Transpower sells derivatives trading unit d-cyphaTrade to ASX for $A55m

It had income of $10.4m in 2012, down from $12.7m a year earlier.

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.

(BusinessDesk)