The electronic conveyancing exchange PEXA will move to the next stage of development in October, when participants in New South Wales and Victoria will be able to complete property transfers and financial settlements on the exchange's clearing system.PEXA said in a media statement yesterday that, from October, PEXA would support new mortgages, mortgage discharges, refinances, notices, caveats and transfers.Initially the service will be available in Sydney and Melbourne but PEXA hopes to have "regional hubs" operating on the system by February next year.Currently all four big banks and the land titles offices of Western Australia, Victoria, New South and Queensland are PEXA participants. Earlier this month PEXA announced that Suncorp, bankmecu and Teachers Mutual Bank had joined.The next stage of development will bring solicitors and conveyancers into the system.