Shadow Financial Systems Case Study Featured in Celent’s Latest Straight Through Processing (STP) Market Overview
– Report Highlights Industry Leading Broker-Dealer’s Success with ShadowSuite Global Securities Transaction System –
EDISON, N.J. (September 26, 2005) Shadow Financial Systems, developers of the ShadowSuite global securities processing system, today announced that a case study featuring the company’s ShadowSuite system is included in Celent’s latest Straight Through Processing (STP) market overview, “STP and the Broker-Dealer.”
Celent is a global research and consulting firm focused on the application of information technology in the global financial services industry. As the financial industry seeks to further reduce the trading cycle, an increasing number of STP solutions are entering the market that are designed to automate the end-to-end processing of transactions for all financial instruments from initiation to settlement. These solutions streamline back office activities, reduce failures, and lower risks and costs per transaction. The featured case study included in the report, “A Large U.S. Broker-Dealer and Shadow Financial Systems’ ShadowSuite,” details the situation faced earlier this year by a leading broker-dealer – the need for an automated system that allowed for multi-currency processing – and the benefits the organization has experienced since implementation of ShadowSuite.
“As investors look for new opportunities to expand their portfolios and gain higher returns, increasing cross-border investment activity has become a major driver to STP adoption,” stated David Easthope, an analyst in Celent’s Securities and Investments practice and author of the report. “Solutions such as ShadowSuite that work in tandem with legacy systems to create a single trade workflow and enable more complete STP are revolutionizing today’s market as well as the future of securities transaction processing.”
Among the many reasons the broker-dealer selected ShadowSuite, one of the foremost reasons focused on the system’s open application programming interface (APIs), which allowed for quick integration with the organization’s existing legacy systems. ShadowSuite also enables the creation of consolidated client account views via a Web-based platform that allows data files to be translated in the correct currency terms and integrated into customer statements. This correlates directly to what the broker-dealer sees as the overarching, key benefit of ShadowSuite – improved customer service through Web-based account access and real-time information.
Donald Marino, CEO of Shadow Financial Systems, said, “ShadowSuite was designed with legacy systems in mind – such IT investments aren’t likely to disappear anytime soon and yet they don’t entirely meet the needs of the financial industry today. For broker-dealers that are looking to cut costs with every transaction, the scalable ShadowSuite solution provides an automated, real-time platform that utilizes the concept of management by exception, thereby reducing the need for manual intervention. Market reports, such as this latest from Celent, are vital to ensuring we continue to stay ahead of industry trends and provide our customers with the most advanced securities processing systems.”
ShadowSuite operates on the Windows NT platform using Oracle database technology and features real-time interfaces to GSCC, DTCC, FICC, OCC, BoNY and SWIFT. For more information, please contact firstname.lastname@example.org. The full Celent report can be purchased by visiting www.celent.com or by calling (617) 262-3125.
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.
Celent is a global research and consulting firm focused on the application of information technology in the global financial services industry. Celent publishes reports identifying trends and best practices in financial services technology, and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. For more information, please see www.celent.com.
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.