References/23 Jan 2025

Borenius advises XTX Markets on the construction of its data centre campus in Kajaani

Borenius is advising XTX Markets on the construction of its data centre campus in Kajaani, Finland. XTX Markets has recently confirmed its intention to invest over EUR 1 billion into the project over the coming years. Since 2023, Borenius has advised XTX Markets on a range of areas including the purchase of the plot in Kajaani, the establishment of a Finnish legal entity and assisting with contractor negotiations, including the recently announced €100m construction contract with YIT.

Finland’s robust digital infrastructure, political, legal, and economic stability, dependable operating conditions, cool climate, good grid infrastructure, and availability of competitively priced zero-emissions electricity make it an ideal location for the operation and placement of data centres. XTX Markets’ data centre project is unique in scale and complexity. Borenius’ strategy is to be a leading adviser for large industrial and infrastructure projects. The XTX Markets project serves as a powerful demonstration of Borenius’ multidisciplinary proficiency, with the firm’s corporate, tax, real estate, construction, energy, environmental, employment, and competition teams all playing crucial roles.

“We are grateful to Borenius for their exceptional legal guidance and local expertise throughout this project. Their support has been invaluable in helping us to establish a presence in Finland.” — Jaymes Clark, Legal Counsel, XTX Markets.
“We are delighted to support XTX Markets in their significant data centre investment into Finland. This endeavour perfectly aligns with Borenius’ capabilities and expertise in handling large-scale industrial and infrastructure projects. It has been a pleasure to work with such a professional and forward-thinking client as XTX Markets.” — Casper Herler, Partner, Borenius.

XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments across equities, fixed income, currencies, commodities and crypto. It uses those forecasts to trade on exchanges and alternative trading venues, and to offer differentiated liquidity directly to clients worldwide. The firm trades over $250bn a day across 35 countries and has over 250 employees based in London, Singapore, New York, Paris, Bristol, Mumbai, Yerevan and Kajaani.