NYSE Euronext (NYSE: NYX) today announced plans to create NYSE Blue, a joint venture that will focus exclusively on environmental and sustainable energy markets.
NYSE Blue will include NYSE Euronext’s existing investment in BlueNext, a spot market in carbon credits, and APX, Inc., a provider of regulatory infrastructure and services for the environmental and sustainable energy markets.
NYSE Blue will offer a range of services
including integrated pre-trade and post-trade platforms, environmental
registry services, a front-end solution for accessing the markets and
managing environmental portfolios, environmental markets reference data,
and the BlueNext trading platform. NYSE Blue will expand globally with a
focus on North America and Asia. Upon closing of the transaction, Brian
Storms, Chairman and CEO of APX, will become CEO of NYSE Blue.
“The combination of an environmental commodities infrastructure provider
and a global exchange offers a unique entry point into these rapidly
developing markets,” Storms said. “Market
Participants and regulators the world over are demanding purpose-built
infrastructure, innovative solutions and transparency to facilitate the
formation of these emerging markets.”
NYSE Euronext will be a majority owner of NYSE Blue and will consolidate its results. Shareholders of APX, which include Goldman Sachs (NYSE: GS), MissionPoint Capital Partners, and ONSET Ventures, will take a minority stake in NYSE Blue in return for their shares in APX. Subject to customary closing conditions, including APX shareholder approval and regulatory approvals, the APX transaction is expected to close by the end of 2010.
APX, founded in 1996, provides front-end trading solutions specifically for environmental and power markets and post-trade infrastructure for the transfer and settlement of renewable energy and carbon credits. Among its product and service offerings, APX provides complete coverage for renewable energy certificate (REC) creation, management and transactions across North America to facilitate the continued dramatic growth of clean energy generation and usage. APX also delivers expertise and services to energy companies, financial institutions, brokers, marketers and global corporations.
BlueNext was established in December 2007 when NYSE Euronext and Caisse des Dépôts joined forces to create an exchange for environmental-related products. BlueNext plays a key role in using markets mechanisms to price and reduce greenhouse gas emissions.
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