Launching a cost-effective and straight-forward EMIR compliance service
LONDON, Oct. 8, 2019 /PRNewswire/ -- SteelEye, the compliance technology and data analytics firm, has connected with CME Group's Trade Repository in Europe to deliver EMIR Reporting to its growing customer base.
The service, which forms part of SteelEye's comprehensive RegTech suite, was launched in response to client demand for a reporting solution that reduces the complexity and cost of EMIR compliance. SteelEye does this by fully automating the reporting process and effectively managing breaks and validations, allowing firms to free-up resource and improve their operational efficiency. And since SteelEye is cloud-based, costs are kept to a minimum.
"Over the past 5 years we have seen EMIR Reporting become prohibitively expensive and operationally difficult for firms to manage," says Matt Smith, CEO of SteelEye. "We launched our EMIR Reporting service to address this operational headache and provide firms with a cost-effective alternative. We are excited to work with CME Group to achieve this.*"
By consolidating the data required for EMIR reporting, clients also gain access to a vast array of analytics with SteelEye, including market abuse detection, portfolio analysis and Net-Asset-Value calculations.
"We recognised that EMIR Reporting was a major pain point for our clients and wanted to give them value back from their investment by providing value-add business insights," says Matthew Storey, Head of Client Integration and Support at SteelEye.
"CME Group is pleased to be selected by SteelEye as their first integrated Trade Repository for their EMIR trade reporting service," said Jonathan Thursby, Head of Global Repository Services, CME Group. "Working together with firms like SteelEye to reduce operational complexity and costs will bring clear benefits to our mutual customers."
*SteelEye is an agnostic platform and will look to integrate with other Trade Repositories based on client/market demand.
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About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing, which offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group products and services ensure that businesses around the world can effectively manage risk and achieve growth.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT, Chicago Board of Trade, KCBT and Kansas City Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
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Marketing Director – SteelEye