London Stock Exchange Plans to Acquire Crypto Trading Solution Provider TORA
The London Stock Exchange Group (LSEG), the operator of the London Stock Exchange, has closed an agreement to acquire cloud trading provider TORA.
The deal will amount to $325 million. The parties plan to close it in the second half of 2022, however, it still must be approved by the regulators.
TORA, which was founded in 2004, offers an order and execution management system and a portfolio manager for clients trading in equities, fixed income, currencies, derivatives and digital assets.
According to LSEG, the deal will strengthen the company’s presence in a fast-growing segment against the backdrop of increasing interest from institutional investors in cryptocurrencies.
The purchase will also allow LSEG to expand its business geographically with TORA’s operations in Asia, North America and Europe.