Interdealer Broker Chooses Shadow Financial Systems’ ShadowSuite For Mortgage-Backed Securities
PISCATAWAY, NJ (January 16, 2013) – An interdealer broker has implemented Shadow Financial Systems’ ShadowSuite®, a post-trade processing software, to clear mortgage-backed securities.
The broker uses a combination of clearing solutions, both internal and vendor products, to support its multiple lines of business. However, the broker looked to remove restraints imposed by the legacy solution handling mortgage-backed securities and began analyzing the market for a product that provided more functionality.
Impressed with the modern technology of ShadowSuite and its capabilities, the broker chose ShadowSuite. The move meant reducing the risk of operational oversight while reforming and improving processing performance. The broker’s goal is to set the standard for its segment of the industry, and it needed a solution that could keep up. ShadowSuite provides it with the efficient multi-asset capabilities it was looking for to allow the broker to clear additional products in the future.
Shadow Financial System’s CEO Don Marino said, “Adding this market leading broker to our portfolio of clients has allowed us to extend our presence into a new segment of the market. We’re pleased to be experiencing continued expansion in a difficult market.” The migration completed late last year.
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.