London Stock Exchange Group (LSEG) has signed an agreement to acquire MayStreet, a US-based market data solutions provider, for an undisclosed amount.
Founded in 2012, MayStreet provides high-quality global low latency technology and market data to over 65 industry participants, including banks, asset managers and hedge funds.
The firm already t has an existing commercial partnership with LSEG to support the exchange group’s real-time direct feed offering.
It has also served as a market data provider to the US Securities and Exchange Commission’s Market Information Data Analytics System (MIDAS) since 2019.
LSEG notes that the acquisition significantly enhances its enterprise data solutions business, expanding its capabilities across the latency spectrum through a global low latency network of over 300 cross asset, exchange and trading venue feeds.
In addition, the purchase broadens and complements LSEG’s real-time feeds and historical market data value proposition, particularly for front office customers, who use these solutions to support research and strategy development and to power electronic trading applications.
Upon completion, MayStreet will be part of the enterprise data solutions business within LSEG’s data & analytics division. The acquisition is expected to close in the first half of this year.
“Combining LSEG’s strong track record as a leader in enterprise data with MayStreet’s expertise in providing low latency data and innovative cloud technology represents an exciting customer proposition,” said Andrea Remyn Stone, group head, data & analytics at LSEG.
Stuart Brown, group head of enterprise data solutions, LSEG, added, “This acquisition is a significant milestone for our enterprise data solutions business, as we look to further expand our leading real-time data offering.
Adding MayStreet’s low latency domain expertise to our existing capabilities enables us to bring increased value to customers’ electronic trading workflows across a number of use cases, including quantitative modelling, research and programmatic trading.”
Patrick Flannery, chief executive officer and co-founder, MayStreet said, ”The demand for high quality, low latency data has never been greater. LSEG’s global scale and established position will enable us to better serve customers and offer innovative solutions to support trading and investment decisions.”
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