Broker Dealer Upgrades to Shadow Financial Systems’ ShadowSuite
Flexible, Multi-Asset Capable Solution Decreases Operational Risks and Costs While Improving Processing Efficiency
PISCATAWAY, N.J. (June 15, 2015) – Shadow Financial Systems, developers of ShadowSuite® the premier real-time, exceptions based solution for middle and back-office post-trade processing, reconciliation, clearance, settlement, treasury and accounting system, today welcomed another broker dealer that has gone live with ShadowSuite. In this instance, the broker dealer began self-clearing its U.S. fixed income and repo activity from a third party clearing firm.
This particular broker dealer provides clearing, settlement and financing services to its proprietary trading groups. Seeking to expand its current fixed income and financing capabilities while controlling costs, the firm turned to Shadow Financial Systems to convert its clearance, settlement and bookkeeping functions from a third party clearing firm to ShadowSuite’s Software-as-a-Service (SaaS) offering. ShadowSuite’s innovative, scalable back-office solution helps firms decrease operational risk and costs while also improving processing efficiency by using the most up-to-date technology solution available in the market today.
Donald Marino, CEO of Shadow Financial Systems, commented, “ShadowSuite is the modern-day alternative to the old guard’s back-office service bureaus. It truly is a real-time exception based post-trading processing solution that speaks message-to-message with the clearing corporations keeping the client up-to-date throughout the current day. With ShadowSuite, the client gained the flexibility of growing into additional asset classes in the future, eliminated manual processes through better integration and improved financial reporting and risk management processes.”
About Shadow Financial Systems
Founded in 1997 by industry professionals, 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 LLC, a Fidelity Investments Company, Société Générale New York Branch and Raymond James & Associates. More information can be accessed at www.shadowfinancial.com.