NZX is selling its carbon trading register for $NZ65 million and putting the rest of its carbon credits business on ice.
The stock exchange says it's been forced to reconsider its role in carbon trading after the Government delayed introducing an emmissions trading scheme.
It's selling the TZ1 registry to Markit, a global financial information services firm, for $NZ65 million. Payment will be in Markit shares.
NZX will earn another $US17 million if the business performs to expectations.
Its shareprice rose 12% on the announcement on Thursday, to close at $5.45 a share.
NZX chief executive Mark Weldon says the market was surprised at the carbon registry's pricetag.
The TZ1 registry records carbon credits' creation, purchase and retirement.
Markit is a private company that is partly owned by many of the largest banks in the world.
