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London Stock Exchange Group Buys Fintech Firm TORA for $325M
The acquisition opens the door to the possibility of LSEG offering crypto or non-fungible token (NFT) trading in the future.
Updated May 11, 2023, 5:57 p.m. Published Feb 22, 2022, 12:13 p.m.
The London Stock Exchange Group (LSEG) has bought TORA, a provider of technology for the trading of multiple asset classes including crypto, for $325 million.
- The acquisition will add digital assets to LSEG's trading capabilities, the group announced on Tuesday.
- The deal opens the door for LSEG to offer crypto or non-fungible token (NFT) trading in the future. NFTs are digital assets on a blockchain that represent ownership of virtual or physical items.
- LSEG didn't respond to request for comment at press time.
- The acquisition is expected to close in the second half of this year, subject to regulatory approval.
- As the parent company of the London Stock Exchange, LSEG is a provider of global financial markets data and infrastructure.
- TORA provides systems for order and execution management and portfolio management for the trading of equities, fixed income and derivatives as well as digital assets.
Read more: A National Stock Exchange That Supports NFTs? Welcome to Switzerland
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