Asset Servicing Times | Schroders selects SteelEye to improve MiFIR transaction reporting

SteelEye, the compliance technology and data analytics firm, has been selected by the investment manager, Schroders to improve its Markets in Financial Instruments Regulation transaction reporting.

SteelEye provides clients with full visibility of their entire second Markets in Financial Instruments Directive (MiFID II) transaction reporting workflow.

This includes 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 and automatic submission schedules.

Keith Frimpong, global head of operations change at Schroders, said the implementation of SteelEye 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”, he noted.

Matt Smith, CEO of SteelEye, added: “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.”

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