Compliance technology and data analytics platform SteelEye has been chosen by securities dealer Ardent Financial to support its MiFID II and MAR compliance.
Ardent was seeking an automated tool for compliance as well as a solution which would enable them to manage, oversee, mitigate and prevent regulatory risk for a variety of regulations and obligations.
It selected SteelEye for its market abuse monitoring, transaction reporting, recordkeeping and more.
Ardent Financial COO Aidan Brady said, “We took the decision early on to automate as much of our compliance set up as possible.
“SteelEye enables us to do this, reducing the complexity of what can otherwise be an arduous and painful process. SteelEye is also one of the most cost-effective solutions we came across and very few other vendors offer the same breadth of regulatory compliance solutions.”
The SteelEye solution offers a platform for recordkeeping, trade reconstruction, MiFID II and EMIR transaction reporting, trade and communications surveillance, best execution, transaction cost analysis, analytics and more.
SteelEye CEO Matt Smith said, of “The amount of information collected, stored and used by financial firms has exploded over the past decades. Different data sets spread across multiple platforms and systems makes financial compliance both complex and time consuming.
“By having a data-centric approach to regulatory conformance and offering a suite of integrated compliance modules, we enable firms like Ardent Financial to facilitate effortless compliance whilst automating large parts of their processes.”
Earlier in the year, SteelEye closed its Series A round on $10m, which was led by Eight Roads.
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