LSEG agrees to acquire MayStreet to enhance Data & Analytics division
“Adding MayStreet’s low latency domain expertise to our existing capabilities enables us to bring increased value to customers’ electronic trading workflows across a number of use cases, including quantitative modelling, research and programmatic trading.”
London Stock Exchange Group has agreed to acquire market data solutions provider MayStreet, with whom it has an existing commercial partnership, to support LSEG’s Real-Time Direct feed offering.
Following the completion, expected to close in H1 2022, the acquired company will be part of the Enterprise Data Solutions business within LSEG’s Data & Analytics division.
MayStreet was founded in 2012 and it provides low latency technology and market data to over 65 industry participants, including banks, asset managers and hedge funds. The firm also provides market data to the SEC’s Market Information Data Analytics System (MIDAS) since 2019.
The deal significantly expands LSEG’s capabilities across the latency spectrum through a global low latency network of over 300 cross asset, exchange and trading venue feeds.
Front-office customers, who use these solutions to support research and strategy development and to power electronic trading applications, will benefit the most from the new real-time feeds and historical market data value proposition.
Enhancing quantitative modelling, research and programmatic trading
Andrea Remyn Stone, Group Head, Data & Analytics, LSEG, said: “Combining LSEG’s strong track record as a leader in Enterprise Data with MayStreet’s expertise in providing low latency data and innovative cloud technology represents an exciting customer proposition. We now have a fantastic opportunity to significantly enhance the breadth of our low latency data offering, ensuring we deliver outstanding high-quality data in a flexible manner across the latency spectrum to our global customer base.”
Stuart Brown, Group Head of Enterprise Data Solutions, LSEG, said: “This acquisition is a significant milestone for our Enterprise Data Solutions business, as we look to further expand our leading real-time data offering. Adding MayStreet’s low latency domain expertise to our existing capabilities enables us to bring increased value to customers’ electronic trading workflows across a number of use cases, including quantitative modelling, research and programmatic trading. I look forward to working with Patrick, Mike and the MayStreet team to continue to innovate and deliver value to our customers.”
Patrick Flannery, Chief Executive Officer and Co-Founder, MayStreet said: “We are delighted to be joining LSEG at an exciting time for the market. The demand for high quality, low latency data has never been greater. LSEG’s global scale and established position will enable us to better serve customers and offer innovative solutions to support trading and investment decisions.”
Michael Lehr, Chief Technology Officer and Co-Founder, MayStreet, said: “Our high-quality data and powerful low-latency software combined with LSEG’s industry standard platform and strong operational capabilities will allow us to provide market-leading services to the most sophisticated data users”