UPDATE 2-NYSE Euronext, APX form joint venture NYSE Blue

* NYSE Blue to develop global environmental markets

* Current APX CEO Brian Storms to head NYSE Blue

(Adds interview with NYSE Blue CEO, background)

By Nina Chestney

LONDON, Sept 7 (BestGrowthStock) – NYSE Euronext (NYX.N: ) and
environmental markets infrastructure provider APX Inc. will
create a joint venture, NYSE Blue, to develop global
environmental markets, the companies said on Tuesday.

“The intention is to create other exchanges in other parts
of the market. NYSE Blue will operate as one single company
around the world and the trading infrastructure will be linked,”
Brian Storms, who will become NYSE Blue’s chief executive when
the deal is cleared, told Reuters in an interview.

NYSE Blue will focus on environmental commodities related to
carbon emissions and renewable energy trading but it also sees
potential for new types of trading around energy efficiency and

Storms, who is currently the chairman and CEO of APX, would
not comment on the value of the joint venture.

NYSE Euronext shares in Paris (NYX.PA: ) rose 0.76 percent to
23.20 euros at 1429 GMT.

U.S.-based financial markets operator NYSE Euronext said
earlier it would contribute its 60 percent shareholding in
French emissions exchange BlueNext and be the majority owner of
NYSE Blue.

Shareholders in APX Inc., including Goldman Sachs (GS.N: ),
MissionPoint Capital Partners and ONSET Ventures will take a
minority stake in NYSE Blue in return for their shares in APX.

NYSE Blue will try to attract “important and strategic”
investors into the new company, Storms said.

It will offer services such as pre-trade and post-trade
platforms, environmental registry services, markets reference
data and the BlueNext spot emissions platform.

The companies expect the transaction to close by the end of
this year, subject to shareholder and regulatory approval.


Storms said environmental markets will grow in North America
and Asia, even though legislation for a federal U.S.
cap-and-trade scheme and global climate pact talks have stalled.

“We are very mindful of the pace environmental markets are
developing,” said Storms.

“This is a critical marketplace. Over time, policies will be
rationalised and we want be in a position to help influence
those outcomes and be a major participant when they do develop,”
Storms said.

Privately-owned APX Inc. provides infrastructure for
environmental commodities and energy markets. It has a strong
presence in the U.S. renewable energy certificate market and the
global voluntary carbon market.

APX may change its name eventually, but its current services
will continue under the new joint venture, Storms said.

NYSE EuroNext has a 60 percent stake in Paris-based
BlueNext, while French state-owned bank Caisse des Depots holds
the remaining 40 percent.

BlueNext is the main marketplace for spot trading in
European Union carbon permits under the bloc’s $100 billion
emissions trading scheme.

“BlueNext will continue to intensely focus on its core
business in Europe,” Storms said.

He denied that the joint venture was formed in response to
NYSE’s main U.S. rival Nasdax OMX’s (NDAQ.O: ) purchase of Nordic
power exchange Nord Pool ASA in March. [ID:nLDE62G1G8]

“It was a reaction to the market, not an individual
competitor. We believe the two companies will enjoy competitive
advantages which they wouldn’t have enjoyed separately.”
(Reporting by Nina Chestney; editing by Anthony Barker)

UPDATE 2-NYSE Euronext, APX form joint venture NYSE Blue