In June 2021, Rimes Technologies Ltd decided to close its trade surveillance business to refocus efforts on its core services. Consequently, the firm recognized it needed to migrate its trade surveillance customers away from the platform and took the proactive decision to partner with an alternative vendor it could trust its clients with. They selected SteelEye.
Why Rimes Selected SteelEye:
SteelEye provides an asset class agnostic Trade Surveillance solution that offers comprehensive coverage for a wide range of market abuse activities and behaviors. The cloud-based platform which is accessible via a secure web browser has an intuitive user interface and workflow automations that utilize the latest and greatest technologies. As Rimes started speaking to complementary service providers, they quickly recognized the power of the SteelEye platform.
“Over the past few years, SteelEye has established itself as a clear leader in trade and communications surveillance. When we were looking for a partner to recommend our trade surveillance clients to, we evaluated all major players in the industry, and SteelEye stood out as the undisputed front-runner," said Alex Wolff, Head of Strategy and Business Insights at Rimes.
First Sentier benefits from an efficient and seamless migration
First Sentier Investors is the first client to undergo the migration from Rimes to SteelEye and has enjoyed an efficient and streamlined experience.
“Migrating our trade surveillance to SteelEye has been a seamless process and teams at Rimes and SteelEye have been responsive, helpful, and at hand to ensure everything went smoothly,” said First Sentier Investors.
SteelEye has been designed to make client migrations as easy as possible. Working with the team at Rimes, clients migrating to SteelEye get a supported off- and onboarding experience. For example, SteelEye integrates firms’ existing data connectors, trade surveillance thresholds, and any other customizations.
"The SteelEye platform matches and exceeds Rimes’ trade surveillance capabilities and offers additional functionality, for example for Best Execution and Regulatory Reporting. We were also impressed by the team’s responsiveness and willingness to facilitate a seamless transition for our clients. We knew this would be the platform our clients could trust for their needs today as well as in the future, as they grow and the regulatory landscape evolves,” added Alex Wolff.
Key benefits of migrating trade surveillance to SteelEye:
Fully supported on and off-boarding from Rimes from SteelEye
Seamless migration of trade surveillance thresholds and data connectors
No overlap in subscription fee payments
To learn more about how to migrate trade surveillance to SteelEye, please contact email@example.com or book a demo here.