London Stock Exchange Group (LSEG) is consolidating its global finance operations by migrating to Oracle Cloud, which will replace multiple legacy systems currently in use.
Following a series of acquisitions, LSEG aims to enhance its operational efficiency by transitioning from 17 outdated financial systems to Oracle’s applications. By utilizing Oracle Fusion Cloud and Oracle Financial Services Applications on a unified platform, the exchange is poised to improve efficiency, reduce costs, and refine its financial planning, forecasting, and controls.
Joanna Fielding, group head of transformation finance at LSEG, stated, “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.”
In addition, last year, LSEG entered into a 10-year agreement with Microsoft for cloud services, data analytics, and workspace products across its entire technology architecture. As part of this partnership, Microsoft also purchased a four percent stake in the exchange operator.