ShadowSuite is an Enterprise-Wide or Single Asset Class Point SaaS Solution
ShadowSuite®, utilizing the latest technology, is the premier highly scalable, real-time, exceptions based solution for middle and back-office post-trade processing, reconciliation, clearance, settlement, treasury and accounting. Regardless of currency or volume, ShadowSuite handles all combinations of currencies, asset classes, financing transactions and related functions like fees and commissions, corporate actions, confirms, statements, billing, sub-accounting, cost basis, margin and regulatory reporting.
Highly Scalable, Real-time Middle and Back-Office System
Although ShadowSuite is designed as an enterprise-wide solution, it can also be used as a single asset class point solution. ShadowSuite can be the sole system for trading books and records to be used by operations, treasury and accounting departments. Since ShadowSuite aggregates the entire firm’s activity on one relational database, it serves as the “gold” source of information for risk, compliance, credit and audit groups. The real-time core of ShadowSuite consists of a multi-currency general ledger, stock record and position and cash management components. With every transaction that enters or exits ShadowSuite, each core component is updated in real-time.
ShadowSuite’s Value Added Versus Legacy Systems:
- Developed and Operated on the Most Current Technology Available: ShadowSuite is NOT a legacy system. It is written in C# and runs on the most current hardware being manufactured today. ShadowSuite speaks message-to-message with the clearing corporations and external systems during the current day, T, and does during the current day what legacy systems do during their overnight batch-cycle. ShadowSuite is T+2 and T+1 compliant today.
- All Asset Classes Fully Integrated onto One Relational Database: Regardless of currency or volume, ShadowSuite supports all equity products, options, the plethora of fixed income products, futures, foreign exchange, mutual and money market funds. ShadowSuite also has a user configurable fees and commission engine for trade enrichment. All of the above is fully integrated onto one relational database.
- All Financing Transactions Fully Integrated onto the Same Relational Database: Regardless of currency, volume or collateral type, ShadowSuite supports stock loan, traditional, GCF and tri-party repo, total return swaps, contracts-for-differences and buy sell back along with non-cash collateral management. All of the above is fully integrated onto the same relational database.
- Real-time Industry Interfaces: ShadowSuite speaks in real-time message-to-message with industry utilities such as DTC, NSCC, Fund/SERV, FICC, MBSD, BNY Mellon, JP Morgan Chase, BMO Harris, OCC, Euroclear, SWIFT, and DTCC’s TradeSuite, OASYS, Central Trade Manager and ALERT. Additional interfaces can be added easily by introducing Shadow Financial Systems as your agent and the messaging will be ready for your production date.
- Clients Maintain 24 x 7 Access to Its Data: Users have 24 x 7 access to their firm’s database on ShadowSuite. Unlike legacy systems that kick users out so they can run the overnight batch-cycle, ShadowSuite users maintain 24 x 7 access to their firm’s database. ShadowSuite speaks message-to-message with the clearing corporations and external systems during the current day, T, and does during the current day, T, what legacy systems do during their overnight batch-cycle. ShadowSuite still allows user access to the database while it runs its much smaller end-of-day cycle of truly inter-day items like valuations, unrealized P&L calculations and bond interest accruals.
- On-line Historical Research Capabilities: All ShadowSuite screens have the ability to select a date or a range of dates and refresh to do historical research on the same screens used to do today’s business. ShadowSuite’s reports can be run ad hoc as needed, rather than having to wait for end-of-day processing.
- Stay Current with Industry Initiatives: It is Shadow Financial Systems’ obligation to keep ShadowSuite compliant with industry initiatives. Clients are not asked to fund their share of industry initiative enhancements nor are they introduced to third party solutions to solve industry initiatives. Shadow Financial Systems have funded such recent industry initiatives as options symbology, universal trade capture, obligation warehouse, cost basis reporting, tri-party reform and floating rate notes to name a few.
- SaaS Delivery: ShadowSuite is deployed as SaaS (software as a service). The service includes the production site, a geographically diverse disaster recovery site, and an upgrade test site, all hardware, clearing corporation communication lines, database licenses, an annual disaster recovery failover test and staff to run end-of-day processes.