Shadow Financial Services Corp., developers of the ShadoSuite global securities processing system, says that ShadoSuite can now fully process Tri-Party Repos on a real-time basis.
ShadoSuite is a global securities processing system that handles multi-currency trade processing, clearing and accounting for all combinations of currencies, products and types of trades, maintaining every position in its originally traded currency in real-time. ShadoSuite features real-time interfaces to GSCC, DTCC, FICC, OCC, The Bank of New York and SWIFT. This latest functionality directly enables the notification of all tri-party deals to The Bank of New York’s RepoEdge system, eliminating the manual entry of deals into RepoEdge, The Bank of New York’s proprietary collateral management system.
ShadoSuite now features a tri-party allocation screen that allows the viewing and processing of all transactions along with each transaction’s respective collateral allocation. Booked as shell trades, the system automatically handles all of the required collateral postings, including the reversals of positions due to the sweeping of collateral from tri-party repos and back into the client’s clearing box. ShadoSuite’s real-time processing with The Bank of New York allows clients to monitor the entire transaction lifecycle as it occurs.
ShadoSuite manages by exception, and the tri-party interface features exception screens that allow clients to match shell trades with RepoEdge. Reconciliation reports also validate that stock records and accounting are aligned. ShadoSuite’s tri-party functionality has also been fully integrated with the general collateral financing trade (GCF) process to facilitate the time constraints associated with GCF tri-party processing.