LSEG to Acquire Financial Tech Provider TORA for $325 Million

London Stock Exchange Group (LON: LSEG) announced on Tuesday that it has agreed to acquire TORA, a cloud-based technology provider to the trading companies, for a total consideration of $325 million.

The acquisition came when there is a rise in institutional demand for exposure to crypto and other digital assets. In addition, LSEG is expecting to enhance its footprint in the trading and banking solution business.

“Combining TORA’s multi-asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term technology and global expertise with the strength and breadth of LSEG’s Data & Analytics division will create a compelling customer proposition,” said Andrea Remyn Stone, LSEG’s Group Head of Data and Analytics.

“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.”

Global Presence

TORA was established in 2004. Its offerings include an order and execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term management system (OEMS) and portfolio management system (PMS) for customers trading with multi-assets. Additionally, LSEG will benefit from TORA’s presence in Asia and North America and 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,” said Dean Berry, the Group Head of Trading & Banking Solutions at LSEG.

“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.”

Last year, LSEG closed the massive acquisition of market data operator, Refinitiv, but it had to sell its stakes in Borsa Italiana for regulatory clearance of the deal. Furthermore, the London-based company agreed to acquire Quantile, a provider of portfolio and margin services in the financial industry.