Shadow Financial Systems Announces Significant Functionality Enhancements for Repo Processing and Settlement
-Revolutionary Repo Solution Provides True Front‐to‐Back Office Transaction Processing; Enables Users to Modify Repo throughout its Lifecycle-
EDISON, N.J. (December 7, 2009) – Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting system, today announced significant enhancements to its repo functionality. Available as a standalone module or fully integrated with the ShadowSuite enterprise system, this new functionality provides organizations a complete front–to‐back office solution that provides great efficiency while allowing users the ability to perform mid‐life events, such as, modifying financing rates, collateral prices or applying manual interest adjustments on a daily basis throughout the transaction life cycle.
Organizations that have been grappling with increased volume and manual trade processing practices can reduce operational risk and increase efficiencies through fully automated repo transactions. ShadowSuite’s new features deliver maximum flexibility by enabling users the ability to configure the system as deemed appropriate to fit their business model.
“Historically, there has been a significant gap between the dealing desk and the back office caused by the inability or difficulty of integrating the current repo dealing systems with the back office to automate the settlement and reconciliation process. Our approach of tightly coupling our repo dealing system to our core settlement and bookkeeping platform allows for very efficient management of collateral and significantly reduces errors and fails,” said Donald Marino, CEO of Shadow Financial Systems. “Thanks to our new product enhancements, for the very first time, organizations have the ability to book a deal as dealt, track the comparison and netting status and instruct settlement without any manual intervention. Settlements are automatically booked updating collateral in real‐time.”
One of the biggest advantages of Shadow Financial System’s comprehensive repo functionality is the ability to process repos as dealt rather than having to break up the trade booking individual repos to meet settlement restrictions. This automated functionality also enables the finance desk to more efficiently track and understand repo trade entry and have a consolidated view of their financing requirements at any given point in time. ShadowSuite’s new functionality alsohandles front and back leg settlement, corporate action activity, and the ability to apply a rule based fee schedule per transaction, all while reducing operational risk.
Designed to support the multi‐currency requirements of global markets, ShadowSuite’s repo capability is available in any currency or bond, any time or anywhere.
Shadow Financial’s global securities clearing system, ShadowSuite®, is a highly scalable on‐premise installed software solution for post‐trade processing, reconciliation, clearing, settlement, treasury and accounting. ShadowSuite handles all combinations of currencies, financial instruments and transaction types on a real‐time, exception basis. More information about ShadowSuite can be accessed at www.shadowfinancial.com
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 platform for trading organizations. Among the Company’s clients are NYSE Euronext, National Financial Services LLC, a Fidelity Investments Company, Raymond James & Associates, MF Global, Newedge USA, and Belzberg Technologies. More information can be found at www.shadowfinancial.com.