Schroders deploys SteelEye for MiFID compliance

Schroders Investment Management has selected SteelEye for compliance technology and data analytics.

It began deploying SteelEye solutions in July to provide clients with full visibility of their entire MiFID II transaction reporting workflow, including automated tools to manage any over or under-reporting, as well as data validation errors.

SteelEye provides MiFIR eligibility checks, analytics on rejection handling from both the Approved Reporting Mechanism (ARM) and National Competent Authority (NCA), the ability to edit transactions directly within the platform, and a full audit trail of all activity.

“The SteelEye implementation has helped us to improve the level of control and accuracy we have around our MIFID II transaction reporting,” said Keith Frimpong, global head of operations change at Schroders.

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