EDISON, N.J. (September 26, 2005) -- Shadow Financial Services Corp., developers of the ShadoSuiteâ¢ global securities processing system, today announced that a case study featuring the companyâs ShadoSuite system is included in Celentâs latest Straight Through Processing (STP) market overview, "STP and the Broker-Dealer."
Celent is a global research and consulting firm focused on the application of information technology in the global financial services industry. As the financial industry seeks to further reduce the trading cycle, an increasing number of STP solutions are entering the market that are designed to automate the end-to-end processing of transactions for all financial instruments from initiation to settlement. These solutions streamline back office activities, reduce failures, and lower risks and costs per transaction. The featured case study included in the report, "A Large U.S. Broker-Dealer and Shadow Financialâs ShadoSuite," details the situation faced earlier this year by a leading broker-dealer â the need for an automated system that allowed for multi-currency processing â and the benefits the organization has experienced since implementation of ShadoSuite.
"As investors look for new opportunities to expand their portfolios and gain higher returns, increasing cross-border investment activity has become a major driver to STP adoption," stated David Easthope, an analyst in Celentâs Securities and Investments practice and author of the report. "Solutions such as ShadoSuite that work in tandem with legacy systems to create a single trade workflow and enable more complete STP are revolutionizing todayâs market as well as the future of securities transaction processing."
Among the many reasons the broker-dealer selected ShadoSuite, one of the foremost reasons focused on the systemâs open application programming interface (APIs), which allowed for quick integration with the organizationâs existing legacy systems. ShadoSuite also enables the creation of consolidated client account views via a Web-based platform that allows data files to be translated in the correct currency terms and integrated into customer statements. This correlates directly to what the broker-dealer sees as the overarching, key benefit of ShadoSuite â improved customer service through Web-based account access and real-time information.
Donald Marino, CEO of Shadow Financial Services, said, "ShadoSuite was designed with legacy systems in mind â such IT investments arenât likely to disappear anytime soon and yet they donât entirely meet the needs of the financial industry today. For broker-dealers that are looking to cut costs with every transaction, the scalable ShadoSuite solution provides an automated, real-time platform that utilizes the concept of management by exception, thereby reducing the need for manual intervention. Market reports, such as this latest from Celent, are vital to ensuring we continue to stay ahead of industry trends and provide our customers with the most advanced securities processing systems."