Vorm joined Spurs along with Swansea team-mate Ben Davies, the Wales defender, in a deal that sees Iceland midfielder Gylfi Sigurdsson travel in the opposite direction.
“Every club has two top goalkeepers in their squad,” Vorm said. “It suits the club’s philosophy that there are two of us with Hugo and me, especially when Tottenham are active in a lot of competitions.”
Vorm, 30, could take over from veteran Brad Friedel and feature in Tottenham’s cup games, as the American did last term, with Lloris the first choice for Premier League fixtures.
Davies, 21, has signed a five-year contract and is likely to be Mauricio Pochettino’s favoured left-back. He is believed to be a straight swap for Sigurdsson, who flourished on loan at Swansea in early 2012, while Vorm, who has signed a four-year deal, is thought to have cost Spurs £2.5m. The pair are Tottenham manager Pochettino’s first signings since he took charge earlier this summer.
Liverpool are expected to beat Arsenal to the signing of Atletico Madrid full-back Javier Manquillo, 20, on a season-long loan. Gunners midfielder Thomas Eisfeld, 21, has joined Fulham on a two-year deal.