Broker Dealer Expands Use of Shadow Financial Systems’ ShadowSuite to Include International Equities Functionality
PISCATAWAY, NJ (June 8, 2012) – Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting system, today announced that a current broker dealer client has successfully expanded the use of ShadowSuite to process its international equities business.
The client has been successfully using ShadowSuite for the processing of its fixed income and options businesses and chose to expand the use to include its international equities business. This allowed the client to further integrate its post trade processing onto a single platform.
ShadowSuite’s international equities functionality processes multi-market securities natively and handles the nuances of each respective market. Core to ShadowSuite is a multi-currency general ledger that will provide the client with a general ledger for each currency traded in along with a consolidated general ledger in the client’s reporting currency. ShadowSuite is SWIFT compliant or can message and reconcile with any custodial bank providing consolidated books and records for all activity.
Donald Marino, CEO of Shadow Financial Systems, commented “ShadowSuite is the industry’s only real-time, multi-currency, multi-asset post trade processing platform. This is a great example of a client appreciating the power of processing multiple asset classes on our fully integrated platform. We look forward to working together in this new capacity.”
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.