Asian Based Financial Institution’s Sub Begins Self-Clearing U.S. Equities Using Shadow Financial Systems’ ShadowSuite Solution
Client Attracted by ShadowSuite’s Cost-Effective Modern Technology
PISCATAWAY, N.J. (March 8, 2015) – Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting solution today took its first Asian backed U.S. broker dealer client self-clearing with ShadowSuite’s Software as a Service (“SaaS”) model.
The parent company will provide its Asian clientele access to the U.S. equity market via this U.S. based broker dealer. The client required a solution that was not only real-time exception based processing but was also using cost-effective 21st Century technology.
ShadowSuite’s asset class coverage was also an important factor since a future goal of the U.S. broker dealer is to expand into U.S. options and U.S. fixed income. ShadowSuite has all of the asset classes fully integrated onto one database ensuring a cost-effective quick to market process once the decision to add these products is made.
“ShadowSuite is meant to be a single enterprise-wide post-trade processing solution. This particular client has started with equities and can easily vertical into options and fixed income with only incremental configuration, testing and training required” added Shadow Financial Systems’ CEO, Donald Marino.
About Shadow Financial Systems
Founded in 1997 by industry professionals, Shadow Financial’s technology provides comprehensive post-trade processing, treasury and accounting functionality on a cost-effective SaaS platform for firms that trade securities. Among the Company’s clients are NYSE Arca, Fidelity Clearing and Custody, a Fidelity Investments Company, Société Générale New York Branch, and Raymond James and Associates. More information can be accessed at www.shadowfinancial.com.