It might be a fairytale in New York with London Stock Exchange Group (LSEG) planning to acquire market data solutions provider MayStreet.
There are no financial details. Founded in 2012, MayStreet provides low latency technology and market data to over 65 industry participants, including banks, asset managers and hedge funds.
New York-based MayStreet has an existing commercial partnership with LSEG to support its Real-Time Direct feed offering. It has also served as a market data provider to the SEC’s Market Information Data Analytics System (MIDAS) since 2019.
Stuart Brown, Group Head of Enterprise Data Solutions, LSEG, states: “This acquisition is a significant milestone for our Enterprise Data Solutions business, as we look to further expand our leading real-time data offering.”
LSEG says the acquisition expands its capabilities across the latency spectrum through a global low latency network of over 300 cross asset, exchange and trading venue feeds.
It seems jobs are safe as Brown adds: “I look forward to working with Patrick [Flannery, CEO and Co-Founder], Mike [Lehr, CTO and Co-Founder] and the MayStreet team.”
The tech firm has 58 employees listed on LinkedIn.
In terms of use cases stemming from the acquisition, these include quantitative modelling, research and programmatic trading.
Following completion, MayStreet will be part of the Enterprise Data Solutions business within LSEG’s Data & Analytics division. The acquisition is expected to close in H1 2022.
LSEG has been active with acquisitions and other matters.
Last month, it said it will acquire identity verification data provider Global Data Consortium (GDC) for an undisclosed amount.
Prior to that, it made an undisclosed investment and “long-term” partnership with Floww, a platform that connects investors with private companies.
In February, LSEG said it will acquire cloud-based technology provider TORA for $325 million (£239 million) to boost its buy side and digital asset interests.
In December 2021, LSEG announced it will buy Quantile Group, a provider of portfolio optimisation services for financial markets, for £274 million. However, the UK’s Competition and Markets Authority is investigating the acquisition.
LSEG doesn’t just buy things. It can sell them as well.
In March, Clearlake Capital and Motive Partners partnered to acquire the BETA+ platform technology from LSEG for an undisclosed sum.
