Ardent Financial picks SteelEye for MiFID II and MAR compliance
Securities dealer Ardent Financial has selected compliance technology firm SteelEye to support its reporting needs.
Ardent Financial aims to use SteelEye for compliance with the second Markets in Financial Instruments Directive (MiFID II) and Market Abuse Regulation (MAR).
The firm selected SteelEye on the recommendation of an existing client of the vendor.
According to SteelEye, automation was a key aspect for Ardent Financial. Aidan Brady, chief operating officer at Ardent Financial, agrees.
“We took the decision early on to automate as much of our compliance set up as possible.
“SteelEye enables us to do this, reducing the complexity of what can otherwise be an arduous and painful process.”
Brady adds that SteelEye was one of the most “cost-effective” solutions his firm came across. He adds: “Very few other vendors offer the same breadth of regulatory compliance solutions.”
Matt Smith, CEO of SteelEye, says that the information sorted by financial firms has “exploded” over the decade.
“Different data sets spread across multiple platforms and systems makes financial compliance both complex and time consuming.”