TMX Group Goes It Alone
Canadian exchange operator TMX Group this week announced that it had acquired low-latency network provider Atrium Network for an undisclosed sum.
After the Maple Group Acquisition Corp. successfully upset the planned merger between the TMX Group and the LSE Group, which runs the London Stock Exchange (LSE) and other exchanges, it looks like TMX Group is forging ahead and going it alone.
Through this acquisition, the exchange operator has expanded it points-of-presence (PoPs) in the US markets, but more importantly, in Europe. The new network footprint might not be as large as the various networks operated by the likes of NYSE Euronext and the Chicago Mercantile Exchange (CME), but firms need to start somewhere.
The TMX will graft the new business unit, dubbed TMX Atrium, onto its existing DataLinx market data group, which already has connections to the major US financial markets.
Speaking of making new connections, Sell-Side Technology looks to connect to our readers via a new Financial Tech Talk audio commentary segment that we're launching this week.
In the first episode we speak with industry veteran Hirander Misra, formerly of Algo Technologies and Chi-X Europe, about the impact that the review of the Markets in Financial Instruments Directive (Mifid II) will have on high-frequency trading in Europe. Other future topics will include improving user experience (UX) and the current state of middleware in the industry, as well as many, many more.
Please tune in and let us know what you think.
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