The Financial Services Authority (FSA) has entered into a conditional agreement to sell the Transaction Reporting System (TRS) to the London Stock Exchange (LSE) for £15m.
The TRS is an approved reporting mechanism (ARM) in the UK market for the reporting of transactions in regulated instruments by firms to the FSA. It is designed to help the regulator detect and investigate suspected cases of market abuse, insider trading, market manipulation and is also used as part of its monitoring of supervised firm activity. It was developed by the FSA to help firms meet their MiFID reporting obligations after November 2007. However, the FSA now says a "competitive market" has developed for the provision of transaction reporting services to the industry, includ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
