With a plan to expand internationally through a merger with the London Stock Exchange thwarted by a lack of shareholder support and a rival bid, Canada’s TMX Group – Toronto Stock Exchange, Montreal Exchange, and others – is extending its reach through the acquisition of Atrium Network. The move provides its markets with connectivity to North America, the UK, continental Europe and down to Brazil.
Atrium connected into TMX’s data centre – in Markham, Ontario, close to Toronto – in February as a continuance of its push into the Toronto market. It also connects to rivals Chi-X Canada, Pure Trading, Match Now and Omega ATS, all based in Toronto itself. A TMX spokesperson says that connectivity will continue.
With the acquisition, the new TMX Atrium network will replace the TMXNet GTA (Greater Toronto Area) network that was rolled out in March, providing 400 millisecond roundtrip access to downtown Toronto.
The TMXNet network leverages fibre from local Cogeco Data Services, though apparently Atrium also makes use of Cogeco’s network, as well as other capacity. As usual, the world of connectivity is a murky one when it comes to who owns what, and leases from who.
