NYSE Euronext and environmental markets infrastructure provider APX will create a joint venture, NYSE Blue, to develop global environmental markets, the companies said yesterday.
“The intention is to create other exchanges in other parts of the market. NYSE Blue will operate as one single company around the world and the trading infrastructure will be linked,” Brian Storms, who will become NYSE Blue’s chief executive when the deal is cleared, said yesterday.
NYSE Blue will focus on environmental commodities related to carbon emissions and renewable energy trading but it also sees potential for new types of trading around energy efficiency and water.
Storms, who is currently the chairman and chief executive of APX, would not comment on the value of the joint venture.
US-based financial markets operator NYSE Euronext said earlier it would contribute its 60 per cent shareholding in French emissions exchange BlueNext and be the majority owner of NYSE Blue.
Shareholders in APX, including Goldman Sachs, MissionPoint Capital Partners and ONSET Ventures will take a minority stake in NYSE Blue in return for their shares in APX.
NYSE Blue will try to attract “important and strategic” investors into the new company, Storms said.
It will offer services such as pre-trade and post-trade platforms, environmental registry services, markets reference data and the BlueNext spot emissions platform.
City A.M. Reporter