London Stock Exchange Group PLC LSEG confirms sale of Proquote (0555Z)
September 15 2015 - 2:06AM
UK Regulatory
TIDMLSE
RNS Number : 0555Z
London Stock Exchange Group PLC
15 September 2015
15 September 2015
London Stock Exchange Group confirms sale of Proquote
London Stock Exchange Group today confirms the sale of Proquote,
a market data vendor and retail trading provider in the United
Kingdom, to IRESS, an ASX listed company that is a leading supplier
of technology for financial markets, wealth management and the
mortgage industry in the UK and Australia. The Group identified
Proquote as not central to its strategy going forward for the
enlarged Information Services Division and in IRESS identified the
right partner for the business going forward. The terms of the
transaction have not been released.
As a result of the sale, IRESS will acquire Proquote which
operates a significant trading connectivity hub, known as the RSP
(Retail Service Provider) network that offers retail trading in the
United Kingdom. Its clients include retail stockbrokers, market
makers, wealth managers, institutional buy sides, and private
investors. The acquisition also includes LSEHub, a FIX order
routing business which provides trade order connectivity between
institutional investors and brokers.
The deal is expected to be completed in Q4 2015.
- Ends -
For further information:
Media
Tom Gilbert +44 (0)20 7797 1222
newsroom@lseg.com
Investor Relations
Paul Froud +44 (0)20 7797 3322
Notes to editors:
About FIX: The Financial Information exchange (FIX) protocol is
an electronic communications protocol for real-time exchange of
information related to securities transactions and markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 15, 2015 02:06 ET (06:06 GMT)
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