Shadow Financial Systems Implements Euroclear Interface, EUCLID
PISCATAWAY, NJ (March 22, 2013) — Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting system, today introduced support for Euroclear’s proprietary clearing interface, EUCLID. The mid- and back-office solution looks to expand post-trade processing for global users.
ShadowSuite allows direct interface through EUCLID for reconciliation reporting, clearing securities and processing dividends held in Euroclear accounts. The process is completed in ISO-15022 message formats.
“As part of our continued efforts to increase the versatility of our system, we wanted to provide our non-SWIFT clients with the ability to communicate directly with Euroclear,” said CEO Don Marino. “International clients now have the option of interfacing directly to Euroclear or communicating with Euroclear via SWIFT.”
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. 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, and Raymond James & Associates. For more information about Shadow Financial visit www.shadowfinancial.com.