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Nyse Euronext and Caisse des Dépôts launch carbon trading facility

22 January 2008  |  3604 views  |  0 Digital Abstract

Transatlantic exchange operator Nyse Euronext has teamed with French state bank Caisse des Dépôts to launch a European carbon emissions market called Bluenext.

Bluenext operates a spot market in CO2 emission allowances. The US exchange holds a 60% stake in the carbon exchange, with Caisse des Dépôts holding the remaining 40%.

The venture is headed by Serge Harry, the member of Nyse Euronext Management Committee charged with group strategy. He is assisted by deputy CEO Pierre Ducret, who is director of banking services at Caisse des Dépôts.

The new exchange also plans offer a spot market in emission credits - emission rights obtained by undertaking projects that reduce CO2 emissions - as soon as the international transfer of credits is made possible.

In the second quarter of 2008, Bluenext will also introduce futures market with physical delivery of allowances and credits. These derivative products will be cleared through LCH.Clearnet.

The carbon exchange will also look to expand outside Europe, specifically in North America and Asia.

Commenting on the venture, Jean-François Théodore, deputy CEO of Nyse Euronext, says: "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."

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