Shadow Financial Systems Expands ShadowSuite…

Shadow Financial Systems Expands ShadowSuite Product Offering with Unique Bank of New York Interface

 

– BoNY Interface Provides Clients with Direct Link to Largest U.S. Securities Clearance Agent –

 

EDISON, N.J. (September 13, 2005) Shadow Financial Systems, developers of the ShadowSuite global securities processing system, today announced the release of the company’s tailored interface that provides a direct link to The Bank of New York (BoNY). Shadow Financial clients that utilize BoNY execution and clearing services will now have real-time information on the day’s trades in one easy-to-use location.

 

Through the BoNY Securities Group, execution services are provided for 3,500 institutional investors in over 80 markets executing trades for 630 million shares each day. As the largest U.S. securities clearing agent, approximately 50 percent of U.S. Government securities are cleared through the BoNY Securities Group. The BoNY interface has complete interaction capabilities with the FICC netting file process, which captures and queues up all FICC obligations while making them ready for settlement.

 

Donald Marino, CEO of Shadow Financial Systems, said, “Our interface with BoNY is a key addition to the ShadowSuite system. Clients that utilize the services of The Bank of New York now have one source for real-time information about trades, clearance status and the day’s settlement processing. This interface is one more step in our commitment of providing our clients with the most advanced securities processing systems.”

 

Shadow’s interface with BoNY links to their Government Securities Clearing Exchange (GSCX) system using the bank’s proprietary SWIFT (Society for Worldwide Interbank Financial Telecommunication) message formats for the transmission of trade-related messages for settlement via MQ Series. Some of the unique features of this interface include a statistics window that allows users to acquire an overview of the day’s settlement processing, a primary processing screen that provides a one-stop display of all clearance status messages and includes a filter feature that allows for quick and easy viewing of desired items. In addition, all of the items on the primary processing screen are time-stamped with a continuously updated timestamp based on any status changes received for a message, such as the date and time a trade message was cleared.

 

Shadow’s customized interface utilizes color-coding to alert users to items that are potential problems, and the actual SWIFT formatted messages can also be retrieved and analyzed for additional problem solving. The interface also features built-in links to other windows that allows for certain items to be isolated based on status, such as canceled trades and rejected trades.

 

ShadowSuite reduces a firm’s cost-per-trade and provides real-time efficient access to transactions and positions. ShadowSuite features real-time interfaces to GSCC, DTCC, FICC, OCC, BoNY and SWIFT. For more information, please contact sales@shadowfinancial.com.

 

About ShadowSuite

Designed to handle the complex transactions of institutional investors as well as the volume of retail brokerage firms, ShadowSuite is a comprehensive global securities processing system. ShadowSuite handles multi-currency trade processing, clearing and accounting for all combinations of currencies, products and types of trades. Unlike many other systems, ShadowSuite maintains every position in its originally traded currency in real-time.

 

ShadowSuite operates on the Windows NT platform, using Oracle relational database technologies. It utilizes a three-tier client/server architecture, which provides flexible and scalable infrastructure that can grow as a client’s business expands.

 

Trades can be entered from one easy-to-use screen with ShadowSuite’s intuitive Windows-based point and click user interface or through the extensive API provided to their clients. ShadowSuite tracks all purchases and sales, deliveries of securities and money through banks, reconciles positions with outside firms, and maintains an integrated general ledger and stock record.

 

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, Raymond James & Associates, MF Global, NYFIX International, and Belzberg Technologies. More information can be found at www.shadowfinancial.com.

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