London Stock Exchange Group (LSEG) announced that it has signed an agreement to acquire MayStreet, a market data solutions provider. 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. Financial terms are not disclosed.
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. MayStreet has an existing commercial partnership with LSEG to support LSEG’s 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.
The acquisition significantly enhances LSEG’s Enterprise Data Solutions business, expanding LSEG’s capabilities across the latency spectrum through a global low latency network of over 300 cross asset, exchange and trading venue feeds. This 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.
Andrea Remyn Stone, group head of Data & Analytics at LSEG, said in a statement: “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.”
Stuart Brown, group head of Enterprise Data Solutions at LSEG, said in a statement: “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, CEO and co-founder of MayStreet, said in a statement: “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.”
Michael Lehr, CTO and co-founder of MayStreet, said in a statement: “Our high-quality data and powerful low-latency software combined with LSEG’s industry standard platform and strong operational capabilities will allow us to provide market-leading services to the most sophisticated data users.”