London, UK, 21 April 2016: Sopra Steria, a European leader in digital transformation, has today announced that it has been selected by the Financial Conduct Authority (FCA) to deliver a new digital regulatory market data processing platform. The exclusive six-year contract will see Sopra Steria supply a complete solution, which ensures investment firms’ trading reporting activity remains compliant.
Based in a major international financial centre, the FCA has a critical role in maintaining the integrity of global capital markets. The platform is a big data solution using cutting‐edge open source application components and hosted on Amazon Web Services (AWS). As part of this, the new market data processing platform will support the FCA’s on-going regulation of firms, as well as encompassing new requirements under the forthcoming EU regulation entitled the ‘Markets in Financial Instruments Directive' (MiFID II). Under MiFID II trading venues and investment firms will be required to submit market data on a wide range of financial instruments to the FCA. In order to meet stringent validation times and deliver value for money by reducing implementation and running costs, the FCA required an innovative offering utilising the latest digital technology.
Read the full release, including information about Sopra Steria's Regulatory Support Service hosted on AWS and the millions of transactions it will handle each day, comments from FCA's Chief Operating Officer and Sopra Steria's CEO plus Managing Director of Sopra Steria Financial Services.
Discover more about Sopra Steria's experience working in the Financial Services sector.