The two sides are currently in the bottom seven places in League Two, three and four points above Northampton respectively.
Bury have signed Wigan Athletic full-back Jordan Mustoe for one month, his third spell in the division after time spent with Morecambe and Barnet.
Torquay, meanwhile, have added central defender Anthony O'Connor to their ranks. The 20-year-old, who spent last season on loan at Burton Albion, moves from Blackburn Rovers also on a one-month deal.
Source: Cobblers Mad