Compliance technology and data analytics firm SteelEye has been chosen by authorised Financial Services Provider, SCM DMA (Pty) Ltd.
DMA is regulated by the Financial Sector Conduct Authority in South Africa and provides multi-asset execution, prime brokerage, trading technology and portfolio management solutions to institutional clients and their end customers.
DMA initially planned to gain improved control over their MiFID II transaction reporting and selected SteelEye because of the end-to-end visibility and high degree of process automation provided by the MiFIR service.
Peter Johnson, Director (Legal & Compliance) at DMA said:
We selected SteelEye because we wanted to facilitate MiFIR reporting solutions for certain institutional clients using DMA services. When noting the offering also included Trade Surveillance and Best Execution, we decided to extend the services with SteelEye in order to take full control of our compliance processes, some of which we had partially outsourced. With SteelEye, we can meet multiple regulatory requirements within one platform, utilising the same data set, and get enhanced insight into our operations.
Matt Smith, CEO of SteelEye commented:
Because of our data-centric approach, clients gain end-to-end visibility of all workflows and processes – feeling confident in their compliance. We are delighted to welcome DMA onboard as we enable them to enhance their compliance control by centralising reporting, surveillance and best executions on one platform.
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.