SteelEye, a compliance technology and data analytics firm, has launched a new data platform following a successful early adoption program.
The SteelEye product has been designed to help financial firms meet their obligations under MiFID II for Record Keeping, Trade Reconstruction, Best Execution and Transaction Reporting in one platform. SteelEye also helps firms extract valuable insights from their data, as well as helping them cope with GDPR and other key regulations.
SteelEye’s cloud-based platform has several advantages to help firms optimise their business. It is the only platform that offers transaction reporting, record keeping, trade reconstruction, best execution and data analytics in a single solution. SteelEye brings together order and trade data, electronic and voice communications, market data, reference data and counterparty information. The insights gained from bringing this data together helps firms to trade with greater efficiency, profitability and control. At the same time, the open API framework allows clients to harness the power of their data in whatever manner that best suits their business needs.
“With a number of regulatory deadlines looming, many firms in the UK and throughout Europe are still unsure of the impact these regulations will have on day-to-day operations. SteelEye’s mission is to help regulated firms not only comply with their regulatory obligations through our innovative cloud-based platform, but we also want them to gain insights which can enable them to improve their efficiency, client service and profitability,” says SteelEye CEO Matt Smith (pictured. “We believe companies should seek out the long-term benefits available from data they must consolidate for regulatory purposes. We want to help them astutely analyse their own data to gain commercial advantage and drive business growth. Our motto is ‘don’t just comply, compete’.”
The SteelEye platform also makes it possible for firms to manage and analyse unstructured, ‘dark’ data, or documents and attachments. This gives a whole new dimension to uncovering both wanted and unwanted behaviours and information.
