Broker Dealer Upgrades to Shadow Financial Systems’ ShadowSuite
-Flexible, Scalable Solution Decreases Operational Risks and Costs While Improving Processing Efficiency-
EDISON, N.J. (June 28, 2010) – Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting system, today welcomed another broker dealer that has gone live with ShadowSuite. In this instance, the broker dealer replaced its current fixed income vendor solution with ShadowSuite for self-clearing of its U.S. fixed income and repo products.
This particular broker dealer provides clearing, settlement and financing services to its proprietary trading groups. Seeking to expand its current fixed income and financing capabilities while controlling costs, the firm turned to Shadow Financial Systems to convert its clearance, settlement and bookkeeping functions from a competing vendor service bureau solution to ShadowSuite’s on-premise installed solution. ShadowSuite’s innovative, scalable back-office solution helps firms decrease operational risk and costs while also improving processing efficiency by using the most up-to-date technology solution available on the market today.
Donald Marino, CEO of Shadow Financial Systems, commented, “ShadowSuite is the industry’s first truly multi-currency, multi-asset, real-time clearing platform. This is an excellent example of how easily ShadowSuite can be managed in-house as our client sought to convert from an established, albeit less flexible service bureau solution without missing a beat. With ShadowSuite, they gained flexibility to support additional securities products, eliminate manual processes through better integration and improved their financial reporting and risk management processes.”
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 Arca, National Financial Services LLC, a Fidelity Investments Company, Newedge USA, MF Global, and Raymond James & Associates. More information can be accessed at www.shadowfinancial.com.