The TORCH detector provides low-momentum particle identification, combining Time of Flight (TOF) and Cherenkov techniques to achieve charged particle pi/K/p separation between 2???20 GeV/c over a flight distance of 10 m. The measurement requires a timing resolution of 70 ps for single Cherenkov photons. For precision photon detection, customised Micro-Channel Plate Photomultiplier Tubes (MCP-PMTs) with high precision TOF measurement electronics have been developed. The electronics measures time-over-threshold from the MCP-PMT and features a 10-Gigabit Ethernet readout. This paper reports the design and performance of a 5120-channel system which currently instruments a pair of MCP-PMTs, but has the capacity to read out ten customised MCP-PMT devices in the future.