Algo trading form XTX Markets is investing €1 billion in a large-scale data centre complex in Finland to support its growing use of machine learning.
XTX Markets trades over $250 billion a day, using machine learning to analyse vast amounts of data and produce price forecasts for financial instruments.
This requires huge amounts of computational resources, which will now be housed at a 478-acre site in Kajaani, central Finland. The firm has begun construction on its first data centre, with completion planned for 2026, and intends to build another four on the same site in the coming years. The first data centre has floorspace of 15,000 square meters and is comprised of three data halls totalling 22.5MW of IT power.
Joshua Leahy, CTO, XTX Markets, says: "We believe the best way to future-proof our business is to invest in our own infrastructure, which we can continue to leverage over time. Having our own data centres enable us to deploy increased computing power on our terms, cost-effectively, and in a way that keeps pace with our growing business."
On paper, the facility will produce more waste heat annually than the entire town of Kajaani uses year-round. XTX says it is exploring ways that the heat generated can be provided free of charge to the local community.
The firm also says that by building in the cooler climate of Finland, away from a city, it will not need to consume water in its core operations.
Mike Irwin, COO, XTX Markets, says: "We do not believe data centres need to be constructed in cities or in built-up areas with warmer climates. In Kajaani, we can bring real benefits in terms of energy and local employment throughout the duration of the project and beyond. We are also using the natural low air temperature for cooling purposes as opposed to taking water away from the locality, like many other data centres do."