03.28.2012
By Terry Flanagan

TMX Atrium Extends Its Reach

TMX Atrium continues on its expansionary path and has added another European venue to its high-speed network.

The trading and technology firm owned by Canadian exchange TMX Group is offering its clients connectivity to the Burgundy multilateral trading facility in the Nordic region.

“We operate as a vendor neutral infrastructure specialist to ensure that our members benefit from access to venues and markets as required,” said Emmanuel Carjat, managing director of TMX Atrium.

“Customer demand for increased market coverage across the cash equity and derivative Nordic markets has resulted in a need for access through different methods which allows for early adoption of a new venue.”

Last year, TMX Atrium laid a cable between London and Stockholm for its high-speed trading clients to better access the Nordic markets. Burgundy, the Swedish exchange based in Stockholm, is the latest Nordic venue to join TMX Atrium’s trading community.

“Our relationship with TMX Atrium allows our market data and trading platform to be accessed by a wider range of participants looking to trade the Nordic markets and also gives increased choice for our users, said Erik Ellqvist, head of market operations at Burgundy. “Burgundy’s decision to use TMX Atrium is in recognition of the changing players now offering connectivity amongst the evolving Nordic markets.”

TMX Atrium, which currently operates in nine European countries as well as the U.S. and Canada, is planning to plug into the emerging markets of Brazil and Russia. Its high-frequency trading clients, which number many of Europe’s leading high-frequency firms, believe there are plenty of arbitrage opportunities beyond the sophisticated U.S. and European markets.

TMX Atrium has built a network that connects investors with key market infrastructure, such as exchanges, clearing houses, central securities depositories and data suppliers. It connects 25 trading venues–including NYSE Euronext, Nasdaq OMX, CME Group and Chi-X Europe–and 300 end data points. The low latency provider has benefited from the rise of algorithmic trading and the fragmentation of global markets by offering its clients access to many markets through its co-location services and high bandwidths.

Last August, TMX Group bought Atrium Network, a European company that offered institutions connectivity to trading platforms. TMX Atrium was founded in 2006 and has offices in London, New York and Toronto.

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