London Stock Exchange Group (LSEG) today revealed that it has agreed to acquire TORA for $325 million. The transaction is expected to close in the second half of 2022.
Founded in 2004, the trading technology solutions such as order and execution management system (OEMS) and portfolio management system (PMS) for customers trading equities, fixed income, FX, derivatives and digital assets.
LSEG’s trading capabilities will be strengthened with the addition of digital assets as institutional market participants are increasing exposure to crypto and other digital assets.
TORA’s established presence in Asia and North America and operations in Europe will also further add to the global footprint of LSEG’s Trading & Banking Solutions business. The deal will allow the Group’s customers to benefit from a differentiated trading solution that combines the multi-asset class capabilities of TORA’s software with the LSEG’s data and analytics services.
Upon completion of the transaction is, TORA will become part of LSEG’s Data & Analytics division.
Andrea Remyn Stone, Group Head, Data & Analytics LSEG, said:
Andrea Remyn Stone Source: LinkedIn
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. I look forward to working with the team at TORA to support customers in their trading activity and grow our businesses together.
Robert Dykes, Chief Executive Officer, TORA, commented:
I’m delighted that TORA will become part of LSEG. We see this combination as an incredible opportunity to create additional value for clients. 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.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.