PISCATAWAY, NJ--(Marketwire - Jan 9, 2012) - Shadow Financial Systems, developers of solutions for global securities processing, reconciliation, clearing, treasury and accounting, today announced details of its Universal Trade Capture (UTC) capability that provides broker/dealer clients with one validation and reporting procedure for the entire trade capture process. This new feature enables back office operations to accept or reject trade confirmations on a near-real time basis, helps to eliminate risk and exposure, and accelerates the reconciliation process. Consistent with the company's mission to meet the industry's latest requirements, Shadow Financial Systems is one of the first-to-market vendors in the industry to have developed UTC functionality.
The UTC application is designed to standardize, streamline, consolidate and modernize the National Securities Clearing Corporation (NSCC) trade capture process, replacing current equity trade capture applications with one central, enhanced validation and reporting process. As it allows for almost instantaneous reporting as trades are executed, UTC is a significant improvement over the older process, which only allows for the reporting of trades executed on a time-slice basis throughout the day.
Companies implementing Shadow Financial's UTC application can benefit from minimized risk and exposure and an accelerated reconciliation process. UTC will be included in Shadow Financial's ShadowSuite, which offers full multi-currency post-trade processing and accounting. Moreover, ShadowSuite will continue to support time-sliced methodology indefinitely, allowing companies to adopt and implement UTC on their own timelines.
"As a market leader, Shadow Financial Systems is committed to providing our clients with the latest trade process solutions," said Donald Marino, CEO of Shadow Financial Systems. "With ShadowSuite's exception based real-time trade comparison and timely reporting of trades from UTC, our customers' reconciliation departments will benefit from a more efficient and timely process, which will lead to minimizing settlement risk and exposure."
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 Arca, National Financial Services LLC, a Fidelity Investments Company, Newedge USA, UBS, and Raymond James & Associates. More information can be accessed at www.shadowfinancial.com.