Man Financial Selects Shadow Financial Systems for U.S. Brokerage and International Equities Processing and Clearing
-Reasons Cited Include SWIFT and DTC Capabilities, Flexibility, Scalability and Vendor Responsiveness-
EDISON, N.J. (March 28, 2007) Shadow Financial Systems, developers of the ShadowSuite global securities processing, reconciliation, clearing and accounting system, today announced that Man Financial has selected ShadowSuite to support its global equity businesses.
Man Financial, the brokerage division of Man Group plc, is one of the world’s leading providers of brokerage services with offices in key financial centers. The division provides intermediary and matched principal broking and other related services to a worldwide client base, ranging from financial institutions, asset managers and industrial groups to professional traders and private clients.
Man Securities Inc. Senior Vice President Rich Gill commented, “Shadow Financial Systems was able to provide us with a flexible, scalable, and cost effective solution which will help us support our global equity businesses. Shadow’s ability to support both our SWIFT and DTC settlement requirements, respond to our requests for modifications to functionality and deliver a customized solution within our tight time requirements was impressive and critical factors in our selection of Shadow.”
Don Marino, CEO of Shadow Financial Systems, stated, “I am pleased to welcome Man Financial to our growing list of clients. We are happy to once again show the flexibility and depth of ShadowSuite’s architecture, this time in meeting Man’s unique requirements. As Man continues to leverage market opportunities, Shadow will be there to support any market that they pursue.”
ShadowSuite is a highly scalable on-premise installed software solution for post-trade processing, clearing and accounting, regardless of trading volume, currency combinations, financial instruments and transaction types. ShadowSuite features deep functionality, on-demand data access and delivery and global support. ShadowSuite can be deployed as a fully integrated enterprise solution or as distinct point solutions as required. As a result, ShadowSuite can be rapidly implemented in a wide variety of environments, helping facilitate business process improvements, exception management, and generate operational cost savings.
About Shadow Financial Systems
Founded in 1997 by industry professionals, Shadow Financial Systems’ technology provides comprehensive post trade processing, treasury and accounting functionality on a cost-effective platform for trading organizations. Among the Company’s clients are NYSE Arca, National Financial Services LLC, a Fidelity Investments Company, Raymond James & Associates, MF Global, NYFIX International, and Belzberg Technologies. More information can be found at www.shadowfinancial.com.
About Man Group plc
Man Group plc is a leading global provider of alternative investment products and solutions as well as one of the world’s largest futures brokers. Man Group employs over 4,000 people in 16 countries with key centers in London, Pfaeffikon (Switzerland), Chicago and New York. Man Group plc is listed on the London Stock Exchange (EMG) and is a constituent of the FTSE 100 Index.