The online trading firm XTX Markets plans to build a
substantial data center in Finland. This decision marks a significant departure
from the prevailing trend among financial institutions, which typically opt to
outsource their IT needs to major technology firms in Silicon Valley.
According to the Financial Times, The London-based
market maker will construct a data center with a 250-megawatt capacity in
Finland’s Kajaani district. The first phase of this facility will be equipped
with computing capabilities totaling 22.5MW.
XTX’s decision to establish its data center in the
Nordic country is due to the affordable electricity and the cool climatic
conditions. The Nordic region has emerged as a favorable destination for
hosting data because there is less need for extensive cooling systems.
XTX’s decision to build its own data center reflects
the firm’s decision to maintain autonomy over its technological infrastructure.
This approach contrasts with competitors like Citadel Securities, which have
opted to use the cloud services of companies like Google for data storage and
algorithm testing.
XTX Markets relies heavily on processing power to
execute its algorithmic trading strategies. The company reportedly uses 25,000
graphics processing units (GPUs) computational resources to drive its
operations.
Expect ongoing updates as this story evolves.
The online trading firm XTX Markets plans to build a
substantial data center in Finland. This decision marks a significant departure
from the prevailing trend among financial institutions, which typically opt to
outsource their IT needs to major technology firms in Silicon Valley.
According to the Financial Times, The London-based
market maker will construct a data center with a 250-megawatt capacity in
Finland’s Kajaani district. The first phase of this facility will be equipped
with computing capabilities totaling 22.5MW.
XTX’s decision to establish its data center in the
Nordic country is due to the affordable electricity and the cool climatic
conditions. The Nordic region has emerged as a favorable destination for
hosting data because there is less need for extensive cooling systems.
XTX’s decision to build its own data center reflects
the firm’s decision to maintain autonomy over its technological infrastructure.
This approach contrasts with competitors like Citadel Securities, which have
opted to use the cloud services of companies like Google for data storage and
algorithm testing.
XTX Markets relies heavily on processing power to
execute its algorithmic trading strategies. The company reportedly uses 25,000
graphics processing units (GPUs) computational resources to drive its
operations.
Expect ongoing updates as this story evolves.
