NYSE Euronext and French public sector financial institution Caisse des Dépôts have launched Bluenext, an international exchange that operates markets in carbon emission allow
NYSE Euronext and French public sector financial institution Caisse des Dépôts have launched Bluenext, an international exchange that operates markets in carbon emission allowances and credits.
Bluenext, in which NYSE Euronext holds a 60 per cent interest while the remaining 40 per cent is held by Caisse des Dépôts, currently operates a spot market in carbon dioxide emission allowances, Bluenext Spot EUA.
The partners say the new exchange benefits from the international reach of NYSE Euronext and market experience combined with the expertise of Caisse des Dépôts in carbon financing and especially technology for the administration of allowances and registries.
They aim to make Bluenext a world leader for trading in environment-related instruments through the launch of a range of products and services aimed at both financial and industrial clients. Bluenext will open a spot market in emission credits, Bluenext Spot CER, as soon as regulatory approval has been obtained and connections to international logs are operational.
In the second quarter of this year, Bluenext will also set up a futures market with physical delivery of allowances and credits, Bluenext EUA and CER Futures, a move designed to promote overall market liquidity and depth. The derivative products will be cleared through LCH.Clearnet. The new exchange is looking to expand beyond Europe, notably to North America and Asia.
Bluenext is headed by chief executive Serge Harry, the member of the NYSE Euronext management committee in charge of group strategy, with Pierre Ducret, director of banking services at Caisse des Dépôts, as his deputy.
‘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,’ says NYSE Euronext deputy chief executive and management committee member Jean-François Théodore.
‘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 and chief executive of Caisse des Dépôts, adds: ‘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.’
