The London Stock Exchange Group (LSEG) has led a $7.5 million Series A funding round for corporate debt quote system BondCliQ.

The New York-based firm operates a consolidated quote system for the corporate bond market.

BondCliQ said the funding will be used for general corporate purposes, to build out its team, and to fund expansion into new corporate bond markets, including Europe.

In addition to the investment, BondCliQ said it had signed heads of terms to collaborate on new product opportunities with LSEG.

These include making BondCliQ’s proprietary data available through its platform, which it said would improve pre-trade pricing for corporate bonds.

This is not the only acquisition which LSEG has made in recent months, it agreed to acquire financial technology provider Quantile Group in December.

"LSEG is delighted to invest in BondCliQ," said Andrea Remyn Stone, group head, data and analytics at LSEG. "As a longtime supporter of visibility and transparency, we believe BondCliQ's consolidated quote system is a major structural improvement that will lead to better outcomes for all investors."

She added: “Funds from the investment will be used for general corporate purposes, to further build out the BondCliQ team and to help the company expand into additional corporate bond markets, such as Europe.

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