UnaVista has partnered with SteelEye to provide reporting services to financial institutions as they migrate from CME’s European trade repository (TR) and NEX Abide regulatory reporting services, which are set to close in November 2020.
As a compliance technology and data analytics company, SteelEye has already co-operated with UnaVista as a technical router for the regulatory reporting platform’s approved reporting mechanism for Markets in Financial Instruments Regulation (MiFIR).
The partnership will see SteelEye integrate with UnaVista’s European TR for European Market Infrastructure Regulation (EMIR) reporting, as well as develop a data converter that can be used for both reporting requirements, to facilitate migration from CME.
The solution created under the partnership will receive order and trade data to automatically compose daily EMIR and MiFIR transaction reports.
Matt Smith, CEO of SteelEye, commented: “This integration builds on the existing partnership between SteelEye and UnaVista and ensures that financial firms continue to have access to high-quality and cost-efficient regulatory reporting services.”
“EMIR reporting has always been an area associated with complexity and cost, issues which this partnership addresses head-on. By integrating with UnaVista’s TR, we are able to provide market participants with an effective, intelligent, yet cost-effective EMIR reporting service.”
Mark Husler, CEO of UnaVista, added: “Hundreds of firms face the challenge of migrating their reporting processes away from CME, and need to do so quickly. Together with SteelEye, we offer a fast and efficient response to this demand and provide a wealth of other benefits to joint clients.”