Improving control and accuracy of MiFIR Transaction Reporting
London, 29 September 2020 - SteelEye, the compliance technology and data analytics firm, has been selected by the world-class investment manager, Schroders.
The FTSE100 listed global investment manager with over £500bn assets under management deployed SteelEye in July 2020.
“The SteelEye implementation has helped us to improve the level of control and accuracy we have around our MIFID II transaction reporting,”said Keith Frimpong, Global Head of Operations Change at Schroders.
He added: "We selected SteelEye because of the quality of their technology, the regulatory expertise demonstrated by their team and their willingness to support our tight implementation timelines.”
SteelEye is designed to provide clients with full visibility of their entire MiFID II transaction reporting workflow, including efficient and automated tools that enable them to easily and seamlessly manage any over or under-reporting, as well as data validation errors. SteelEye provides:
Sophisticated MiFIR eligibility checks
Analytics on rejection handling from both the Approved Reporting Mechanism (ARM) and National Competent Authority (NCA)
MiFIR data validation rules
The ability to edit transactions directly within the platform
A full audit trail of all activity
Automatic submission schedules
Schroders operates from 34 locations across Europe, the Americas, Asia, the Middle East, and Africa. The two century-old business offers both asset management services to institutions and private investors as well as a wide range of wealth management services which focus on preserving and growing their clients’ wealth.
"MiFID II Transaction Reporting was the first RegTech service on the platform when we launched SteelEye in October 2017. We are honoured to partner with Schroders and delighted they recognise the value in our reporting solution. This reassures us that our data-centric compliance platform truly addresses an industry need,” said Matt Smith, CEO of SteelEye.
SteelEye reduces the complexity and cost of compliance by enabling financial firms to manage their regulatory obligations through a single platform. SteelEye’s extensive range of services include regulatory reporting for MiFID II and EMIR, trade and communications surveillance, best execution, transaction cost analysis, record keeping, trade reconstruction, analytics and more.
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. For more information, visit: www.steel-eye.com.