market goes live in November, FTSE International will be calculating real time indices for techMARK. Companies on the market will be included in the FTSE techMARK indices as well as retaining their existing FTSE Index and industry classification - enhancing each company's profile. FTSE International managing director Mark Makepeace said: "The new techMARK indices will enable investors to invest directly in this exciting new market. I am confident that you will see retail funds based on the FTSE techMARK indices before the year end". The Exchange is backing techMARK, the first in a series of initiatives to promote growing and smaller companies, with a series of marketing initiatives. These include a dedicated new area on its website which will act as a central point for information on techMARK and the companies on it (www.londonstockexchange.com/techmark). The new site offers private investors key current and historic information on techMARK companies - including 15 minute delayed prices - via a link to Hemmington Scott's on-line company information service. A national advertising and direct mail campaign supported by a special helpline (+44 171 797 2000) for enquiries about the market also kick off today.