High demand for cloud-based compliance technology and remote working conditions brought on by the pandemic were key drivers for SteelEye to expand into US.
SteelEye will act as a replacement for CME Group after the May announcement that it would be shutting down its regulatory reporting services by the end of 2020.
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SteelEye clients will gain access to a wide range of Refinitiv data to carry out investigations and analysis across multiple asset classes and regions.
SteelEye CEO, Matt Smith, told The TRADE the implementation took just three months and was completed in July this year.
Rob Friend joins SteelEye as its new chief operating officer after 12 years at Bloomberg building out the product strategy for MiFID II products.
The new auto-trade reconstruction technology from SteelEye will reduce the time taken to reconstruct a trade from days to seconds.
SteelEye’s RegTech suite will be available to clients of Margin Reform as firms switch vendors following reporting shut downs at CME and Deutsche Börse.
Both firms have seen an increase in demand for cloud-based voice capture technologies amid the shift to remote working.
Following CME’s move to wind down its regulatory reporting division, UnaVista and SteelEye will support firms as they migrate from the exchange.