NYSE Euronext and exchange operator APX plan to create NYSE Blue, a joint venture that will focus exclusively on environmental and sustainable energy markets.
NYSE Euronext will be a majority owner of NYSE Blue. Shareholders of APX, which include 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 provide a range of services such as integrated pre-trade and post-trade platforms, environmental registry services, a front-end solution for accessing the markets and managing environmental portfolios, environmental markets and reference data.
NYSE Blue will mainly focus on North America and Asia. Upon closing of the transaction, chairman and CEO of APX Brian Storms will become CEO of NYSE Blue.
NYSE Euronext CEO Duncan Niederauer said that the formation of NYSE Blue and addition of APX will build upon BlueNext’s business and strengthen NYSE Euronext’s position in environmental markets on a global scale by expanding the NYSE Euronext portfolio of services and attracting new partners and customers.
APX chairman and CEO Brian Storms said that the combination of an environmental commodities infrastructure provider and a global exchange offers a unique entry point into these rapidly developing markets.
“Market Participants and regulators the world over are demanding purpose-built infrastructure, innovative solutions and transparency to facilitate the formation of these emerging markets,” Storms said.
Subject to customary closing conditions, including APX shareholder approval and regulatory approvals, the APX transaction is expected to close by the end of 2010.