TMX Group Inc., has acquired Atrium Network, which will be rebranded TMX Atrium and will operate as a unit of TMX Datalinx, TMX Group’s information services division.
While TMX continues to make acquisitions, the Maple Group, a consortium aiming to buy TMX, has extended the deadline for its CA$ 3.8 billion bid to September 30 as it awaits regulatory approval.
Both Atrium Network and TMX Datalinx provide capital markets data and connectivity software to the global financial services community. Atrium Network’s existing North American, European and trans-Atlantic connectivity platform covers the service areas that TMX Datalinx planned to build out with its TMXnet network. Earlier this year, TMX Datalinx introduced TMXnet, and in June, the TMXnet network was expanded into key US financial centers.
“Atrium Network extends our connectivity solutions into Europe and expands our US presence significantly ahead of schedule,” says Eric Sinclair, president of TMX Datalinx and group head of information services. “We are very excited about the opportunity TMX Atrium presents. Our combined network will offer 25 points of presence in 11 countries, 24 trading venues and 300 data sources with plans to expand in the future where our clients need us.”
The combined connectivity and access points offer even greater value to current TMX Datalinx clients while increasing opportunities to offer capital markets connectivity software to a much broader audience. Atrium Network clients will benefit from TMX Datalinx’s global content strategy as well as its plans to provide access to all key marketplaces. The acquisition also enables the company to add additional content from market centers in Europe and North America.
“This is an important development for our companies and for our respective clients,” says Emmanuel Carjat, CEO of Atrium Network. “The complementary capabilities offered by Atrium Network and TMX Datalinx will enable our current and future clients to benefit significantly from additional data content and from enhanced access to trading solutions. TMX Atrium will continue to provide a neutral platform to facilitate communication within the global financial markets.”
The global connectivity footprint that Atrium Network offers will also provide a new channel for order flow into Toronto Stock Exchange, TSX Venture Exchange and Montreal Exchange.
The terms of the agreement are not material. Atrium Network employs 21 people, most of whom are based in London.
(CM)