The London Stock Exchange Group (LSEG) reportedly disclosed details related to the purchase of the cloud technology provider Tora from America, via a $325 million agreement. 

Specifically, the deal is reportedly going to be finalized in the latter half of 2022. 

Tora reportedly provides software trading solutions for customers doing business in the fields of stocks, forex, fixed income securities, derivatives and cryptocurrencies. 

“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 crypto and other digital assets.” LSEG offered further justification for the reason fueling its decision of purchase. 

Tora’s crypto trading solution reportedly goes by the name Caspian. Per its whitepaper, Caspian “aggregates prices, bid/ask information, orders, positions, accounts and executions from multiple crypto exchanges and other sources, presenting the information on a single platform.”

The solution will reportedly then make it possible for users to send order data to crypto exchanges in an individual manner, or to a variety of exchanges simultaneously, via the assistance of its Smart Order Router technology.

The software, itself, reportedly caters primarily to institutional clients, rolling out and offers order execution, portfolio management, compliance, risk management and reporting tools.

Furthermore, the company reportedly finalized a Caspian (CSP) token sale in October, which secured $19.5 million. CSP is developed upon the Ethereum (ETH) blockchain, and can be staked to earn discounts on the Caspian platform.

“This transaction is an important extension of our global trading business. Acquiring Tora will enable LSEG to deliver critical “at trade” capabilities for the buy-side.” Head of trading & banking solutions at LSEG Dean Berry further remarked.