The new Financial Conduct Authority authorised securities dealer Ardent Financial, launched on 8 June, has selected SteelEye, the compliance technology and data analytics firm.
As part of this, SteelEye will provide compliance services for the second Markets in Financial Instruments Directive (MiFID II) and Market Abuse Regulation (MAR).
Designed to help firms ‘Comply Smarter’ by managing their compliance holistically, SteelEye offers solutions for record keeping, trade reconstruction, MiFID II and European Market Infrastructure Regulation transaction reporting.
Further solutions include trade and communications surveillance, best execution, transaction cost analysis, analytics among others.
Ardent Financial has licensed SteelEye’s Core Package, Trade Surveillance and MiFID II Transaction Reporting.
Aidan Brady, chief operating officer, Ardent Financial, 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.”
Matt Smith, CEO of SteelEye, commented: “The amount of information collected, stored and used by financial firms has exploded over the past decade. 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,” Smith added.
