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    Auto-Trade Reconstruction

    Automatic Trade and Order Reconstruction for Financial Services Compliance

    cOMMS CALLOUTS

    Effortlessly recreate the conditions surrounding any trade or order

    The regulator can at any point ask you to recreate all the conditions surrounding a trade or order. This can be for a specific trade with a specific client, or every trade over a particular period of time, and you may only be given 72 hours to comply. 

    With SteelEye reconstructions are automatic 
    Book a demo to see it in action

    Under MiFID II, Dodd-Frank and other  regulations, financial firms are required to store records of all activities and transactions to prove best execution and demonstrate continuous oversight, among other obligations.

    To ensure firms are meeting these requirements, the regulator can request a copy of all the details surrounding a particular trade or order, or even every trade over a particular period of time.

    This requires firms to have the ability to quickly extract information. However, considering the wide range of events that can relate to a single trade, this can both complex and arduous.

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    SteelEye Auto Trade Reconstruction 2

    By leveraging artificial intelligence, machine learning and advanced data relationships, SteelEye makes trade reconstructions effortless — reducing the risk of regulatory scrutiny for firms and personal liability for senior managers. 

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    SteelEye Data Platform FactSheet-1

    The Problem

    As it stands most financial institutions manage their data across multiple platforms, including order management, trading, compliance and CRM systems.

    While these platforms make up the information needed for trade reconstructions, and individually meet the regulatory record keeping obligations, they don't tend to communicate. Add to that the fact that many of these operations are often completed by multiple people, and bringing together all the relevant data for a trade reconstruction is prohibitively difficult.

    As a result, it can take several days for a firm to audit, identify and export the relevant information requested by the regulator, making it nearly impossible to meet the regulatory deadline.

    Smarter Compliance

    SteelEye seamlessly captures all of your structured and unstructured data across any asset-class, communication type and system – unifying it under a single lens, where it is cleansed, normalised, indexed and made instantly retrievable. 

    The platform thereafter looks at any given scenario or piece of data and simultaneously brings together all information that is deemed to be relevant, such as communications or transactions as well as independent pricing. 

    By accepting or rejecting these "suggestions" the systems learns as it goes along, becoming better at reconstructing each scenario. This means that firms can dive into any trade or order and immediately see all the relating phone calls, meetings, WhatsApp messages, and transaction details. 

    The requirement under MiFID II, MAR, Dodd-frank and other regulatory regimes to reconstruct the conditions surrounding a trade or order requires firms to identify, locate and bring together a wide range of information, quickly. This process, which takes some firms more than two weeks to complete, is automatic and effortless with SteelEye's auto-trade reconstruction.

     

    Matt Storey

    Matt Storey, Chief Product Officer

    Simplified Case Management 

    At the click of a button, your can easily add your reconstructed records to an existing case or create a new one. This can then be easily exported from SteelEye, ready to be submitted to the regulator. As a result, your trade reconstruction takes moments rather than days.

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    Best Trade Reconstruction Solution-min-1
    Award Winning Solution

    SteelEye was recognised as the best Trade Reconstructions solution in the 2021 Trading Tech Insight Awards.

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    LOCATIONS

    United Kingdom - 5th Floor, 55 Strand, London, WC2N 5LR

    France - 4 Place de la Défense
    92974 Paris la Défense 4

    United States - 450 Lexington Ave, New York, NY 10017, United States

    HEAD OFFICE

    +44 203 176 8300

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    +44 203 176 8301
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    STEELEYE LIMITED, A COMPANY REGISTERED IN ENGLAND AND WALES WITH COMPANY NUMBER: 10581067, VAT NUMBER: 260818307 AND REGISTERED ADDRESS AT 55 STRAND, LONDON, WC2N 5LR.