XTX Markets Commits Over €1 Billion to Develop a Data Centre Complex in Finland
Kajaani, Finland
XTX Markets, a London-based algorithmic trading firm, has announced an ambitious €1 billion investment to build a world-class data centre complex in Kajaani, Finland. The project aims to enhance the firm’s high-frequency trading infrastructure by providing the extensive computational power required to analyze and forecast financial market trends globally.
Data Centre Development Plans
Construction has already commenced on the first phase of the project, a 15,000-square-meter facility with three data halls offering a total of 22.5 megawatts (MW) of IT power. This phase will also include a mechanical plant area, warehouse, and office space for 50 employees. The facility is scheduled to become operational by 2026. XTX intends to build four additional data centres on its expansive 478-acre site over the coming years, solidifying Kajaani’s role as a critical hub for the company’s operations.
Joshua Leahy, Chief Technology Officer at XTX Markets, explained the strategic importance of the project:
“We believe the best way to future-proof our business is to invest in our own infrastructure. Owning our data centres allows 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. By building ahead of demand, we are establishing a solid backbone for the future growth of the company.”
Harnessing Sustainability for Long-Term Impact
The project prioritizes sustainability, with XTX Markets exploring ways to utilize the waste heat generated by the data centre to benefit the local community. According to initial estimates, the facility will produce more excess heat annually than Kajaani uses in an entire year. XTX is collaborating with local stakeholders to devise innovative ways to distribute this surplus heat, fostering a mutually beneficial relationship with the town.
Additionally, the data centre will not rely on water-based cooling systems, unlike many facilities in warmer climates. Instead, the naturally low air temperatures in Kajaani will be leveraged for efficient, eco-friendly cooling.
Mike Irwin, Chief Operating Officer at XTX Markets, highlighted the importance of the location:
“We do not believe data centres need to be built in cities or regions with warm climates, where resources like water are scarce. In Kajaani, we can bring tangible benefits to the local economy, both in terms of energy efficiency and employment. The natural environment offers us optimal cooling conditions without depleting local water resources. Supporting the community and providing sustainable solutions were key factors in choosing Kajaani for this project.”
Boosting Local Economy and Employment
XTX Markets has made a strong commitment to supporting the local economy by partnering exclusively with Finnish contractors. Sundström AB, a local firm, has been engaged for groundwork, while Finnish construction giant YIT will handle the primary construction of the first data centre. This collaboration is expected to create hundreds of jobs during the construction and operational phases of the project.
Jukka-Pekka Partanen, Head of XTX Markets Finland, emphasized the importance of local involvement:
“Data centre owners often hire large international contractors for these projects, but XTX Markets felt strongly about employing local firms. We hope that other companies investing in Kajaani’s growing data centre ecosystem will follow our example. By engaging local expertise, we ensure long-term economic benefits for the community.”
Government Endorsement
The Finnish government has welcomed XTX Markets’ investment with enthusiasm. Wille Rydman, Finland’s Minister of Economic Affairs, praised the project’s swift progress and its potential to strengthen the national economy:
“We are delighted that XTX Markets has chosen Finland for this ambitious project. The company’s rapid implementation and planned expansion are remarkable achievements. This investment reflects growing confidence in Finland’s economic policies, which are driving foreign investment, job creation, and technological advancement. Kajaani now hosts a thriving data centre ecosystem, and XTX Markets is a key contributor to this development.”
Strategic Partnerships
To ensure the project’s successful execution, XTX Markets has enlisted several prominent Finnish advisory firms. Granlund Oy is providing design and project management services, A-Insinöörit Rakennuttaminen Oy is responsible for construction management, and Borenius Attorneys Ltd serves as legal counsel for the company.
About XTX Markets
Founded in 2015, XTX Markets is a leading algorithmic trading firm that leverages machine learning to analyze and trade financial instruments across global markets. The firm trades over $250 billion daily across 35 countries and continuously invests in cutting-edge infrastructure to support its operations.
With this landmark project in Kajaani, XTX Markets reaffirms its dedication to sustainable growth, technological innovation, and community development—positioning itself as a pioneer in the future of algorithmic trading and data management.