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December 6, 2009

Shadow Financial Systems Upgrades Repo Processing, Settlement

Available as standalone module or integrated with ShadowSuite enterprise system

By CBR Staff Writer

Shadow Financial Systems, developers of the ShadowSuite global securities processing, reconciliation, clearing, treasury and accounting system, has upgraded its repo functionality. The new functionality is available as a standalone module or integrated with the ShadowSuite enterprise system.

It provides organizations a complete front-to-back office solution while allowing users 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. Moreover, ShadowSuite’s new features deliver flexibility by enabling users the ability to configure the system as deemed appropriate to fit their business model.

Shadow Financial Systems’ repo functionality has 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 track and understand repo trade entry to 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.

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Designed to support the multi-currency requirements of global markets, ShadowSuite handles all combinations of currencies, financial instruments and transaction types on a real-time, exception basis.

Donald Marino, CEO of Shadow Financial Systems, said: “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.

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.”

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