London Stock Exchange Group (LSEG) has officially announced its acquisition of MayStreet, a prominent market data solutions provider. This strategic move, finalized in an agreement disclosed today, is set to significantly bolster LSEG’s Enterprise Data Solutions business, particularly in the domain of low latency market data.
MayStreet, established in 2012, has carved a niche for itself by delivering high-caliber, global low latency technology and market data. Its client base includes over 65 key players in the financial industry, ranging from major banks to asset managers and hedge funds. Notably, MayStreet already had a working relationship with LSEG, supporting its Real-Time Direct feed service. Furthermore, since 2019, MayStreet has been a trusted market data provider for the SEC’s Market Information Data Analytics System (MIDAS).
This acquisition is poised to expand LSEG’s reach and capabilities across the entire latency spectrum. By incorporating MayStreet’s technology, LSEG will gain access to an extensive global low latency network. This network encompasses over 300 cross-asset exchange and trading venue feeds. The integration of MayStreet’s expertise will complement LSEG’s existing real-time feeds and historical market data offerings. This enhancement is particularly valuable for front office customers who rely on such solutions for critical functions like research, strategy development, and powering sophisticated electronic trading applications.
Andrea Remyn Stone, Group Head of Data & Analytics at LSEG, emphasized the strategic alignment of this acquisition, stating, “Combining LSEG’s proven leadership in Enterprise Data with MayStreet’s specialized expertise in low latency data and innovative cloud technology presents a compelling proposition for our customers.” She further added, “This acquisition provides us with a significant opportunity to broaden our low latency data offerings, ensuring we deliver superior, high-quality data in a flexible manner across the latency spectrum to our global clientele.”
Stuart Brown, Group Head of Enterprise Data Solutions at LSEG, also highlighted the significance of the acquisition for their business expansion. “Adding MayStreet’s deep domain expertise in low latency solutions to our current capabilities is a pivotal step in further expanding our leading real-time data services,” Brown commented. He elaborated on the practical benefits for clients, noting, “This will enable us to deliver increased value to our customers’ electronic trading workflows across a range of critical applications, including quantitative modeling, advanced research, and programmatic trading strategies.”
Patrick Flannery, CEO and Co-Founder of MayStreet, expressed enthusiasm about joining forces with LSEG. “We are thrilled to become part of LSEG at this dynamic time in the market,” Flannery stated. He acknowledged the growing demand for premium, low latency data, adding, “LSEG’s global presence and established market position will empower us to better serve our existing customers and develop innovative solutions that support crucial trading and investment decisions across the board.”
Michael Lehr, CTO and Co-Founder of MayStreet, echoed this sentiment, emphasizing the synergy between the two companies. “The combination of our high-quality data and robust low-latency software with LSEG’s industry-leading platform and strong operational capabilities will enable us to provide unparalleled, market-leading services to the most sophisticated data users in the financial industry.”
Upon completion of the acquisition, MayStreet will operate as part of the Enterprise Data Solutions business within LSEG’s Data & Analytics division. The acquisition is anticipated to be finalized in the first half of 2022. While the specific financial terms of the transaction remain undisclosed, the strategic benefits and the combined strengths of LSEG and MayStreet in the market data landscape are clearly evident.
