LSE to close TRS once sale has been approved

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Frederic Ponzo, GreySpark Partners

The London Stock Exchange (LSE) is planning to close the transaction reporting system (TRS) it has conditionally bought from the UK Financial Services Authority (FSA) “within a matter of months”, according to a spokesperson from the LSE. The FSA has agreed to sell its approved reporting mechanism (ARM) TRS to the LSE for £15 million. The sale is subject to a consultation period of six to eight weeks conducted by the Office of Fair Trading. It is a conditional sale, although