Waters Rankings 2022: Best transaction-cost analysis (TCA) system provider—SteelEye

Overview

Recent regulations have introduced stricter rules, heightening the importance of transaction-cost analysis (TCA) to demonstrate transparency and best execution, and increasing the complexity and cost of compliance. SteelEye’s asset-class agnostic solution enables firms to analyze their trading activity and demonstrate that best execution has been achieved.

The Solution

SteelEye captures and normalizes client data from a range of sources, automatically enriching it with external tick and reference data. With all data under a single lens, trading activity is analyzed against a range of reference points offering standardized metrics and comparisons against industry benchmarks. Clients are able to gain insights into the performance of any execution.

Secret Sauce

Through SteelEye’s data-driven approach, all client data is unified within a single platform, ensuring maximum efficiency and accuracy and delivering a golden source of information that offers benefits beyond compliance. The ability to quickly access and analyze data is important to achieve a competitive advantage. With SteelEye, firms are able to get instant visibility of their data and interaction with it. 

Recent Milestones

• International expansion into North America and the appointment of regtech veteran Brian Lynch as the head of SteelEye’s North American operations 
• Expansion of SteelEye’s development offices in India and Portugal 
• 88% year-on-year growth overall in 2021

Future Objectives

• SteelEye plans to continue building out its North American presence following its office opening in New York in October 2021. 
• The company will also explore opportunities to expand into the Asia-Pacific region. 
• SteelEye will continue to strengthen its product portfolio to meet changing demands and new regulations.