The London Stock Exchange (LSE) has completed the acquisition of Transaction Reporting Service (TRS) from the UK Financial Services Authority (FSA).
The group announced that it had reached agreement with the FSA to buy the Approved Reporting Mechanism (ARM) on August 2 2011. The deal to acquire the business and assets of TRS for a cash consideration of 15m received Office of Fair Trading clearance last week.
Existing TRS clients will be migrated to the UnaVista platform, the LSE’s own ARM, which has acquired the rights to accept brokers’ TRS-formatted data submissions. TRS customers will benefit from UnaVista’s functionality enhancements including management dashboards, data reconciliations and reference data for all asset types incorporating the new Alternative Instrument Identifier Exchange.
Migrating TRS customers will also gain access to the full range of UnaVista solutions including the UnaVista Swaps and Confirmation Portal that allows brokers and buy side clients to automate post trade communications of exchange traded and OTC transactions.
(JDC)