(Alliance News) - London Stock Exchange Group PLC on Thursday announced the opening of its Technology Centre of Excellence in Hyderabad, India.

The London-based stock exchange and financial information company said the opening was "a key step" in its global expansion efforts.

"The facility aims to spearhead new product and service development by prioritising low-latency technology development and capitalising on the local startup ecosystem," LSEG said.

Hyderabad was chosen due to its "alignment with LSEG’s ambitions in talent, innovation, infrastructure, and financial services."

LSEG added that it plans to hire over 1000 engineers and professionals by the end of 2025.

Chief Information Officer Irfan Hussain said: "We are delighted to open our new Technology Centre of Excellence in Hyderabad. It will play an important role in enabling us to deliver best-in-class products that our customers require and to become a leading provider of engineering solutions to the global financial ecosystem."

Shares in LSEG were up 0.1% at 9,172.70 pence each in London on Friday afternoon.

By Sabrina Penty, Alliance News reporter

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