The transaction adds to a recent trend of exchanges and tech firms linking up after similar partnerships between Nasdaq Inc. and Amazon.com Inc., as well as Alphabet Inc.’s Google and CME Group. It points to increased demand from investors for information that gives them an edge in increasingly fast electronic markets.
Microsoft Corp. agreed to buy a 4% stake in London Stock Exchange Group Plc in a US$2.8 billion cloud-computing deal that pushes big tech further into financial markets.
As part of the agreement, LSEG said it will spend at least that amount on cloud services with Microsoft over the next 10 years. The partnership will speed up the migration of its markets to the cloud and allow it to develop new products and services, it said Monday.
