Shadow Financial Systems Announces Availability of Tri-Party Repurchase Agreement Processing
– ShadowSuite Securities Processing System Can Now Process and Manage Tri-Party Repo Agreements from End-to-End –
PONTE VEDRA BEACH, Fla., at the 13th Annual Fixed-Income Securities Operations Conference (November 3, 2005) Shadow Financial Systems, developers of the ShadowSuite global securities processing system, today announced that ShadowSuite can now fully process Tri-Party Repos seamlessly on a real-time basis.
ShadowSuite is a comprehensive global securities processing system that handles multi-currency trade processing, clearing and accounting for all combinations of currencies, products and types of trades, maintaining every position in its originally traded currency in real-time. ShadowSuite features real-time interfaces to GSCC, DTCC, FICC, OCC, The Bank of New York and SWIFT. This latest functionality directly enables the notification of all tri-party deals to The Bank of New York’s RepoEdge system, eliminating the manual entry of deals into RepoEdge, The Bank of New York’s proprietary collateral management system.
Donald Marino, CEO of Shadow Financial Systems, said, “Our flagship product, ShadowSuite, enables our clients to significantly cut clearing costs while also saving time and money with every transaction. By expanding the functionality of ShadowSuite, we are able to further extend this promise to our clients by streamlining the tri-party repo process and providing real-time communication with RepoEdge that enables a higher level of confidence with the settlement process of these transactions.”
ShadowSuite now features a tri-party allocation screen that allows the viewing and processing of all transactions along with each transaction’s respective collateral allocation. Booked as shell trades, the system automatically handles all of the required collateral postings, including the reversals of positions due to the sweeping of collateral from tri-party repos and back into the client’s clearing box. ShadowSuite’s real-time processing with The Bank of New York allows clients to monitor the entire transaction lifecycle as it occurs.
ShadowSuite manages by exception, and the tri-party interface features exception screens that allow clients to match shell trades with RepoEdge. Reconciliation reports also validate that stock records and accounting are aligned. ShadowSuite’s tri-party functionality has also been fully integrated with the general collateral financing trade (GCF) process to facilitate the time constraints associated with GCF tri-party processing.
Shadow Financial Systems is also fully committed to providing its customers with high quality service to satisfy their securities processing needs. From pre-installation to post-installation, Shadow Financial Systems forms long-term partnerships with its customers’ operations personnel and management team to continually maximize the effectiveness and efficiency of ShadowSuite for their ongoing changing needs. For more information about Shadow Financial Systems, please contact firstname.lastname@example.org.
Designed to handle the complex transactions of institutional investors as well as the volume of retail brokerage firms, ShadowSuite is a comprehensive global securities processing system. ShadowSuite handles multi-currency trade processing, clearing and accounting for all combinations of currencies, products and types of trades. Unlike many other systems, ShadowSuite maintains every position in its originally traded currency in real-time.
ShadowSuite operates on the Windows NT platform, using Oracle relational database technologies. It utilizes a three-tier client/server architecture, which provides flexible and scalable infrastructure that can grow as a client’s business expands.
Trades can be entered from one easy-to-use screen with ShadowSuite’s intuitive Windows-based point and click user interface or through the extensive API provided to their clients. ShadowSuite tracks all purchases and sales, deliveries of securities and money through banks, reconciles positions with outside firms, and maintains an integrated general ledger and stock record.
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, Raymond James & Associates, MF Global, NYFIX International, and Belzberg Technologies. More information can be found at www.shadowfinancial.com.