On Tuesday, London Stock Exchange Group (LON:), or LSEG, announced the acquisition of US cloud technology provider Tora for $325 million; the deal is expected to close in the second half of the year. Tora offers software trading solutions for clients exposed to equities, currencies, fixed income securities, derivatives and cryptocurrencies. In justifying the acquisition, LSEG specifically highlighted the importance of the latter:
“The addition of digital assets to LSEG’s trading capabilities strengthens its presence in this rapidly expanding asset class at a time when institutional market participants are increasing exposure to cryptocurrencies and other digital assets.”
Tora’s cryptocurrency trading solution is called Caspian. According to its whitepapper, Caspian “aggregates prices, bid and offer information, orders, positions, accounts, and executions from multiple cryptocurrency exchanges and other sources, presenting the information on a single platform.” It then allows users to send order information to cryptocurrency exchanges individually, or to several at once, using its Smart Order Router technology. The software itself is aimed at institutional clients and offers order execution, portfolio management, compliance, risk management and reporting tools.
- This is how the Thai Stock Exchange plans to connect cryptocurrencies with its digital asset platform
Additionally, the company completed a Caspian (CSP) token sale in October that raised $19.5 million. CSP is based on (ETH) and can be staked for discounts on the Caspian platform.
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