UnaVista And SteelEye Partner For Regulatory Reporting
SteelEye, the compliance technology and data analytics firm, and UnaVista, the regulatory reporting platform from London Stock Exchange Group, today announced a partnership to support financial firms with best-in-class reporting servicesĀ as they migrate from CMEās European Trade Repository (TR) and NEX Abide regulatory reporting services, which will close in November 2020.
We have partnered with @UnaVista to support financial firms with best-in-class reporting services as they migrate from CME/ NEX Abide. As a result, šæš²š½š¼šæšš¶š»š“=šš¶šŗš½š¹š¶š³š¶š²š±. Learn more> https://t.co/b6Y0paK7Va#unavista #steeleye #regtech #fintech #regtech @LSEGplc pic.twitter.com/r3f5Kl4qgk
— steeleyeltd (@SteelEyeLtd) June 30, 2020
SteelEye has been a technical router intoĀ UnaVistaās Approved Reporting Mechanism (ARM) for MiFIR since 2017. To support market participants migrating from CME, SteelEye has now also integrated with UnaVistaāsĀ European Trade Repository (TR) for EMIR reporting.
āThis integration builds on the existing partnership between SteelEye and UnaVista andĀ ensures that financial firms continue to have access to high-quality and cost-efficient regulatory reporting services,ā saidĀ Matt Smith, CEO of SteelEye. āEMIR reporting has always been an area associated with complexity and cost, issues which this partnership addresses head-on. By integrating with UnaVistaās TR, we are able to provide market participants with an effective, intelligent, yet cost-effective EMIR reporting service.ā
āHundreds of firms face the challenge of migrating their reporting processes away from CME, and need to do so quickly,ā saidĀ Mark Husler, CEO, UnaVista. āTogether with SteelEye, we offer a fast and efficient response to this demand and provide a wealth of other benefits to joint clients.ā
By utilising SteelEyeās EMIR and MiFIR reporting solutions, combined with UnaVistaās TR and ARM, a migration from CME is effortless. SteelEye and UnaVista have also developed a data convertor, meaning that firms can continue to use their existing reporting input files. Further, since MiFIR and EMIR reporting is fully integrated, the same data can be used for both reporting requirements.
Since SteelEyeās launch in 2017, the companyās regulatory reporting suite has been adopted by a high number of clients, attracted by a fully automated reporting process and the ability to effectively manage breaks and validations.
The service works by ingesting clientsā order and trade data and automatically compiling the daily EMIR / MiFID II transaction reports. At this point, clients can choose to automatically submit their reports to UnaVista, or manually click a button. All reports are thereafter validated against the reporting criteria, which can be easily managed within the SteelEye dashboard. By consolidating the data required for reporting, clients also gain access to a vast array of analytics, including market abuse detection, portfolio analysis and Net-Asset-Value calculations.
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