Copy link
Increase text size
Decrease text size
Link copied

London Stock Exchange Group acquires TORA for $325M

The acquisition will enhance LSEG’s trading capabilities with the addition of digital assets and opens up the possibility of offering crypto and non–fungible token (NFT) trading in the future.

Photo by TheOtherKev of Pixabay

Wed, 23 Feb 2022, 11:27 am UTC

The London Stock Exchange Group (LSEG) has announced its acquisition of TORA. The latter, which is a technology provider for the trading of multiple asset classes including crypto, was acquired by LSEG at a purchase price of $325 million.

“London Stock Exchange Group (LSEG or the Group) today announces it has agreed to acquire TORA, a leading cloud-based technology provider that supports customers trading multiple asset classes across global markets,” the company announced in a blog post on February 22.

The acquisition will enhance LSEG’s trading capabilities with the addition of digital assets. It will also open the possibility for LSEG to offer crypto and non–fungible token (NFT) trading in the future, according to Coindesk.

TORA was founded in 2004 and offers trading technology solutions such as an order and execution management system (OEMS) as well as a portfolio management system (PMS) for customers trading FX, digital assets, equities, FX, fixed income, and derivatives. “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,” LSEG added.

The deal is expected to enhance LSEG’s global trading and banking solutions business. TORA has an established presence in both North America and Asia as well as operations in Europe.

“This transaction is an important extension of our global Trading business. Acquiring TORA will enable LSEG to deliver critical ‘at trade’ capabilities for the buy side, seamlessly connecting into our next generation desktop Workspace,” LSEG Group Head of Trading & Banking Solutions Dean Berry. “Combining TORA’s international footprint with LSEG’s global reach will drive further growth and we look forward to collaborating in order to continue this expansion.”

The move will also allow LSEG to diversify its offerings to its clientele. “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,” LSEG Group Head, Data & Analytics Andrea Remyn Stone said. “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. I look forward to working with the team at TORA to support customers in their trading activity and grow our businesses together.”

The acquisition will likely be finalized by the second half of 2022, subject to regulatory approvals. Once completed, TORA will become a part of LSEG’s Data and Analytics division.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

  • PUBLISH (NEWS) $0.000558 (-4.93%)
  • Bitcoin (BTC) $28,058.30 (+3.54%)
  • Ethereum (ETH) $1,689.34 (+0.85%)
  • Tether USDt (USDT) $1.00 (0.00%)
  • BNB (BNB) $216.59 (+1.37%)
  • XRP (XRP) $0.522000 (+1.17%)
  • PUBLISH (NEWS) $0.000558 (-4.93%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.