Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Technology news
  3. LSEG to buy TORA for US$325m
Technology news

LSEG to buy TORA for US$325m


22 February 2022 UK
Reporter: Bob Currie

Generic business image for news article
Image: AdobeStock/mehaniq41
London Stock Exchange Group (LSEG) will purchase financial technology provider TORA for US$325 million, according to a statement issued by LSEG this morning.

TORA specialises in order management systems, execution technology and portfolio management systems across a range of asset classes, including equities, fixed income, derivatives, foreign exchange and digital assets.

The exchange group indicates that the addition of digital assets to its trading solutions reinforces its multi-asset coverage at a time when institutional market participants are expanding their activity in crypto and digital assets.

TORA’s presence in Asia and North America, and its operational capability in Europe, will also boost the global reach of LSEG’s Trading and Banking Solutions division.

Subject to regulatory approvals, the acquisition is expected to complete in the second half of 2022, according to the parties involved. TORA will become part of LSEG’s Data and Analytics division.

LSEG global head of trading and banking solutions Dean Berry says: “This transaction is an important extension of our global trading business. Acquiring TORA will enable LSEG to deliver critical ‘at trade’ capabilities to the buy side, seamlessly connecting into our next generation desktop Workspace.”

TORA CEO Robert Dykes says: “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.”

LSEG group head of data and analytics Andrea Remyn Stone adds: “Combining TORA’s multi-asset technology and global expertise with the strength and breadth of LSEG’s Data and 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.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →