DMA Selects SteelEye to Enhance Compliance Control

Compliance technology and data analytics firm SteelEye announced on Tuesday that it has been selected by SCM DMA (Pty) Ltd (DMA), a financial services provider regulated by the Financial Sector Conduct Authority in South Africa, as the compliance services provider.

DMA provides multi-asset execution, prime brokerage, trading technology and portfolio management solutions to institutional clients and their end customers. The Company 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.

"With SteelEye, we can meet multiple regulatory requirements within one platform, utilising the same data set, and get enhanced insight into our operations," said Peter Johnson, Director (Legal & Compliance) at DMA.

"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." 

Matt Smith, CEO of SteelEye, added, "Because of our data-centric approach, clients gain end-to-end visibility of all workflows and processes – feeling confident in their compliance. We are delighted to welcome DMA onboard as we enable them to enhance their compliance control by centralising their reporting, surveillance and best executions on one platform."