Long-Standing Broker Dealer Client Migrates From Software Model to ShadowSuite Software as a Service Model
Need to Contract IT Infrastructure with No Loss in Functionality Drove the Decision
PISCATAWAY, NJ (January 26, 2015) – Shadow Financial Systems, developers of the ShadowSuite® global securities processing, reconciliation, clearing, treasury and accounting system, today announced that a long-standing broker dealer client has successfully migrated from the software model to the Software as a Service (“SaaS”) model.
Wanting to contract its IT infrastructure by consolidating co-locations and retiring outdated hardware the client took advantage of Shadow Financial’s SaaS offering of ShadowSuite. The client has been successfully using ShadowSuite for many years for the clearing, settlement and financing of its proprietary trading groups’ activities while hosting ShadowSuite on-premise.
There is no difference in functionality between Shadow Financial’s client-hosted software and its SaaS offering. The client still has 24 by 7 access to its data but no longer has to worry about disaster recovery, hardware, communication lines or database licenses.
Shadow Financial System’s CEO Don Marino commented, “In these tough economic times we were happy to assist this client with realizing its budgetary goal of reducing its fixed-cost investment in technology and operational infrastructure by switching from ShadowSuite’s on-premise installed software to SaaS.”
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, UBS, and Raymond James & Associates. More information can be accessed at www.shadowfinancial.com.