London Stock Exchange acquired crypto trading software developer
With the takeover, the exchange plans to expand the geography of its activities and opportunities for investors
23.02.2022 - 10:00
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What’s new? The official Twitter account of the London Stock Exchange Group (LSEG) has published news that it has reached an agreement to buy TORA. The main purpose of the deal is to introduce cloud-based technology for cryptocurrency trading and to use TORA’s solutions in the development of the exchange’s own services.
.@LSEGplc to acquire @ToraTrading a leading cloud-based provider of trading technology solutions. Read our press release here: https://t.co/ppAWulmNLZ pic.twitter.com/ZYtn321d92— LSEG (London Stock Exchange Group) (@LSEGplc) February 22, 2022
“It will enable LSEG’s customers to benefit from a differentiated trading solution that combines the multi-asset class capabilities of TORA’s software with the group’s rich data and analytics services,” the exchange operator’s representatives commented on the deal.
What else is known about the deal? The total purchase price will be $325 million. After regulatory approval, LSEG will be able to strengthen the stock exchange operator’s share of the cryptocurrency market and meet the increased demand for this asset type from institutional investors. In addition, LSEG plans to expand into Europe, North America, and Asia.
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