A new Scottish stock exchange could be up and running within months, developers claim.

The company behind the plans, Bourse Scot Ltd, has agreed a partnership with established stock market operator Euronext, and claims the exchange could launch in the second quarter of 2019.

The initiative, known as Project Heather, will form the first Scottish stock exchange since the 1970s, with a head office in Edinburgh and further offices planned for Glasgow and Aberdeen.

Project leader Tomás Carruthers, an experienced broker and entrepreneur, said: “Stock exchanges play a vital role in bringing together investors and businesses seeking investment.

“In the 1960s there were five such exchanges across Scotland, enabling Scottish investors to directly fund business opportunities which, in turn, supported economic growth.

“Fifty years on and the economic landscape in Scotland is very different. Growth sectors such as renewable energy and biotechnology have once again established Scotland’s standing as a centre of global excellence. A Scottish stock exchange will ensure companies can continue to find the financing they need to reach their full potential.

“It’s clear there are strong regional economies across the UK, and Scotland is thriving with the combination of global industrial leaders, world-class universities, and an established professional community.”

Bourse Scot claims it is already in talks with a number of potential issuers who intend to use the exchange to raise investment.

The company is also in discussion with Scottish Enterprise with a view to creating around 60 highly-skilled jobs.

Officials believe the exchange will provide a boost to the country’s professional advisory community, much of which is already working with companies listed on other markets.

Euronext is one of the world’s largest stock exchange operators, and the leading European exchange covering Belgium, France, Ireland, The Netherlands, Portugal and the UK.

The new Scottish exchange will be powered by operator’s trading platform, Optiq®.

Nick Thornton, Head of Euronext Technology Solutions said: “We are delighted to have been selected for this important project. The Optiq® service enables our clients to focus on business innovation and growth while relying on our established pan-European infrastructure.”

Mr Carruthers, who is in discussions with the Financial Conduct Authority about the plans, is being supported by a number of advisors including Mike McCudden, Douglas Boyce, Kevin Milne and Heather Buchanan.