SteelEye, the compliance technology and data analytics firm, has been selected to provide MiFIR and EMIR reporting services to Capital Index, a fully authorised and regulated broker.
Firms had to find a replacement solution for the European Market Infrastructure Regulation (EMIR) and the Markets in Financial Instruments Regulation (MiFIR) reporting when CME Group revealed it was closing the NEX Abide business last year.
Capital Index reviewed a range of different vendor solutions in response to this and selected SteelEye because of its “advanced solutions, unique approach to compliance and hands-on team”.
“Rather than approaching compliance obligations from the perspective of the individual regulations, SteelEye focuses on data and technology first. As we were evaluating our options, this gave us comfort that they would meet all of our needs,” explains Matthew Wright, CEO of Capital Index.
By implementing SteelEye, Capital Index noted it has been able to improve its reporting processes, many of which they did not realise were inefficient or could be improved.
Matt Smith, CEO of SteelEye, says: “When CME announced their intention to close their regulatory reporting business, we knew that many firms would quickly have to find an alternative – which we wanted to facilitate as efficiently and seamlessly as possible. We are delighted to have been selected by Capital Index and to add value to their reporting processes.”
