About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

LSEG Adds PMS, OMS, EMS via $325 Million Tora Acquisition

Subscribe to our newsletter

Continuing on the acquisition trail following its $27 billion purchase of Refinitiv, London Stock Exchange Group (LSEG) has agreed to acquire PMS, OMS and EMS vendor Tora for $325 million, in an all-cash transaction.

Tora says the deal will enable Tora to expand and grow its clientele while investing in global infrastructure, product development and innovation. As part of LSEG, Tora’s clients will gain access to a wider range of market data, benchmarking indices, advanced corporate actions and a much larger yield book.

Tora provides cloud-based, cross-asset, front-to-back office technology that supports buy-side and sell-side customers trading across global equities, fixed income, FX, derivatives and digital assets. From LSEG’s perspective, Tora will help to enhance the group’s offerings in Asia (particularly Japan), North America and Europe, and allow it to deliver best in class, multi-asset front to back trading technologies. It will also strengthen LSEG’s presence in the digital asset space, as demand grows amongst institutional investors.

Tora CEO Robert Dykes says the company “has grown entirely organically since we formed in 2004. We are proud that all of our products have been built independently in-house since day one. However, change is needed to evolve, … as we look to grow our global business.” Both companies say they are focused on building a state-of-the-art financial infrastructure that operates across the entire investment lifecycle as an open ecosystem.

“This transaction is an important extension of our global Trading business,” says Dean Berry, Group Head of Trading & Banking Solutions at LSEG. “Acquiring Tora will enable LSEG to deliver critical ‘at-trade’ capabilities for the buy side, seamlessly connecting into our next generation desktop Workspace. 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.”

Upon completion of the transaction, Tora will sit within LSEG’s Data & Analytics division as part of its Trading & Banking Solutions business. The deal is expected to close in the second half of 2022, subject to regulatory approvals.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Leveraging cloud as part of your colocation or proximity hosting strategy

As firms assess which elements of the trading workflow can be profitably migrated to cloud environments, ensuring compatibility with colocation and proximity hosting facilities becomes paramount. Practitioners need to take into account data access and security, messaging latency and regulatory considerations around operational resilience and physical location of client data. This webinar will discuss best...

BLOG

MDXT Acquires No-Code SaaS Workflow Solution Provider Iceflow

MDX Technology (MDXT), a provider of data distribution and collaboration technology, has acquired Iceflow Technologies, the no-code SaaS platform vendor founded by Graham Denyer, architect of IHS Markit’s original EDM solution, Cadis Software. Terms weren’t disclosed. MDXT and Iceflow now plan to become fully integrated, giving MDXT customers the ability to utilise the Iceflow no-code...

EVENT

ESG Data & Tech Summit

The inaugural ESG Data & Tech Summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Trading Regulations Handbook 2022

Welcome to the third edition of A-Team Group’s Trading Regulations Handbook, a publication designed to help you gain a full understanding of regulations that have an impact on your trading operations, data and technology. The handbook provides details of each regulation and its requirements, as well as ‘at-a-glance’ summaries, regulatory timelines and compliance deadlines, and...