Compliance technology and data analytics firm SteelEye, and the London Stock Exchange Group’s regulatory reporting platform UnaVista, have announced a partnership to support financial firms with reporting services as they migrate from CME’s European Trade Repository (TR) and NEX Abide regulatory reporting services, which will close in November 2020.
SteelEye has been a technical router into UnaVista’s Approved Reporting Mechanism (ARM) for MiFIR since 2017. To support market participants migrating from CME, it has now also integrated with UnaVista’s European Trade Repository for EMIR reporting.
“This integration builds on the existing partnership between SteelEye and UnaVista and ensures that financial firms continue to have access to high-quality and cost-efficient regulatory reporting services,” says Matt Smith, CEO of SteelEye. “EMIR reporting has always been an area associated with complexity and cost, issues which this partnership addresses head-on. By integrating with UnaVista’s TR, we are able to provide market participants with an effective, intelligent, yet cost-effective EMIR reporting service.”
Mark Husler, CEO, UnaVista, adds, “Hundreds of firms face the challenge of migrating their reporting processes away from CME, and need to do so quickly. Together with SteelEye, we offer a fast and efficient response to this demand and provide a wealth of other benefits to joint clients.”
The two firms have also developed a data convertor, meaning that firms can continue to use their existing reporting input files. Further, since MiFIR and EMIR reporting is fully integrated, the same data can be used for both reporting requirements.