Consolidate data under one lens for effortless regulatory reporting, compliance surveillance and enhanced management insight.
Changing regulatory landscape
The Financial Services landscape has changed dramatically over the past decade. Regulatory requirements have not just become onerous but are growing, each piece of legislation large and complex, with different obligations, provisions and exemptions.
This changing landscape and the financial / reputational risk of non- compliance has increased the burden on firms’ compliance functions, driving up the demand for skilled staff and technology that can present holistic, scalable and flexible solutions.
The need for consolidated data
Data is key for compliance. However, following the implementation of regulations such as MiFID II, a lot of financial firms have ended up with a patchwork of services and vendors. This has resulted in manual workflows and vast amounts of scattered and disparate data, which is preventing firms from gaining a holistic overview of data and making compliance more complex and time consuming than necessary. As a result, compliance leaders often lack the time to exercise oversight, stuck in a constant state of firefighting.
SteelEye is an intelligent data platform, which brings together a wealth of data under one lens, enabling companies to derive enhanced business value from their information. The platform is a fully integrated and cloud- based SaaS solution, aggregating and analysing both structured and unstructured data across all asset classes and communication types. By using SteelEye to consolidate and normalise trade, order, communications, market and reference data on one platform, financial firms can effortlessly comply with a range of regulatory mandates.
This allows firms to meet their requirements for trade and communications surveillance, transaction reporting, record keeping, trade reconstruction and best execution reporting under regulations such as MiFID II, EMIR, MAR, Dodd-Frank and SM&CR. The data required for compliance can also provide valuable insights into a firm’s performance. The cumulative requirement imposed by the various regulations to unify and store data therefore represents a considerable opportunity. It also allows firms to build up a comprehensive data repository, future-proofing themselves for regulatory change.
- Reduce Costs: Legacy systems are expensive. By automating workflows and accelerating reporting, SteelEye frees up budget and resource. Because SteelEye is cloud-based solution, clients don’t require additional infrastructure.
- Comply Smarter: By consolidating all data under one lens, SteelEye enables firms to meet a range of their compliance needs through one comprehensive solution.
- Gain Insight: With SteelEye, firms gain a holistic view of all data, enhancing management insight beyond mere compliance.
- Realise Synergies: Many regulatory regimes require the consolidation of largely the same data for reporting/record-keeping. This is an opportunity to leverage the resulting data lake to realise synergies, gain improved business insight and increase efficiency.
For more information or to request a call + 44 20 3176 8300 or visit www.steel-eye.com