The London Stock Exchange is in talks with UK regulators about the possibility of setting up a trade repository for over-the-counter derivatives, in the latest sign of the group's plans to diversify its revenues and benefit from new rules being formulated in reaction to the 2008 crisis.
The exchange has begun talks to seek repository status for its Transaction Reporting Service, a system it bought from UK regulator, the Financial Services Authority, earlier this year.
Mark Husler, head of business development for the LSE’s information services group, said: “We are in very early discussions with UK regulators about the possibility of using the UnaVista TRS as a registered trade repository for over-the-counter derivatives”.
David Lester, director of information services for the LSE, described the transaction as "excellent news for FTSE and the LSE”. He added: “Closer collaboration will create significant opportunities for our combined businesses, especially in derivatives, fixed income, transaction processing and information services".
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