Transpower sells derivatives trading unit d-cyphaTrade to ASX for $A55m
State-owned electricity grid company Transpower has sold its d-cyphaTrade unit to Australian stock market operator ASX for $A55 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," chief executive Patrick Strange says.
"It is now time for the ASX to lead d-cyphaTrade through the next stage of its development."
ASX took ownership of the business effective today.