Interdealer Broker Expands Use of Shadow Financial Systems’ ShadowSuite to Include U.S. Treasuries Functionality
Solution Allows Client to Further Consolidate its Broker Businesses
PISCATAWAY, NJ (November 17, 2014) – Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting system, today announced that a current interdealer broker client has successfully expanded the use of ShadowSuite to clear its U.S. Treasuries business.
The client has been successfully using ShadowSuite for the clearing of its mortgage-back securities and corporate bonds and selected U.S. Treasuries as the next product to migrate onto ShadowSuite. This allowed the client to retire another legacy vendor solution and stay true to its goal of setting the standard for its segment of the industry.
ShadowSuite’s U.S Treasuries functionality interacts in real-time with FICC and both JPM Chase and BNY Mellon. ShadowSuite is an innovative middle and back office solution that improves processing efficiency because it does during the day, via messaging, what its legacy competitors do in their “overnight batch cycle”.
Shadow Financial System’s CEO Don Marino commented, “We are delighted that a current client continues its path towards using ShadowSuite as its enterprise-wide post trade clearing solution. This client has realized significant cost savings and streamlined its post trade process by retiring numerous legacy in-house systems and migrating off of multiple legacy vendor solutions.”
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.