Shadow Financial Systems stated that another broker dealer has chosen to deploy its ShadowSuite solution for self-clearing U.S. fixed income and repo products.

Shadow Financial Systems’ new customer reportedly offered clearing, settlement and financing services and sought to expand current fixed income and financing capabilities, and at the same time wanted to keep costs in check. The broker dealer then received efficient help from Shadow Financial Systems’ ShadowSuite, a scalable back-office solution that can bring down operational risk and costs while improving processing efficiency by using the most up-to-date technology solution available on the market today.

“ShadowSuite is the industry's first truly multi-currency, multi-asset, real-time clearing platform,” said Donald Marino, CEO at Shadow Financial Systems. “This is an excellent example of how easily ShadowSuite can be managed in-house as our client sought to convert from an established, albeit less flexible solution without missing a beat. With ShadowSuite, they gained flexibility to support additional securities products, eliminate manual processes through better integration and improved their financial reporting and risk management processes.”

Shadow Financial Systems asserted that its ShadowSuite is specifically designed for middle and back-office post-trade multi-currency, multi-asset class and multi-entity securities processing, reconciliation, clearance, settlement, treasury and accounting.

Notable features of the solution include one-stop asset class and transaction coverage, real-time industry interface, .NET (News - Alert) development environment and Oracle relational database, wide range of format types, reporting capabilities, and the option to deploy either on-premises as client-hosted software or delivered via SaaS (News - Alert).

For firms with offices in different time zones, the application is designed for constant user access throughout a 24-hour period, and provides the proper tools to manage close-of-business issues.  

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