TMX Sells Atrium Network to Intercontinental Exchange

The sale will “position the company to deliver profitable long-term growth,” officials say. “The sale of the TMX Atrium business is the result of a shift in our strategic focus from infrastructure services to providing intellectual property-based analytics solutions that drive client investment decisions,” says Eric Sinclair, president of TMX Market Insights and group head of Information Services at TMX.

ICE will integrate Atrium’s fiber and wireless connectivity services with its own SFTI (Secure Financial Transaction Infrastructure) network as part of its ICE Data Services division. The exchange will offer access to 30 trading venues across 12 countries, as well as low-latency wireless connectivity between Toronto, New York and Chicago, alongside SFTI Wireless (provided by Chicago-based Anova Technologies), which connects ICE’s Mahwah datacenter with co-location facilities in Carteret and Secaucus, NJ.

TMX and ICE did not disclose terms of the deal, which they expect to close within 90 days, though ICE officials say it will have an “immaterial” impact on finances.

“With the addition of TMX Atrium, we are enhancing our service to customers by expanding the reach and access of SFTI. This includes adding the lowest-latency connection between Toronto and New York,” says Lynn Martin, president and chief operating officer of ICE Data Services. “This will extend ICE Data Services’ solutions, which include networking, co-location, real-time feeds, and desktop data tools for global equities, derivatives and fixed income markets.”