The Irish Stock Exchange (ISE) has launched a new market for growth and technology stocks to stem the flow of Irish technology companies to the London Stock Exchange, Nasdaq and the Neuer Markt.

The new market, which was officially launched this morning, will be called Iteq and has been launched with six stocks: Horizon Technology, Icon, Iona Technologies, ITG Group, Trinity Biotech and Riverdeep. The initial market capitalisation of the six stocks is €3.64m ($3.17m). While all of them already listed on the Irish Stock Exchange, Iteq plans in time to attract new listings from the Irish technology sector.