Shadow Financial Systems Releases Obligation Warehouse Functionality
Company’s Obligation Warehouse (OW) Functionality Provides Clients with Real-Time Bilateral Matching of Ex-Clearing and Failed Obligations
PISCATAWAY, NJ (May 3, 2013) – Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting system, today announced details of its Obligation Warehouse (OW) capability that provides broker/dealer clients with bilateral matching of ex-clearing and failed obligation in real-time. This new feature enables NSCC members to submit their ex-clearing trades to OW for real-time matching by the contra-party.
The OW service promotes transparency by providing a complete view of virtually all open obligations traded in the U.S. marketplace for equities, corporate, municipals, and unit investment trust securities. It provides one common repository for failed obligations.
Companies implementing Shadow Financial’s OW functionality can mitigate counterparty risk and reduce net capital charges by reconfirming and re-pricing failed open obligations to current market value on a more frequent basis.
“Shadow Financial Systems is committed to providing its clients with the most up-to-date trade processing solutions,” said Donald Marino, CEO of Shadow Financial Systems. “Shadow Financial Systems integrates all industry changes directly into ShadowSuite’s functionality to ensure a cost effective and industry compliant solution for its clients.”
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