Australia to get its own IT NASDAQ

In late 2008, Australia will have its own specialist exchange for technology companies, similar to NASDAQ in the United States and AIM in the United Kingdom. It will be dubbed the Asia Pacific Technology Exchange (APTEX), with an expected 20 companies to be listed when it opens.

APTEX has been established by a joint venture between NSX Limited, the owner and operator of the National Stock Exchange of Australia (NSXA), and Enterprise Pacific Limited – a not-for-profit company formed under the Pacific Technology Corridor Business Plan to establish Australia’s equivalent of the Atlantic Technology Corridor and Silicon Valley.

According to chairman of Enterprise Pacific, Geoff Mullins, APTEX will increase coverage of the small to medium business sector as well as being a springboard for covering Asia Pacific markets.

Mullins told CRN that there is a fundemental problem emerging with technology companies in Australia and that is they don’t have a source of financial backing from venture capital organisations, which Mullins believes is nothing like true venture capitals in the US.

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