London Stock Exchange acquires trading tech TORA for $325m
London Stock Exchange Group (LSEG) has agreed to acquire fintech TORA for $325 million.
Founded in 2004, California-based TORA offers cloud-based trading technology solutions. This includes an order and execution management system (OEMS) and portfolio management system (PMS) for customers trading equities, fixed income, FX, derivatives and digital assets.
It has established presence in Asia and North America and operations in Europe.
Following completion of the deal, which is expected in Q2 this year, TORA will become part of LSEG’s Data & Analytics division.
The deal comes hot on the heels of another acquisition by LSEG – Quantile Technologies.
Founded in 2015 and based in London, UK, Quantile provides portfolio, margin and capital optimisation and compression services. It now resides with LSEG’s Post Trade division.