18 August 2017
visit www.avoka.com

Belzberg selects ShadoSuite for back office clearing

23 May 2007  |  1497 views  |  0 Source: Shadow Financial Services, Belzberg Technologies

Belzberg Technologies Inc. (TSX - BLZ), a provider of technology-based equity and options trading services, announced today that it has selected ShadoSuite as the back office clearing solution for the clearing business of Electronic Brokerage Systems, LLC, its wholly owned U.S. broker-dealer.

"Our decision to expand our offering to include full clearing services for our clients represents an important revenue and growth opportunity that our company is now well positioned to execute on," stated Sid Belzberg, Chief Executive Officer of Belzberg Technologies. "The ability to offer our customers full clearing services with state-of-the-art technology is a logical and important extension of our business that, in conjunction with our current products and services, positions the company strategically for a long-term, sustainable growth."

He continued, "ShadoSuite will integrate seamlessly into our existing operation. Its straight-through-processing functionality on a cost-effective, scalable platform fits well with our current expansion of our product offerings and will be an integral part of our drive to grow our business."

Don Marino, CEO of Shadow Financial, said, "We're pleased to welcome Electronic Brokerage Systems, LLC to Shadow's growing client base. Their decision to implement ShadoSuite is consistent with what we're seeing in the market - the move away from expensive outsourced solutions to a flexible on-premise system that provides the benefits of efficient real-time operational controls, the ability to scale or grow with the business and real-time access to their data."

Designed to process business the way business is conducted, ShadoSuite is unlike any other product available in the market today. Handling all combinations of currencies, financial instruments, and transactions types, ShadoSuite receives execution files from client front-end trading systems and reconciles them electronically with external organizations. ShadoSuite also provides on-line tools for staff to correct exceptions identified by the system, ensuring timely and accurate settlement of all securities traded along with correctly accounting for all this activity. As a result, ShadoSuite is the solution of choice for those companies seeking to self-clear, quickly and cost-effectively.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.eudownload the paper nowvisit www.worldpaymentsreport.com

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10103 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8381 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7823 views 0 | 1 tweets | 9 linkedin
PayPal buys Swift Financial to boost working capital bizPayPal buys Swift Financial to boost worki...
7772 views comments | 13 tweets | 7 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7743 views comments | 3 tweets | 7 linkedin