The Canadian Securities Exchange has outlined an ambitious plan to establish a meaningful alternative listing venue in Australia for early-stage and venture-capital-backed companies, as part of its proposed acquisition of the National Stock Exchange.

But the transaction comes despite several headwinds, including a dearth of public listings. Parties including NSX – which owns and operates the National Stock Exchange of Australia – and rival Sydney Stock Exchange, have tried but failed to make significant inroads against the ASX.