Shadow Financial Systems has implemented Euroclear's clearing interface, EUCLID, to ShadowSuite 9.1, which seeks to boost its post-trade processing users across the world.
ShadowSuite offers direct interface through EUCLID for reconciliation reporting, clearing securities and processing dividends held in Euroclear accounts.
According to the company, the process is completed in ISO-15022 message formats.
EUCLID PC, developed by Euroclear Bank, is a user-friendly and cost-effective software package for low- to medium-volume users that want access to Euroclear Bank services.
Commenting on the adoption of new technology, Shadow Financial CEO Don Marino said, "As part of our continued efforts to increase the versatility of our system, we wanted to provide our non-SWIFT clients with the ability to communicate directly with Euroclear."
"We accomplished this with 9.1, helping to consolidate clearing for users trading internationally while remaining cost effective."
Set up in 1997, Shadow Financial delivers post trade processing, treasury and accounting functionality on a cost-effective platform for trading organizations.