XTX Markets is set to invest more than €1 billion to develop a data centre complex in Kajaani, Finland.
“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,” said Joshua Leahy, chief technology officer at XTX Markets.
Construction on the first data centre has begun, with completion planned for 2026. In the coming years, the firm plans to build four additional data centres on the same site.
The first data centre has floorspace of 15,000sq metres and is comprised of three data halls totalling 22.5MW of IT power. The centre also includes a mechanical plant area, a warehouse and a 50-person office space.
XTX Markets uses machine learning technology to analyse data and produce price forecasts for financial instruments globally.
These deep learning models require considerable computational resources, which will be housed in the firm’s own large-scale data centre for the first time.
Leahy added: “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. Our need for compute has outgrown available leasing options. We are building ahead of our needs to establish a backbone for future growth of the business.”