BlueNext, a Paris-based carbon exchange owned by NYSE Euronext, is to link with US energy market infrastructure provider APX and build global markets for environmental commodities under a joint venture named NYSE Blue.
NYSE Euronext will take an undisclosed majority stake in the venture and will consolidate its results. APX shareholders – which include Goldman Sachs MissionPoint Capital Partners and Onset Ventures – will take a minority stake in NYSE Blue. The deal is expected to close before the end of the year.
NYSE Blue has ambitions to launch carbon exchanges in the US and Asia but, with many ambiguities about the progress of climate legislation, the timescale for this is uncertain, said Brian Storms, chairman and chief executive of APX, who will become the CEO of NYSE Blue.
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