Siena vs Clearwater Analytics
Last updated October 2026
Looking for a European alternative to Clearwater Analytics? Here's how Siena compares, on EU hosting, GDPR and what it does.
Our pick for a European buyer: Siena. We weight data residency, GDPR and EU jurisdiction above everything else — that is the constraint this directory exists to solve.
What it is
Regulatory reporting software for MiFID, MiFIR, EMIR, SFTR and IFRS9
Investment accounting, reporting, and analytics platform for institutional investors.
Headquarters
🇬🇧 GB
🇺🇸 US · 2004
EU data residency
Yes, for all customers
not established
DSGVO / GDPR
No
not established
Certifications
No
ISO/IEC 27001:2022, SOC 1, SOC 2, TX-RAMP
Price from
No
No
Free plan
No
No
Open Source
No
No
Integrations
No
IG Prime, Enfusion, FIX, MT4, Bloomberg EMSX +1
Where each one wins
Siena
Clearwater Analytics
Strengths
- +Highly scalable for large, complex portfolios
- +Strong automation reduces manual reconciliation work
- +Comprehensive reporting tools for regulatory needs
- +Open APIs enable flexible downstream integrations
Limitations
- −No public pricing transparency
- −Limited clarity on default data residency or EU hosting options
- −No publicly available DPA or subprocessor list
- −Transfer mechanism to EU not explicitly documented
Data residency & compliance
Siena
Clearwater Analytics
EU data residency
Yes, for all customers
not established
Transfer mechanism
Not required — data stays in the EU
not established
DPA
not established
not established
Sub-processors
not established
not established
Certifications
No
ISO/IEC 27001:2022, SOC 1, SOC 2, TX-RAMP
Features
Siena
Feature breakdown not yet compiled.
Clearwater Analytics
- Data aggregation & reconciliation
- Consolidates investment data across public and private markets, Supports automated reconciliation processes, Handles multi-currency and multi-asset class data
- Accounting & portfolio operations
- Investment accounting and order management, Portfolio management and performance tracking, Supports complex corporate actions
- Reporting & compliance
- Customizable client and regulatory reports, Automated report generation and distribution, Compliance monitoring and regulatory reporting
- Risk & analytics
- Risk analytics and scenario testing, Performance attribution and benchmarking, Historical and stress-testing capabilities
- Integration & data connectivity
- Pre-built integrations with market data providers, Open APIs for downstream systems, Connectivity to trading platforms and EMS