London Stock Exchange Group (LSEG) has sold off a market data vendor and real-time trading provider, Proquote, to financial technology provider IRESS.
LSEG said it had identified Proquote as not central to its current strategy for the information services division which Proquote formed part of.
Proquote runs a trading connectivity hub, Retail Service Provider, which offers retail trading to stockbrokers, market makers and private investors. IRESS will also acquire LSEHub, a FIX order routing business which connections institutional investors and brokers.
The deal is one of two confirmed today by IRESS, which is ASX listed and provides technology for the wealth management and mortgage industry in the UK and Australia.
IRESS also bought Pulse, which provides portfolio management software to asset managers.IRESS gains all 55 staff from across the two businesses.