A plan to create a new independent stock exchange for Scotland has been launched.

A website for the planned exchange said Edinburgh-based SCOTEX will be “a new and innovative stock exchange that will offer capital markets access for the next generation of scientists, inventors and entrepreneurs of Scotland.”

“It is crucial for Scotland that its wealth creators – now and in the future – have a visible equity capital market that is able to provide them with access to the capital they need to grow their companies,” said the site.

SCOTEX said it intends to offer trading “in all UK official list companies” as well as those with a primary listing on SCOTEX.

This means that shares of London Stock Exchange companies will also be able to trade on SCOTEX.

“SCOTEX intends to dramtically transform the UK share trading landscape by slashing settlement times from three days to near instantaneous settlement using Blockchain technology,” said the site.

SCOTEX will also launch a SCOTS-50 index of leading Scots listed companies.