The solution integrated with the ShadowSuite enterprise system, automates the settlement and reconciliation process for broker/dealers acting as settlement agents for affiliates and their clients across markets.
Shadow Financial claimed that its automated agency settlement solution mitigates risks, streamlines processes, eliminates spreadsheets and consolidates multiple systems into a single application for efficiency, better resource allocation and consolidated data.
Donald Marino, CEO of Shadow Financial Systems, said: “ShadowSuite customers can completely automate the process from trade entry to settlement, including end-of-the day reconciliation, confirmation and client statements.
“As an example, ShadowSuite’s agency settlement solution can accept settlement instructions from a foreign affiliate for DTC or Fed-eligible securities via SWIFT and flip them to the appropriate destination. When settlement is made, ShadowSuite will confirm it back to the affiliate via SWIFT all without any manual intervention.”
Shadow Financial, a New Jersey -based developer of the ShadowSuite global securities processing, reconciliation, clearing, treasury and accounting system, offers post trade processing, treasury and accounting functionality for trading organizations.
