The London Stock Exchange Group (LSEG) announced that it has agreed to acquire TORA, a US-headquartered cloud-based technology provider that supports customers trading multiple asset classes across global markets, for US$325 million.

The acquisition is expected to close later this year.

Founded in 2004, TORA offers order and execution management system (OEMS) and portfolio management system (PMS) for customers trading equities, fixed income, FX, derivatives as well as digital assets.

The addition of digital assets to LSEG’s trading capabilities strengthens its presence in this rapidly expanding asset class, at a time when institutional market participants are increasing exposure to crypto and other digital assets.

The transaction will further enhance the global footprint of LSEG’s Trading & Banking Solutions business, with TORA’s established presence in Asia and North America and operations in Europe.

It will enable LSEG’s customers to benefit from a differentiated trading solution that combines the multi-asset class capabilities of TORA’s software with the group’s rich data and analytics services.

Following the completion of this deal, TORA will be a part of LSEG’s Data & Analytics division.

Andrea Remyn Stone

Andrea Remyn Stone, Group Head, Data & Analytics LSEG said,

“Combining TORA’s multi-asset technology and global expertise with the strength and breadth of LSEG’s Data & Analytics Division will create a compelling customer proposition.

This acquisition is a great example of LSEG’s strategy to provide customers with a global, multi-asset class financial infrastructure that operates across the capital markets and investment lifecycle as an open ecosystem.”

Robert Dykes

Robert Dykes, Chief Executive Officer, TORA said,

“Bringing together TORA’s compelling trading solution with LSEG’s wealth of data has the potential to create a powerful toolkit for our customers, enabling them to trade more efficiently.

I’m confident that by collaborating with the wider Data & Analytics team, we will innovate further and continue to deliver best-in-class solutions for our customers.”

Featured image: Edited from Unsplash 

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