Shadow Financial Systems Announces Significant Functionality Enhancements for Repo Processing and Settlement
Revolutionary Repo Solution Provides True Front-to-Back Office Transaction Processing; Enables Users to Modify Repo Throughout Its Lifecycle
| Source: Shadow Financial Systems
EDISON, NJ--(Marketwire - December 7, 2009) - Shadow Financial Systems, developers of the
ShadowSuite® global securities processing, reconciliation, clearing,
treasury and accounting system, today announced significant enhancements to
its repo functionality. Available as a standalone module or fully
integrated with the ShadowSuite enterprise system, this new functionality
provides organizations a complete front-to-back office solution that
provides great efficiency while allowing users the ability to perform
mid-life events, such as, modifying financing rates, collateral prices or
applying manual interest adjustments on a daily basis throughout the
transaction life cycle.
Organizations that have been grappling with increased volume and manual
trade processing practices can reduce operational risk and increase
efficiencies through fully automated repo transactions. ShadowSuite's new
features deliver maximum flexibility by enabling users the ability to
configure the system as deemed appropriate to fit their business model.
"Historically, there has been a significant gap between the dealing desk
and the back office caused by the inability or difficulty of integrating
the current repo dealing systems with the back office to automate the
settlement and reconciliation process. Our approach of tightly coupling our
repo dealing system to our core settlement and bookkeeping platform allows
for very efficient management of collateral and significantly reduces
errors and fails," said Donald Marino, CEO of Shadow Financial Systems.
"Thanks to our new product enhancements, for the very first time,
organizations have the ability to book a deal as dealt, track the
comparison and netting status and instruct settlement without any manual
intervention. Settlements are automatically booked updating collateral in
real-time."
One of the biggest advantages of Shadow Financial Systems' comprehensive
repo functionality is the ability to process repos as dealt rather than
having to break up the trade booking individual repos to meet settlement
restrictions. This automated functionality also enables the finance desk to
more efficiently track and understand repo trade entry and have a
consolidated view of their financing requirements at any given point in
time. ShadowSuite's new functionality also handles front and back leg
settlement, corporate action activity, and the ability to apply a rule
based fee schedule per transaction, all while reducing operational risk.
Designed to support the multi-currency requirements of global markets,
ShadowSuite's repo capability is available in any currency or bond, any
time or anywhere.
About ShadowSuite®
Shadow Financial's global securities clearing system, ShadowSuite®, is a
highly scalable on-premise installed software solution for post-trade
processing, reconciliation, clearing, settlement, treasury and accounting.
ShadowSuite handles all combinations of currencies, financial instruments
and transaction types on a real-time, exception basis. More information
about ShadowSuite can be accessed at www.shadowfinancial.com
About Shadow Financial Systems
Founded in 1997 by industry experts, 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 Euronext, National Financial Services, Raymond James &
Associates, MF Global, Newedge USA, and Belzberg Technologies.
www.shadowfinancial.com