It's Unofficial: New Nasdaq-style Market for UK
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The London Stock Exchange has neither confirmed nor denied reports that it intends to launch a new market for technology stocks, modelled on the Nasdaq.
However, the need for such a market has been clear for some time, and reports from the BBC and leading newspapers suggest that serious plans are in the pipeline.
Among the speculation is that the market will be called Techmark and will launch as early as September this year.
A spokeswoman for the London Stock Exchange gave credence to the speculation by saying that LSE was "not ready to launch it yet."
Since the flotation of Dixon's Freeserve in July, the city has woken up to the fact that there are other, smaller businesses without a track-record of profitability that need to raise capital. Techmark would be the natural home for UK Internet stocks with high-growth potential.