DMA implements SteelEye for MiFIR reporting, trade surveillance and best execution
SteelEye, a compliance technology and data analytics firm, has been selected by authorised Financial Services Provider, SCM DMA (DMA) for MiFIR reporting, trade surveillance and best execution.
Regulated by the Financial Sector Conduct Authority in South Africa, DMA provides multi-asset execution, prime brokerage, trading technology and portfolio management solutions to institutional clients and their end customers.
DMA initially set out to gain enhanced control over their MiFID II transaction reporting and selected SteelEye because of the end-to-end visibility and high degree of process automation provided by the MiFIR service.
“We selected SteelEye because we wanted to facilitate MiFIR 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,” says Peter Johnson, Director (Legal & Compliance) at DMA. “With SteelEye, we can meet multiple regulatory requirements within one platform, utilising the same data set, and get enhanced insight into our operations.”
“Because of our data-centric approach, clients gain end-to-end visibility of all workflows and processes – feeling confident in their compliance,” says Matt Smith, CEO of SteelEye. “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”.