Broker Dealer Expands Use of Shadow Financial Systems’ ShadowSuite to Include CMTA Options Functionality
-Solution Allows Broker Dealer to Provide Clients with Expanded Trading Opportunities-
PISCATAWAY, NJ (March 23, 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 CMTA options business.
The client has been using ShadowSuite for a number of years with great success for the processing of its fixed income business and saw the benefits of expanding the use to include its CMTA options business. ShadowSuite’s options capabilities automated functions previously not provided by the former legacy competitor system which allowed the client to offer enhanced investment opportunities to its clients, while saving them time and money.
ShadowSuite’s options functionality interacts in real-time with the OCC. 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’s ability to extend ShadowSuite’s functionality to support the client’s requirements enabled it to deliver a comprehensive real-time middle and back office solution.
“This is another client that recognizes the competitive advantage that our comprehensive trade processing solution can provide,” said Donald Marino, CEO of Shadow Financial Systems. “We are delighted that the client has expanded its use of our solution to include CMTA Options and 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.