The Financial Services Authority (FSA) is selling its approved reporting mechanism, Transaction Reporting System (TRS), to the London Stock Exchange (LSE) for £15 million. The TRS, set up for the reporting of transactions in regulated instruments by firms to the FSA, has been offloaded as it did not form part of the FSA’s core role of a regulator.
The LSE is planning to transfer TRS customers to its UnaVista platform on completion of the transaction, which is subject to clearance by the Office of Fair Trading. Corporate finance advisor PricewaterhouseCoopers and legal advisor Mills & Reeve advised the FSA on the sale.
Click here for the release from Financial Services Authority.