Cross-border trading is set to get even faster, with news that the TMX Group Ltd. (TSX:X) is acquiring a microwave technology business and will be building a new cross-border connection utilizing that technology.
TMX Group’s global marketplace infrastructure provider, TMX Atrium, announced today that it’s buying the microwave network business of New York-based Strike Technologies Services, LLC; and, that it will be launching a new cross-border marketplace connectivity network. No price was disclosed on the deal.
The acquisition includes an existing microwave link between Chicago and New Jersey data centres. After the transaction closes, which is expected to be in the fourth quarter, TMX Atrium intends to immediately build a microwave route from New Jersey into its primary data centre the Toronto area. It currently operates fibre-based connectivity along the same corridors. The microwave network services will be available to all market participants, it says.
“We are excited to be offering a broadly-available commercial service that will provide a fast, reliable and cost-effective microwave solution for all market participants,” said Eric Sinclair, president of TMX Datalinx. “The TMX Atrium solution will benefit clients interested in Canada-US cross-border market connectivity.”