Shadow Financial Systems’ Post-Trade Processing Solution ShadowSuite is T+2 and T+1 Ready
It Speaks Message-to-Message During the Current Day, T
PISCATAWAY, N.J. (September 21, 2015) – The September 16th letter from the Securities and Exchange Commission Chairman Mary Jo White to the Securities Industry and Financial Markets Association (SIFMA) and Investment Company Institute (ICI) clearly shows a commitment to working with industry participants on their two-day settlement cycle (T+2) initiative to meet the proposed goal of third quarter 2017. This support was acknowledged by the participants at SIFMA’s T+2 Symposium: The Road to a Shortened Settlement Cycle held in New York the next day.
Shadow Financial Systems’ post-trade processing solution ShadowSuite is T+2 and T+1 ready. ShadowSuite is not a legacy system. Utilizing the latest technology, 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 its legacy competitors’ systems do during their overnight batch-cycle. And unlike competitor legacy systems that kick users out while running the overnight batch-cycle, ShadowSuite 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 and bond interest accruals. ShadowSuite users maintain 24 x 7 access to their firm’s database and can utilize its on-line historical research capabilities.
Donald Marino, CEO of Shadow Financial Systems, commented, “ShadowSuite is the industry’s modern-day alternative to the old guard back-office service bureaus. It truly is a cost effective real-time post-trade processing solution that speaks message-to-message with the clearing corporations keeping the client up-to-date throughout the current day. Its exceptions based real-time trade comparison allows client reconciliation departments to go home on trade date clean realizing the T+2 initiative goals of minimizing settlement risk and exposure.”
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, Société Générale New York Branch and Raymond James & Associates. More information can be found at www.shadowfinancial.com.