SteelEye picked by Schroders to aid MiFIR compliance

Compliance technology developer SteelEye has been picked by Schroders to help with MiFIR transaction reporting.

The SteelEue platform gives clients full visibility of their entire MiFID II transaction reporting workflow. It includes automated tools to help manage any over or under-reporting, as well as data validation errors.

Its capabilities include MiFIR eligibility checks, analytics on rejection handling from approved reporting mechanism and national competent authority, MiFIR data validation, transaction edits, audit trails and automated submission schedules.

Schroders global head of operations change Keith Frimpong said, “The SteelEye implementation has helped us to improve the level of control and accuracy we have around our MIFID II transaction reporting.

“We selected SteelEye because of the quality of their technology, the expertise demonstrated by their team and their willingness to support our tight implementation timelines.”

The RegTech platform was also recently picked by securities dealer Ardent Financial to support its MiFID II and MAR compliance.

SteelEye closed a $10m Series A round in February 2020 from Eight Roads, Fidelity and Illuminate Financial.

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