Valpak has cemented its venture into online PRN trading with the confirmation that it now owns a 40% stake in electronic environmental trading floor The Environment Exchange.

Chief executive of Valpak Jonson Cox said: “We are delighted to complete this transaction. We have put together a deal which offers the maximum benefit to The Exchange without compromising the integrity of the service that it already provides.”

At a time when targets are set to increase, Valpak believes that a trading floor for PRNs will be helpful for the UK.

“We believe that there is the potential for electronic trading of PRNs and other traded compliance notes to grow in the future,” added Mr Cox.