Property Exchange Australia Limited

Based in Melbourne, Australia, and founded in 2010 as National Electronic Conveyancing Development Limited, Property Exchange Australia Limited, trading under the name PEXA, operates an online property exchange platform which was officially launched in New South Wales, Australia, in October 2013. The company further expanded with four of the major banks in Australia joining the company's property exchange network, namely Westpac Banking Corporation, the Commonwealth Bank of Australia, the National Australia Bank, and the Australia & New Zealand Banking Group. To reflect the company's progress in developing the PEXA exchange, it rebranded to Property Exchange Australia Limited in March 2014. In November 2018, a joint bid by Commonwealth Bank of Australia, Link Group, and Morgan Stanley Infrastructure Partners Inc.

agreed to acquire a full-ownership stake in Property Exchange Australia at a company value of AUD 1. 6 billion and eventually completed the transaction in January 2019. As of February 2021, the company is being led by its current CEO, Glenn King. Property Exchange Australia Limited offers PEXA, its national electronic conveyancing platform that allows land registries, banks, and conveyancers to transact together online, seeking to improve transparency for property buyers and sellers in the residential property market.

This online solution reduces manual processing of paperwork and bank cheques, by allowing land registry instruments to be lodged electronically and funds to be transferred in real-time. Property Exchange Australia Limited generates revenue by charging its members depending on the type of implementation model that was purchased. Moreover, The company's members pay only per successful transaction. It does not charge up-front registration fees or ongoing subscription fees.

Also, new members will receive their first digital certificate free of charge but additional digital certificates will cost AUD 154. 77 each, inclusive of GST (goods and services tax).