U.K. Broker Dealer Selects Shadow Financial Systems’ ShadowSuite Software as a Service Solution
PISCATAWAY, NJ (April 9, 2012) – Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting system, today welcomed a U.K. based broker dealer that has gone live with ShadowSuite’s Software as a Service (“SaaS”) model. In this instance, the broker dealer acquired a structured products team that traded multiple asset classes with financing transactions linked to those asset classes traded.
This particular broker dealer needed a multi-currency post trade processing solution that was multi-asset class capable and had tightly integrated financing capabilities. The SaaS model was also a requirement to get to market quickly and to minimize its fixed cost investment in technology and operational infrastructure.
ShadowSuite’s innovative, scalable middle and 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 industry’s first truly multi-currency, multi-asset, multi-financing capable solution which operates in real-time using messaging and does not rely on the traditional “overnight batch cycle” to stay up-to-date. This is another example of how a client can be opportunistic and bring a new business line into production quickly and cost effectively.”
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 any firm trading securities. Among the Company’s clients are NYSE Arca, National Financial Services LLC, a Fidelity Investments Company, Newedge USA, and Raymond James & Associates. More information can be accessed at www.shadowfinancial.com.