Transpower sells derivatives trading unit d-cyphaTrade to ASX for A$55 mln

Friday 31st May 2013

Transpower, the state-owned electricity grid company, has sold its d-cyphaTrade unit to Australian stock market operator ASX for A$55 million.

Transpower set up d-cyphaTrade in 2002. It promotes Australian exchange-traded electricity futures and then sells related training and information products. It had income of $10.4 million in 2012, down from $12.7 million a year earlier.

"d-cyphaTrade and its future development opportunities are not core business for Transpower," said chief executive Patrick Strange. "It is now time for the ASX to lead d-cyphaTrade through the next stage of its development."

ASX has taken over ownership of the business effective today.

BusinessDesk.co.nz

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