BlueNext
From MarketsWiki
| BlueNext | |
| Headquarters | Paris |
|---|---|
| Products | Carbon exchange |
| Web site | www.bluenext.eu/ |
BlueNext, formerly PowerNext, is a European carbon exchange that offers spot and futures contracts on European Union Allowances, EUAs and Certified Emission Reductions (CERs). The exchanges is currently known for its spot trading of carbon.
Strategy
BlueNext is pursuing a three-pronged strategy:
- Launch a new set of products. In 2008, alongside BlueNext Spot EUA 08-12, add BlueNext Futures EUA and BlueNext Futures CER, two futures contracts for allowances and credits. BlueNext plans to launch BlueNext Spot CER, a contract on Kyoto credits (depending on the possibility of linking Europe to the International Transaction Log, which connects all national registries). It also intends to develop a range of environmental products on other underlyings, such as weather derivatives.
- Extend the business to Asia and North America. NYSE Euronext’s international network of marketplaces and members will give BlueNext a decisive advantage in setting up a global market to address the planet-wide issues arising from the Kyoto Protocol and regulatory developments in North America and Asia.
- Reach a global clientele in the energy and financial communities. [1]
History
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BlueNext was formed in December 2007 when NYSE Euronext and Caisse des Dépôts purchased the carbon market from Powernext. Powernext still operates its electricity market separately. BlueNext owns 60% and Caisse des Dépôts the other 40%. [2]. In October 2008, BluNext CEO Andrei Marcu, left the company to pursue other opportunities [3].
Products and Services
The exchange offers spot EUAs, CERs and launched EUAs phase 2 EU ETS on February 29, 2008. BlueNext launched EUA futures on April 21 and plans to launch CER futures as well. [4]
The exchange competes with several other carbon markets, primarily European Climate Exchange, Nord Pool, European Energy Exchange and Green Exchange.
Key People
Philippe Chauvancy, Sales Director
References
- ↑ Bluenext Strategy Plans. BlueNext. Retrieved on July 31, 2008.
- ↑ NYSE Euronext and Caisse des Dépots launch BLUENEXT. BlueNext. Retrieved on January 22, 2008.
- ↑ CEO of French CO2 exchange BlueNext leaves company. Reuters. Retrieved on October 1, 2008.
- ↑ BlueNext Futures EUA launch on 21 April. BlueNext. Retrieved on April 18, 2008.
