SteelEye teams up with UnaVista to support market participants migrating from CME

RegTech and data analytics firm SteelEye and regulatory reporting platform from London Stock Exchange Group UnaVista announced partnering to support financial firms with reporting services as they migrate from CME’s European Trade Repository (TR) and NEX Abide regulatory reporting services, which will close in November 2020.

SteelEye has been a technical router into UnaVista’s Approved Reporting Mechanism (ARM) for MiFIR since 2017.SteelEye has also integrated with UnaVista’s European Trade Repository (TR) for EMIR reporting to support market participants migrating from CME.

Matt Smith, CEO of SteelEye said:

Matt Smith, CEO of SteelEye

Matt Smith

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, UnaVista commented:

Mark Husler, UnaVista, London Stock Exchange Group

Mark Husler

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.

SteelEye’s EMIR and MiFIR reporting solutions in combination with UnaVista’s TR and ARM help smooth the migration from CME. SteelEye and UnaVista have also developed a data convertor which allows firms to continue using their existing reporting input files. Since MiFIR and EMIR reporting is fully integrated, the same data can be used for both reporting requirements.

Since its launch in 2017, SteelEye’s regulatory reporting suite has been adopted by a large number for clients. The suite offers a fully automated reporting process and allows effective management of breaks and validations.

The services ingest clients’ order and trade data and automatically compiles the daily EMIR/MiFID II transaction reports. Clients can choose automatic or manual submission of their reports to UnaVista. After that all reports are validated against the reporting criteria, which can be easily managed within the SteelEye dashboard. By consolidating the data required for reporting, clients gain access to big arsenals of analytics, including market abuse detection, portfolio analysis and Net-Asset-Value calculations.

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