NYSE Euronext to acquire Powernext Carbon

NYSE Euronext has reached an agreement with French energy exchange Powernext to acquire Powernext Carbon, the company's emission permit division, as part of its plan to set up an international carbon market.

Powernext will provide the basis for an organized international market in CO2 emission permits and credits to be developed in association with Caisse des Dépôts et Consignations (CDC).

This transaction, which remains subject to the approval of the Extraordinary General Meeting of Powernext shareholders on December 21, would be coupled with NYSE Euronext's complete withdrawal from Powernext through the sale of its 34% stake in the company.

From early 2008 a joint venture between NYSE Euronext and Caisse des Dépôts et Consignations will offer the full range of international market services for carbon emission permits, from trading to settlement and delivery.

The move comes as exchange operators look to increase their carbon trading capabilities.

The CME Group, the world's largest derivatives market, has said it is interested in developing carbon trading products, while Nymex Holdings, owner of the New York Mercantile Exchange (Nymex), recently revealed it will begin offering contracts for carbon trading in early 2008.

Nymex has also long been rumoured to be a potential takeover target for NYSE Euronext.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

CTRM systems 2024: market update and vendor landscape

A Chartis report on commodity trading and risk management systems that considers its different applications and addresses the market and vendor dynamics to determine the long-term and structural impacts of the overarching market evolution on the…

Chartis Energy50 2023

The latest iteration of Chartis' Energy50 2023 ranking and report considers the key issues in today’s energy space, and assesses the vendors operating within it

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here