NSX Acquires Waterexchange for First Australian Water-Based Trading

In mid-July, the Waterexchange Ltd was acquired by the operator of the Newcastle and Bendigo stock exchanges, NSX Ltd, for $10.75 million. Almost 14 years old, the Waterexchange has about 20,000 Australia clients, usually farmers, who use the exchange to physically trade water between one another. This move establishes Australia's first water-based derivative products trade. The Waterexchange and NSX also announced plans to soon launch a carbon emissions trading platform. Trading in water-based futures and derivatives trading will begin before the end of the year. NSX, with approximately 110 securities and total value of $1 billion, recently signed up two companies to a new sustainability board which will be officially launched on September 14, 2007 by former US vice-president Al Gore in Sydney.

– View The Sidney Morning Herald article
– View The Age article