Technology exchange lauded
Australia’s version of the United States’ NASDAQ and the United Kingdom’s AIM was launched in Sydney today.
The new Asia Pacific Technology Exchange (APTEX), set to commence trading later this year, is a joint venture of NSX, the owner and operator of the National Stock Exchange of Australia (NSXA), and not-for-profit organisation Enterprise Pacific, formed to establish a local equivalent of the Irish-based Atlantic Technology Corridor and the US’ Silicon Valley.
Speaking at the APTEX launch in Sydney today, Maxine McKew, Federal Member for the electorate of Bennelong, where the exchange will be located, highlighted the need for Australia to become an “innovation economy”.
“APTEX is an example of what is needed to attract capital to promote Australian innovation and technology. The 21st century role of government is to support nation building and Australia’s comparative advantage in technology and APTEX is making a welcome contribution to this objective.”
NSX expects 20 companies to be listed on APTEX when it opens later this year. Companies listing will need to meet NSX requirements and trading will be via the NSX trading platform.
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