The London Stock Exchange will acquire Tora, a provider of multi-asset trading technology, for $325 million, opening a bridge to the world of digital asset trading. Founded in 2004, TORA provides order and execution management systems and portfolio management systems for clients trading equities, fixed income, foreign exchange, derivatives and digital assets.
The stock exchange operator said adding digital assets to its trading capabilities has boosted its clout in the cryptocurrency market at a time when institutional market participants are increasing their exposure to cryptocurrencies and other digital assets.
The transaction will also expand the global footprint of LSEG’s trade and banking solutions business, with Tora’s established presence in Asia and North America, as well as a presence in Europe. After closing in the second half of 2022, Tora will become part of the exchange’s data and analytics division.