Gold-i, a trading systems integration specialist for the financial services ‎industry, has partnered with London-based compliance and data analytics firm SteelEye to integrate its RegTech solutions.

The Fintech firm said “as data flows seamlessly from Gold-i into SteelEye,” this collaboration assures brokers and other financial institutions that their record-keeping, trade reporting, trade reconstruction, and best execution capabilities are both accurate and compliant with MiFID II.

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Gold-i’s clients interested in the solution can integrate their systems with SteelEye in real-time to reduce the time and effort required to transfer data. The technology also provides a data analytics capability that can be leveraged for business benefits.

Gold-i has identified compliance as a huge opportunity in terms of technology investment, as financial services firms are embracing RegTech solutions that can be plugged in instantly into their existing business models.

Unprecedented regulatory burdens

The collaboration combines Gold-i’s global distribution footprint and cross-industry experience with SteelEye’s technology to help clients solve compliance challenges for MiFID II, as well as other international regulatory obligations. The new rules have added record-keeping and reporting burdens to the firms concerned with new regulations, which have been reflected into additional requirements for data storage and transaction reporting.

Launched in 2017, SteelEye has an international footprint with a global presence spanning different countries. This helped the firm to establish a number of key partnerships, including with Baringa & EY, the London Stock Exchange, Verint & Redbox, and several technology and service providers.

Commenting on the news, Gold-i CEO Tom Higgins said: “some brokers have turned their regulatory obligation into an opportunity by leveraging user-friendly technology built for data optimisation. This has enabled them to not only meet their regulatory requirements but also gain new insights into their business activity, improving their decision making and in turn their performance”.

“Firms must realise that compliance is not a one-off process. By treating it less as a box-ticking exercise and more as a long-term strategy, benefits can go way beyond regulatory conformity. With the right tools and technology to make sense of and consolidate data, compliance can become a genuine opportunity to gain business insight and operate more competitively,” added SteelEye CEO Matt Smith.