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.
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For further information:
Media
Tom Gilbert +44 (0)20 7797 1222
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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.
