Australian tech stock exchange to be launched

Australian tech stock exchange to be launched

A new Nasdaq-style exchange that will focus on technology stocks is set to be launched in Australia.

The new exchange is being established by Sydney-based Asia Pacific Technology Exchange (APTEX), a joint venture between the National Stock Exchange of Australia (NSX) and non-profit outfit Enterprise Pacific.

The bourse, due to begin trading in the second half of 2008, will utilise the NSX trading platform.

According to press reports trading is expected to start with at least 20 listed companies and the exchange is looking to attract interest from across Asia.

Geoff Mullins, chairman, Enterprise Pacific, told reporters the exchange is expected to have up to 300 listed companies within the first three years of operation.

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