TMX Group Inc (X.TO), the operator of the Toronto Stock Exchange, said on Wednesday that it had bought data connectivity provider Atrium Network in a deal that will allow it to fast-track plans to expand into new service areas. The deal came as Maple Group, a consortium of Canadian banks and pension funds bidding for TMX, extended the deadline for its C$3.8 billion ($3.96 billion) offer to Sept. 30 as it continues to seek regulatory approvals. TMX said the purchase of Atrium, which will be renamed Atrium TMX, will allow TMX to add content from market centers in Europe and North America. It will expand its data connectivity to 25 venues in 11 countries, including 24 trading venues and 300 sources of data. TMX said there will be room for expansion. TMX did not disclose the value of the deal, saying the terms were "not material".
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X fell by 2.35% or $-0.8875/share to $36.91. In the past year, the shares have traded as low as $37.80 and as high as $64.03. On average, 7851440 shares of X exchange hands on a given day and today's volume is recorded at 1688279.
