ShadowSuite electronically consumes execution records, regardless of currency or volume, with the option to enrich the execution with fees and commissions structured specifically for the options markets through ShadowSuite’s user configurable fees and commission engine. Users can net, allocate or flip executions, where required.
ShadowSuite performs real-time trade reconciliations with the OCC or at your custodial bank using SWIFT or custodial bank proprietary messaging for international options and at surrogates like prime brokers automatically based on user defined comparison thresholds. ShadowSuite will also confirm or affirm executions via DTCC. ShadowSuite’s real-time exceptions based trade reconciliation functionality allows exceptions to be addressed on T. Users do not have to wait for the overnight batch-cycle to run.
ShadowSuite processes corporate actions for any option in the world.
ShadowSuite performs real-time management of the receipt and delivery and fail of receipt and delivery of options at the OCC and at your custodial bank using SWIFT or custodial bank proprietary messaging for international options. ShadowSuite supports expiration and assignment as well as non-standard settlements.
ShadowSuite performs real-time management of currency balances by banking location with excess/deficit projections. ShadowSuite functionality includes a comprehensive wire system with user defined rules based approval process able to instruct both Fed and SWIFT wires.
Firm and Client Management:
ShadowSuite has the full firm and client experience. Its comprehensive account master contains all firm and client static data, standard settlement instructions data, cost basis and 1099 information. ShadowSuite produces confirms and consolidated statements with all positions and financing, regardless of asset class or currency along with margin and seg information. ShadowSuite also has all the regulatory data for reporting and all the interfaces to DTCC’s suite of products-OASYS, CTM, TradeSuite and ALERT.
ShadowSuite has at its core a multi-currency general ledger that will provide a separate general ledger for each currency where there is activity along with a consolidated general ledger in the reporting currency of the firm or its client. These general ledgers are updated in real-time message-to-message.
Audit and Control:
Because ShadowSuite is a real-time system, it can update your firm’s risk, compliance and credit groups throughout the current day and not just once at the beginning of day. ShadowSuite also maintains a full audit trail of all activity to address any needs of your audit department or regulatory body.