NYSE Euronext and APX to Establish NYSE BlueTM, a New Venture Targeting Global Environmental Markets
- NYSE Euronext will contribute its ownership in BlueNext in return for a majority interest in the new global company;
- APX, a leading provider of operational infrastructure and services for the environmental and energy markets, will contribute its business in return for a minority interest in the venture;
- NYSE Blue will focus on environmental and sustainable energy initiatives, and will further NYSE Euronext’s efforts to increase its presence in environmental markets globally while attracting new partners and customers.
New York, September 7, 2010 -- NYSE Euronext (NYX) today announced plans to create NYSE BlueTM, a new global company that will focus exclusively on environmental and sustainable energy markets. NYSE Blue will include NYSE Euronext’s existing investment in BlueNext, the world’s leading spot market in carbon credits, and APX, Inc., a leading provider of regulatory infrastructure and services for the environmental and sustainable energy markets. NYSE Euronext will be a majority owner of NYSE Blue and will consolidate its results. 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. Subject to customary closing conditions, including APX shareholder approval and regulatory approvals, the APX transaction is expected to close by the end of 2010.
NYSE Blue will provide a broad offering of services and solutions 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.
“Our listed companies and markets customers increasingly need innovative tools and trading instruments to manage new types of business risks including those around energy, carbon, renewable energy, water and other environmental factors,” said Duncan L. Niederauer, Chief Executive Officer, NYSE Euronext. “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 our portfolio of services and attracting new partners and customers.”
“The combination of an environmental commodities infrastructure provider and a global exchange offers a unique entry point into these rapidly developing markets,” said Brian Storms, Chairman and CEO of APX. “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 and APX are well suited to lead this market going forward.”
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, enabling them to realize their full potential in energy and environmental markets.
Goldman Sachs served as advisor to APX on the transaction.
NYSE Euronext Contacts
APX is the leading infrastructure provider for environmental commodities and energy. APX Environmental Markets’ business services include the APX Environmental Management Account™, a comprehensive suite of solutions for environmental asset and risk management in the new carbon economy (www.emaccount.com). More than 1300 global firms trust APX registry technology to issue, track, manage and retire environmental commodities across all renewable energy markets in North America and carbon markets worldwide. APX Power Markets provides technology through its APX MarketSuite®, strategic consulting, and expert operational services to assist wholesale power market participants reduce costs and improve performance in power scheduling, settlement, market operations, system operations support, and demand response programs. APX is a privately held company. www.apx.com
BlueNext is an environmental exchange with global ambitions. BlueNext was established in December 2007 when NYSE Euronext and Caisse des Dépôts joined forces to create the world's leading exchange for environmental-related products. BlueNext plays a key role in using markets mechanisms to price and reduce greenhouse gas emissions. For more information, go to: www.blueNext.eu.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income, and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, and the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: www.nyx.com.