London, 7 January 2021 - SteelEye, the compliance technology and data analytics firm, has been selected to provide MiFIR and EMIR reporting services to Capital Index, a fully authorised and regulated broker offering CFDs, Spread Betting and FX trading.
Following the announcement that CME Group was closing the NEX Abide business last year, a large number of firms were forced to find a replacement solution for EMIR and MiFIR reporting. As part of this process, Capital Index reviewed a range of different vendor solutions. Aware of the technical challenges of transaction reporting, the broker selected SteelEye because of its advanced solutions, unique approach to compliance and hands-on team.
“Rather than approaching compliance obligations from the perspective of the individual regulations, SteelEye focuses on data and technology first. As we were evaluating our options, this gave us comfort that they would meet all of our needs,”said Matthew Wright, CEO of Capital Index. “We are excited to work with the SteelEye team as we use their solutions for EMIR and MiFIR reporting.”
By implementing SteelEye, Capital Index has been able to improve its reporting processes, many of which they did not realise were inefficient or could be improved. As a result, they now have a futureproofed solution for regulatory change and full confidence in their ability to meet their obligations under MiFID II and EMIR.
“When CME announced their intention to close their regulatory reporting business, we knew that many firms would quickly have to find an alternative – which we wanted to facilitate as efficiently and seamlessly as possible,” said Matt Smith, CEO of SteelEye. “We are delighted to have been selected by Capital Index and to add value to their reporting processes.”
About Capital Index:
Capital Index is a global online brokerage specialising in CFDs, Financial Spread Betting and Spread Trading on a range of financial instruments including Foreign Exchange (FX), Commodities, Indices and Metals. With operations in the UK, the company is staffed by experienced traders and professionals with distinguished reputations in the financial market, offering in-depth knowledge, strong client focus and total commitment to ethical standards. They are supported by an advanced technical infrastructure that provides an outstandingly efficient, rapid online trading environment. Clients can benefit from access to the best price feeds possible as well as minimal latency and ultra-fast execution. Capital Index (UK) Ltd is authorised and regulated in the UK by the Financial Conduct Authority (register number 709693).
SteelEye is a RegTech and data analytics firm that was established to reduce the complexity and cost of financial compliance and enable firms globally to manage their regulatory obligations through a single platform.
SteelEye’s ability to bring together, cleanse, index and analyse structured and unstructured data across all asset classes and communication types enables clients to effortlessly meet their regulatory needs, because when all this data is in one place, compliance becomes both easy and cost-effective. And with everything under one lens, firms also gain fresh insight into their business, helping them improve their efficiency and profitability.
To date, SteelEye has launched solutions for record keeping, trade reconstruction, transaction reporting, trade and communications surveillance, best execution reporting, transaction cost analysis and advanced analytics for regulations including MiFID II, EMIR, Dodd-Frank, SMCR and MAR.