Deals
NYSE Joins With APX for Environmental-Trade Venture
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NYSE Euronext, the biggest operator of U.S. stock exchanges, formed a joint venture with APX Inc. to expand its trading volume in electricity, renewable energy and carbon dioxide allowances.
The New York-based company will be majority owner of a new entity called NYSE Blue after contributing its 60 percent stake in BlueNext, NYSE said today in an e-mailed statement. Paris- based BlueNext, the largest exchange for spot trading of carbon dioxide allowances, is trying to win back share lost to rivals including Intercontinental Exchange Inc., which bought the London-based European Climate Exchange for 395 million pounds ($606 million) in July.