NYSE Euronext and Caisse des Dépôts are delighted to announce the launch of BLUENEXT, the international exchange for the environment, operating markets in carbon emission allowances and credits.
This initiative follows up the international agreements calling on developed countries to substantially reduce their emissions of greenhouse gases.
BLUENEXT, in which NYSE Euronext holds a 60% interest while the remaining 40% is held by Caisse des Dépôts, today operates a spot market in CO2 emission allowances that is the European leader in the field, from trading through to worldwide DVP settlement in real time.
BLUENEXT benefits from the international reach of NYSE Euronext and its know-how in market operation, combined with the acknowledged expertise of Caisse des Dépôts in carbon financing, in particular as regard technology for the administration of allowances and registries.
BLUENEXT aims to be a world leader for trading in environment-related instruments and will be pursuing this goal with the international deployment of a comprehensive range of a products and services, by the same token consolidating its user base across both financial and industrial sectors.
BLUENEXT’s1 current spot-market offering will thus be rounded out with a spot market in emission credits2 as soon as connections to international logs are operational.
In the second quarter of 2008, BLUENEXT will also be setting up a futures market with physical delivery of allowances and credits3, a move that will favour overall market liquidity and depth. These derivative products will be cleared through LCH.Clearnet SA.
Finally, BLUENEXT is looking beyond Europe, with North America and Asia prime targets for further international expansion.
BLUENEXT is headed by Serge Harry, the member of NYSE Euronext Management Committee charged with group strategy, who is assisted by Deputy CEO Pierre Ducret, Director of Banking Services at Caisse des Dépôts.
Jean-François Théodore, Deputy Chief Executive and Member of the NYSE Euronext Management Committee, comments: “We are delighted to be joining forces with such a prestigious institution as Caisse des Dépôts for the development of BLUENEXT in a sector where NYSE Euronext, as the world’s leading stock-market group, offers substantial value added. Our shared aim is to make BLUENEXT an acknowledged benchmark for environmental markets with a diversified offering of products and services that has the extended scope needed to match global needs.”
Augustin de Romanet, Chairman & CEO, Caisse des Dépôts, comments: “With NYSE Euronext, BLUENEXT has the backing it needs to become the global environmental exchange. Caisse des Dépôts, which makes the sustainable development a strategic priority, is a full partner in this ambition.” -- www.euronext.com
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