DMA selects SteelEye for MiFIR reporting 17 November 2020South Africa Reporter: Natalie Turner
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South African brokerage DMA has selected SteelEye to enhance its regulatory reporting, trade surveillance and best execution.
DMA provides multi-asset execution, prime brokerage, trading technology and portfolio management solutions to institutional clients and their end customers.
It initially set out to gain enhanced control over its transaction reporting under the second Markets in Financial Instruments Directive and selected SteelEye because of the end-to-end visibility and high degree of process automation its service offers.
SteelEye’s reporting suite promises to capture and validate client data in real-time and automate large parts of the transaction reporting process.
Peter Johnson, director of legal and compliance at DMA, explained: “We selected SteelEye because we wanted to facilitate Markets in Financial Instruments Regulation 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.”
Matt Smith, CEO of SteelEye, added: “Because of our data-centric approach, clients gain end-to-end visibility of all workflows and processes – feeling confident in their compliance,” said “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."
Elsewhere SteelEye partnered with Margin Reform to support the consultancy’s clients with compliance and regulatory reporting solutions.
Margin Reform provides SteelEye’s RegTech suite to its financial clients as they address the challenges of the evolving regulatory landscape and especially in the context of further challenges raised from national lockdowns across the EU.
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