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LSEG unifies global finance ops on Oracle Cloud

LSEG unifies global finance ops on Oracle Cloud

London Stock Exchange Group is unifying its global finance operations on Oracle Cloud, replacing a host of legacy systems with the vendor's applications.

Having made a raft of acquisition, the exchange operator is seeking to streamline its operations, replacing 17 legacy finance systems with Oracle.

With Oracle Fusion Cloud and Oracle Financial Services Applications running on a unified platform, LSEG says it will increase efficiency, reduce costs, and improve its financial planning, forecasting, and controls.

Joanna Fielding, group head, transformation, finance, LSEG, says: “With Oracle Cloud, we will be better able to align our financial operations to enhance performance, make better use of data, increase efficiency, and streamline billing - all while delivering outstanding service to customers.”

Last year, LSEG agreed a 10-year deal with Microsoft for cloud, data analytics and workspace products across the exchange operator's entire technology architecture. Microsoft also acquired a four per cent stake in the operator.

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