According to the FSA, it has entered into a conditional agreement to sell its Approved Reporting Mechanism (ARM).
The solution was set up to enable the reporting of transactions in accordance with the obligations of the Markets in Financial
Instruments Directive (MiFID), with the regulator using the information to prevent insider trading and market abuse.
David Lester, director of Information Services at the LSE Group (LSEG), said: âI'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 LSEGâs leading UnaVista platform.
âCustomers will benefit from a significantly improved product and access to a wide range of value added solutions.â
The completion of the deal is subject to approval by the Office of Fair Trading and TRS customers will be migrated to the UnaVista platform once it has been signed off.
by Jim Ottewill