Shadow Financial Expands DTCC Partnership with Interfaces to DTCC ALERT and DTCC CTM
PISCATAWAY, NJ (April 22, 2013) – Shadow Financial Systems has extended the company’s existing partnership with DTCC to include new interfaces to ALERTSM, the industry’s largest and most compliant web-based global database for the maintenance and communication of account and standing settlement instructions (SSI), and Central Trade ManagerSM (CTM), a central matching platform for cross-border and non-US domestic equity, fixed income, exchange-traded derivative and contract-for-difference transactions. The ALERT link is now live, with the interface to CTM to be developed by year end.
With these new interfaces, users of Shadow Financial Systems’ mid- and back-office solution, ShadowSuite®, will be able to automatically take advantage of central matching and settlement instruction enrichment directly from their ShadowSuite solution. ShadowSuite already offers links to OASYSSM and TradeSuite IDSM for the matching and confirmation of US domestic trades.
Tim Keady, DTCC’s executive director of sales and solution delivery, stated, “We are pleased to be extending our partnership with Shadow Financial Systems. With the new links to ALERT and CTM, in addition to our existing OASYS and TradeSuite ID interfaces, we will offer the broker/dealer community a single solution to match and enrich trades anywhere in the world directly from ShadowSuite. This will be a great efficiency gain for the sell side.”
“Working with DTCC has allowed our engineers to understand how the platforms should interact,” said Shadow Financial Systems’ CEO Don Marino. “The seamless integration of trade matching and confirmation processes steps up the efficiencies in the middle and back office reducing fails and cutting our clients’ costs.”
About Shadow Financial
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. The Company’s primary offerings in addition to ShadowSuite® are ShadowMargin™ and ShadowConnect™. Among the Company’s clients are NYSE Arca, National Financial Services LLC, a Fidelity Investments Company, Newedge USA, UBS, and Raymond James & Associates. For more information about Shadow Financial visit www.shadowfinancial.com.