LSEG agrees to acquire TORA for $325 million

Rick Steves

LSEG clients will gain access to TORA’s order and execution management system (OEMS) and portfolio management system (PMS) for customers trading equities, fixed income, FX, derivatives and digital assets.

London Stock Exchange Group has agreed to acquire TORA to 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.

TORA supports customers trading multiple asset classes across global markets with a number of solutions including an order and execution management system (OEMS) and portfolio management system (PMS) for customers trading equities, fixed income, FX, derivatives and digital assets.

The addition of digital assets to LSEG’s trading capabilities strengthens its offering as multi asset trading now includes the emerging asset class.

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

LSEG has agreed to pay $325 million for TORA, which be part of LSEG’s Data & Analytics division following completion of the transaction. The deal is expected to close in the second half of 2022, subject to regulatory approvals.

Critical “at trade” capabilities for the buy side

Dean Berry, Group Head of Trading & Banking Solutions, LSEG, said: “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. 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.”

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. 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, said: “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.”

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