Atlanta-based U.S. exchange giant Intercontinental Exchange (ICE) has closed its acquisition of Toronto-based TMX Group Ltd.’s information services business, TMX Atrium.
TMX Atrium’s low-latency wireless service, which provides access to markets and market data in 12 countries and across more than 30 major trading venues, will be offered alongside ICE’s SFTI wireless service, ICE says in a news release.
The deal was announced in February and is not material to ICE’s bottom line. Terms of the all-cash deal were not announced. At the time, TMX Group said it sold the unit as part of an ongoing strategic initiative to streamline its organizational structure.
“We’re excited about the addition of Atrium to the portfolio of services offered through ICE Data Services,” says Lynn Martin, president and chief operating officer of ICE’s data services division. “As part of SFTI, Atrium will expand our global offering and will add the lowest-latency connection between Toronto and New York, a key hub for North American market participants.”