Another Interdealer Broker Takes Advantage of Shadow Financial Systems’ ShadowSuite Solution
Solution Allows Broker to Independently Transact Its Electronic Business
PISCATAWAY, NJ (July 18, 2016) Shadow Financial Systems, developers of the ShadowSuite® the premier real-time, exceptions based solution for middle and back-office post-trade processing, reconciliation, clearance, settlement, treasury and accounting, today announced that an interdealer broker has gone live with ShadowSuite’s Software as a Service (“SaaS”) model to clear its electronic U.S. Treasury bond business.
Looking to make the transition quickly the firm took advantage of ShadowSuite’s SaaS offering which is the only one in the market using cost-effective 21st Century technology. The offering includes all hardware, communications lines and database licenses in both the production and disaster recovery sites.
ShadowSuite’s U.S. Treasury functionality interacts in real-time with FICC and BNY Mellon, JP Morgan Chase and BMO Harris Bank. ShadowSuite is real-time exceptions based post-trade processing that improves processing efficiency because it does during the current day, message-to-message, what its competitor’s legacy systems do in their “overnight batch cycle”.
“ShadowSuite’s cost-effective SaaS solution offers the competitive advantage and flexibility that our clients have come to rely on,” stated Shadow Financial Systems’ CEO Donald Marino. “We are delighted to have another interdealer broker in production on ShadowSuite.”
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 SaaS platform for firms that trade securities. Among the Company’s clients are NYSE Arca, National Financial Services LLC, a Fidelity Investments Company, Société Générale New York Branch, and Raymond James and Associates. More information can be accessed at www.shadowfinancial.com.