SteelEye, the compliance technology and data analytics firm, has become an approved LME ISV, passing all conformance tests to offer connectivity directly between LMEselect and SteelEye.

As an approved ISV, SteelEye is connected to LME and can receive clients’ FIX drop copies directly from their LMEselect platforms. The cloud-based connectivity is established using Colt’s On-net service, enabling direct and efficient data transfer.

With several clients already utilising the electronic LME member to member trading system, SteelEye recognised the benefits that becoming an approved LME ISV could bring.

“We are delighted to connect to LME and offer synergies and efficiency gains to our mutual clients,” says Matt Smith, CEO of SteelEye. “Rather than setting up additional data feeds, our clients’ data now flows seamlessly from LMEselect straight into SteelEye.”

LMEselect is the LME’s electronic member to member trading system, accessed by members of the exchange, allowing them to anonymously execute trades with other member firms. Clients of members are also able to access LMEselect through ISVs, such as SteelEye.

SteelEye brings together all data into one place, making it easier for firms to manage multiple regulatory regimes and gain insight into their businesses. Its services help firms to comply with MiFID II, MAR, EMIR, SM&CR, SIFMD, Dodd-Frank and UCITS