LSE to close TRS once sale has been approved

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