TMX Group to acquire the microwave business of Strike Technologies Services
TORONTO, Aug. 14, 2014 /CNW/ - TMX Atrium, TMX Group's global marketplace infrastructure provider, today announced that it will be launching a new cross-border marketplace connectivity network that uses industry best-practice microwave technology. The microwave network services will be available to all market participants.
"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, TMX Datalinx. "The TMX Atrium solution will benefit clients interested in Canada-US cross-border market connectivity."
TMX Atrium is advancing its connectivity strategy through the acquisition of the microwave network business of New York-based Strike Technologies Services, LLC, a wholly-owned subsidiary of Global Trading Systems.
"This transaction is a great step forward for all investors, and we're pleased to remain an on-going customer of TMX Atrium," said Ari Rubenstein, co-founder and Chief Executive Officer of Global Trading Systems.
The acquisition includes an existing microwave link between key Chicago and New Jersey data centres. After the transaction closes, TMX Atrium intends to immediately build a microwave route from New Jersey into TMX Group's primary data centre in the Greater Toronto Area, which houses Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha and Montreal Exchange. TMX Atrium currently operates fibre-based connectivity along the same corridors.
TMX Group expects to complete the Strike acquisition during the fourth quarter of 2014.
About TMX Group (TSX:X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, TMX Atrium, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
SOURCE: TSX Group Inc.
For further information: Carolyn Quick, Vice President, Corporate Communications & Public Affairs, TMX Group, 416-947-4597, [email protected]