NYFIX Selects Shadow Financial’s ShadowSuite Back-Office Solution to Complement Euro Millennium
NEW YORK & LONDON (November 14, 2007) NYFIX Inc. (Pink Sheets: NYFX) a trusted provider of innovative solutions that optimise trading efficiency, announced today that its subsidiary, NYFIX International Limited, has selected ShadowSuite as the back-office solution for Euro Millennium. Euro Millennium is a neutral dark pool of liquidity providing rapid, anonymous matching for equity trading in European markets and is scheduled for launch in Q1 2008.
Shadow Financial Systems’ ShadowSuite is a highly scalable, installed software solution for mid-office, back-office, treasury and accounting, that provides multi-currency, real-time exception-based handling of all asset classes and transaction types. NYFIX will leverage ShadowSuite’s deep functionality, on-demand data access and delivery, and global support.
“We selected Shadow Financial to help us deploy an efficient and flexible back-office service that will offer our clients a fully automated STP solution,” stated Paul Kelly, Head of Sales and Client Operations and Director of NYFIX International Limited.
“We welcome NYFIX as they join our growing list of clients who are realizing the many benefits of running their back-office on ShadowSuite,” said Don Marino, CEO of Shadow Financial. “Our ability to seamlessly process trades cross markets and currencies and to scale to millions of trades per day fits very nicely with NYFIX’s strategy for Euro Millennium.”
A pioneer in electronic trading solutions, NYFIX® continues to transform trading through innovation. The NYFIX MarketplaceTM is a global community of trading counterparties utilising innovative services that optimise the business of trading. NYFIX Millennium provides the Marketplace community with new methods of accessing liquidity. NYFIX also provides value added information and analytic services and powerful tools for measuring execution quality. A trusted business partner to buy-side and sell-side alike, NYFIX enables ultra-low touch, low impact market access and end-to-end transaction processing. NYFIX International Limited is the operator of Euro Millennium, it is a subsidiary of NYFIX, Inc. and is authorised and regulated by the UK Financial Services Authority, FRN 400884. Please visit http://www.nyfix.com for more information about NYFIX.
ShadowSuite is a highly scalable on-premise installed software solution for post-trade processing, clearing, settlement, treasury and accounting, regardless of trading volume, currency combinations, financial instruments and transaction types. ShadowSuite features deep functionality, on-demand data access and delivery and global support. ShadowSuite can be deployed as a fully integrated enterprise solution or as distinct point solutions as required. As a result, ShadowSuite can be rapidly implemented in a wide variety of environments, helping facilitate business process improvements, exception management, and generate operational cost savings.
About Shadow Financial Systems
Founded in 1997 by industry experts, Shadow Financial’s technology provides comprehensive post trade processing, treasury and accounting functionality on a cost-effective platform for trading organizations. Among the Company’s clients are NYSE Arca, National Financial Services, Raymond James & Associates, Man Financial, and Belzberg Technologies.