Financial Systems Celebrates 20th Anniversary
PISCATAWAY, NJ (September 15, 2017)—Shadow Financial Systems (“Shadow”) was founded in 1997 to address a number of the issues the Founders struggled with in the securities firms they grew up in. First and foremost was to remove legacy technology from middle and back-office operations. Second was to end the reliance on the overnight batch-cycle. And third was to keep the solution current with industry initiatives.
Shadow’s mission statement, as it was at its inception and as it continues to be today, is for ShadowSuite® to be a single enterprise-wide post-trade processing solution fully integrated on one relational database supporting all asset classes, all financing transactions and all related functions regardless of currency, volume or business conducted using the most current technology available.
Twenty years later, having built ShadowSuite organically, the firm has established it as the mid and back-office solution leader in real-time reconciliation, clearance, settlement, treasury and accounting for firms that trade securities.
“ShadowSuite’s use of 21st Century technology and its fully integrated real-time exceptions based functionality provides significant cost savings, modernization and consolidation opportunities to a securities industry that has struggled to maintain revenue and profitability in an era of lesser volume, infrequent volatility and historically low interest rates,” commented CEO Donald Marino. “Securities firms are under constant pressure to reduce their two largest expense categories-headcount and technology infrastructure. ShadowSuite addresses both with respect to post-trade processing.”
“Since its 15-year milestone in 2012, the firm has added new businesses at its existing clients and added several more clients to its roster,” remarked President Joe South. “We thank our dedicated staff and supportive clients for their efforts and assistance. We would not be in the position we are in today without them.”
About Shadow Financial Systems
Founded in 1997 by industry professionals, Shadow Financial Systems’ 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, Raymond James and Associates and Société Générale New York Branch. More information can be accessed at www.shadowfinancial.com.