London Stock Exchange to acquire FSA transaction Reporting Business

London Stock Exchange to acquire FSA transaction Reporting Business

Agreement with FSA underlines London Stock Exchange Group commitment to supporting client regulatory requirements

- TRS clients to benefit from improved functionality

- All clients can be seamlessly migrated to functionally enriched UnaVista platform

The London Stock Exchange Group plc (LSEG) today announced that it has entered into an agreement to acquire Transaction Reporting Service (TRS), the FSA’s Approved Reporting Mechanism (ARM).

Existing TRS clients will be rapidly migrated on closing to the UnaVista platform, the LSEG’s own ARM, which will accept brokers’ TRS-formatted data submissions. TRS customers will benefit from UnaVista’s significant functionality enhancements, as well as the opportunity to use the same user interface to access other solutions on the UnaVista platform, including reconciliations and the multi asset class trade confirmation portal.

David Lester, Director of Information Services at the London Stock Exchange Group said:

“I’m delighted to announce that we have reached agreement with the FSA to acquire TRS and look forward to welcoming our new clients to the LSEG’s leading UnaVista platform. Customers will benefit from a significantly improved product and access to a wide range of value added solutions. This underlines our commitment to our customers in assisting them with all their execution and trade processing needs.”

Patrick Spens, Head of Market Monitoring at the FSA said:

“We are pleased to announce we have reached an agreement with the London Stock Exchange for the sale of TRS to the LSE. The FSA chose the London Stock Exchange because it is an organisation that has been handling transaction reporting for many years, and with its transaction reporting solution on UnaVista it was seen as an ideal choice for TRS clients.”

The agreement to acquire the business and assets of TRS was made for a consideration of £15m in cash. The transaction is conditional on Office of Fair Trading clearance.